Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA site compiles NCUA stabilization program info
WASHINGTON (2/6/09)--The Credit Union National Association (CUNA) has compiled information that may be useful to credit unions regarding the National Credit Union Administration’s (NCUA) Corporate Stabilization Program. A page on the CUNA website provides credit unions with links to the NCUA’s proposed rulemaking for the program, frequently asked questions and additional publications on the matter. CUNA also has provided analyses of the program’s costs on the credit union movement. Credit unions can see how the program will impact the movement as a whole, use a calculation template to see how the costs will affect individual credit unions, or download and examine an Excel file that has the cost estimates for each of the nation's 8,100 insured credit unions. The cost estimates are provided to give credit unions a general feel for the impact of the NCUA's initial plan. The estimate uses September data--the latest CUNA has--so it ignores any growth or changes in financials that occurred, or that will occur subsequently, according to Mike Schenk, CUNA senior economist. “It also assumes the NCUA's initial plan is the one that credit unions will end up with. That is uncertain because NCUA's $3.7 billion guarantee cost was estimated and CUNA, the state leagues, and credit unions are doing everything possible to change the financial equation and make this much more palatable,” Schenk said. The page also includes links to recent News Now stories on the program. News Now will continue to tag stories about the stabilization program with the keyword, “NCUA Corporate Stabilization Program,” which will be placed into an archive accessible to credit unions. For more information and to access the page, use the resource link below.


RSS print
News Now LiveWire
Thanks for following our tweets on the NCUA's #listeningsession.
8 hours ago
RT @IllinoisLeague: Mike Daugherty, CEO, Community Plus FCU: I'd like to you to reconsider your repeated 'No's' #listeningsession #fixRBC h…
10 hours ago
CU says definition of complex CU needs to be reviewed, and not just based on asset size. NCUA: We are looking at that. #listeningsession
10 hours ago
NCUA says lots of resources go 2 examiner training,but there's much turnover.Invites ideas on how to improve exam training.#listeningsession
10 hours ago
CU tells NCUA that more benefit could be gained by better examiner training than imposing this "unnecessary" RBC system at #listeningsession
10 hours ago