Removing Barriers Blog

TCCUSF Closure On the Agenda for September NCUA Board Meeting
Posted September 21, 2017 by CUNA Advocacy

The NCUA released the agenda for the public Board meeting to be held on September 28.  The NCUA board will discuss closing the Temporary Corporate Credit Union Stabilization Fund at the meeting.  CUNA strongly supports closure of the fund and for NCUA to begin issuing refunds starting in 2018, the only national trade association for credit unions to hold that position.  

CUNA fully supports NCUA’s proposed plan, issued in July, to close the TCCUSF, merge its assets into the share insurance fund and repay credit unions a portions of stabilization fund premiums in 2018.  CUNA does have concerns with provisions that authorize NCUA’s to raise the normal operating level (NOL) to 1.39%, and addressed them in its comment letter filed with the agency last month.  

Other items on the Agenda are:

  1. Corporate Stabilization Fund Quarterly Report.
  2. Proposed Rule, Part 740, Accuracy of Advertising and Notice of Insured Status.
  3. NCUA’s 2018 – 2022 Strategic Plan.