Newsroom

September 27, 2017

NCUA Board to decide on TCCUSF merger, NOL increase today

NAFCU staff will be on hand at today's NCUA Board meeting, during which the board is expected to decide on its proposal to close the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) and increase the normal operating level (NOL) of the share insurance fund – which NAFCU opposes.

NAFCU has consistently called for a full refund for credit unions for monies they paid for corporate assessments.

The NCUA's current plan would close the TCCUSF, merge the fund's assets and liabilities into the National Credit Union Share Insurance Fund (NCUSIF) and increase the NCUSIF's NOL from 1.3 percent to 1.39 percent – the highest level in the fund's history.

The meeting, which is available via live stream on the NCUA's website, begins at 10 a.m. Eastern. NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt, along with other NAFCU staff, will be in attendance.

In addition to the NOL increase and fund merger, the NCUA today will also review a TCCUSF quarterly report, its 2018-2022 Strategic Plan and a proposed rule on the accuracy of advertising and notice of insured status.