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TCCUSF payments due today
ALEXANDRIA, Va. (9/27/11)--Payments for 2011 Temporary Corporate Credit Union Stabilization Fund (TCCUSF) assessments are due today. Semi-annual National Credit Union Share Insurance Fund (NCUSIF) 1% capitalization deposit adjustments must also be made by the end of today. The National Credit Union Administration (NCUA) last month assessed a 25 basis point (bp) TCCUSF premium for 2011. The premium, which is expected to bring in $1.96 billion in funds to help cover the costs of corporate credit union stabilization, should be expensed by credit unions in September. Credit unions should report the full expense on their Sept. 30 call reports, the NCUA said. The agency has said electronic payments will be automatically collected today. Payments may also be made via pay.gov, the electronic payment portal. The NCUA earlier this year said there is "no anticipated need" for an NCUSIF premium to be charged in 2011, and an NCUSIF premium "will not be necessary in 2012" if the number of credit union failures maintains its current pace. NCUA Chairman Debbie Matz during last week's open board meeting requested that her staff provide the board with their "best possible estimate" of the year-end ratio of the NCUSIF at the upcoming November board meeting.


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