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Nov. 25, 2013 – NCUA announced on Friday that the upper end of the net remaining assessments associated with the Temporary Corporate Credit Union Stabilization Fund declined by $2.3 billion between December of 2012 and July of 2013, leaving the estimate for remaining future assessments at no higher than $1.6 billion.

"A great deal of disciplined work and careful planning has kept the Corporate Resolution on-track, and the new estimates are very good news," said NCUA Board Chairman Debbie Matz. "Our continued recoveries from Wall Street firms responsible for the corporate crisis, now totaling more than $1.75 billion, an improving economy and NCUA's continuing efforts to effectively manage losses are helping reduce future credit union assessments."

NAFCU President and CEO Dan Berger urged the board to end corporate stabilization assessments in light of the fund's improved state and the $1.417 billion settlement from JPMorgan Chase. "Given this recovery, NAFCU urges NCUA to cease the stabilization assessments in the future," Berger said.

Since the TCCUSF was established, credit unions have paid roughly $4.8 billion in assessments. NCUA attributed the decline in remaining assessments to a combination of the $1.6 billion decrease in expected costs and the $700 million collected in assessments in October. In part due to the JPMorgan Chase settlement, the NCUA Board announced at its meeting that the agency does not expect a Stabilization Fund assessment for 2014. According to the NCUA, although the Stabilization Fund will expire in 2021, assessments may end sooner.