NCUIFNational Credit Union Insurance Fund
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I would say at the same time that the qualifications to transfer to the NCUIF are fairly strict in statute and regulation, and as a result of that it may be that some of the privately held insured credit unions cannot get into the federal system.
One online financial publisher, the Oregon-based Financial Brand, said a Google search showed 300 different stories about the failure of three corporate credit unions "with many of those reports inaccurately characterizing the conservatorships and NCUIF payback plan as 'bailout.'"
The results from the latest Credit Union Times voting poll showed that credit unions are using a combination of different approaches to deal with the economy and the NCUIF premiums.