Corporate Credit Union Issues

Impact

In 2010, in response to the financial crisis, NCUA revised the corporate credit union regulation to “establish a regulatory framework that provides a foundation for a healthy corporate system.” The 2010 rule curtailed several of the practices that led to corporate failures.

In the aftermath of the 2008 financial crisis, NCUA overhauled the corporate credit union regulatory framework to stabilize and rehabilitate the credit union system. Among the changes imposed were prompt corrective action (PCA) requirements, limits on investments and credit risks, and asset and liability management controls. The regulations also addressed corporate recapitalization and disposition of legacy assets.

Where We Stand
  • Following closure of the Corporate Stabilization Fund, credit unions participating in the Share Insurance Fund in 2017 received a dividend distribution in Q3 2018.
  • CUNA continues to advocate for a return to the SIF normal operating level of 1.3

 

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