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NCUA to look at insurance fund operating level
ALEXANDRIA, Va. (12/10/07)—The National Credit Union Administration (NCUA) has scheduled action on the 2008 normal operating level of the National CU Share Insurance Fund (NCUSIF) at its open board meeting Thursday. In July the agency reviewed the mid-year NCUSIF projections, which showed an estimated 2007 net income of $207 million, an increase of more than $25 million from the previous year. Data showed the fund's equity ratio dropped to 1.27% in June, after remaining at 1.31% for the first quarter and 1.32% for April and May. The agency projected two more months at 1.27% before that ratio would return to 1.31% and better during the September though December period of this year. At that level, the NCUSIF would pay a 2007 dividend. Also on the Dec. 13 open board meeting agenda are the NCUSIF’s investment policy and the NCUA’s five-year strategic plan.
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