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News Now

Washington
Stabilization Fund fee expected to be on August NCUA agenda
ALEXANDRIA. Va. (7/7/11)—As mentioned in the July 5 issue of News Now, the National Credit Union Administration (NCUA) announced last week it is setting aside its longstanding practice of omitting an August meeting from its monthly open board meeting schedule and will hold a special meeting on Aug. 29. The agency board members are expected to discuss the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) assessment that will be applied to credit unions for the year. The meeting is scheduled for 1 p.m. (ET). The TCCUSF, established in 2009, covers corporate stabilization-related expenses. In 2010, telling credit unions that the agency is "very mindful of the effect" that assessments have on their balance sheets, the NCUA separated the assessment related to National Credit Union Share Insurance Fund costs associated with problem natural person credit unions and those associated with NCUA's Corporate Stabilization Fund. The action was intended to improve the transparency of NCUA's assessment process and to improve the accuracy of credit unions' budget estimates.


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