Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
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.


RSS





print
News Now LiveWire
Registration lottery for #CreditUnion #CherryBlossom Ten Mile Run opens Monday, Dec. 1 http://t.co/AGkKPof5Fy. Race is April 12
17 hours ago
The turkey hasn't even been served and #creditunions are already making plans for #GivingTuesday
19 hours ago
.@bankofamerica's $16.65 billion 'toxic mortgage' settlement finalized http://t.co/BIq1QyImXG
20 hours ago
RT @CUNA: #NussleReport: ICYMI: Revised RBC proposal in January w/a 90-day comment period #Fix RBC http://t.co/T4JcvWBDse
22 hours ago
.@TheNCUA release on Nov. prohibition orders out already. Here: http://t.co/YkA1QIYbYa
22 hours ago