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In December's Letter to Credit Unions 14-CU-09, NCUA Board Chairman Debbie Matz notes that in 2015 the agency projects no Temporary Corporate Credit Union Stabilization Fund assessment and expects any share insurance premium will be in the range of 0 to 5 basis points.

The letter states that the net projected remaining assessments for the corporate resolution program will total between negative $2.2 billion and negative $0.2 billion. Matz says the double negative is a positive for credit unions as the stabilization fund is projected to conclude with a surplus when it expires in 2021.

The share insurance fund remained at the 1.3 percent normal operating level as of Sept. 30, the letter states. After Dec. 31, any equity in excess of the 1.3 percent will be transferred to the stabilization fund, as required by law.

Matz notes the 2015 assessment projections are unchanged from 2014. She added that NCUA has secured more than $1.75 billion in legal recoveries against Wall Street firms that sold faulty securities to the five failed corporate credit unions.

NAFCU continues to encourage NCUA's efforts to pursue all remedies available in mitigating the cost to credit unions of corporate stabilization. NAFCU also continues to the press the agency to exercise greater transparency in its management of the NCUSIF.

During November's NCUA open meeting, the board approved a 0.9 percent decrease in natural person federal credit union operating rates. Total federal credit union operating fees are projected to be $78.69 million and will be due April 15.