NCUSIF premium calculator available

Oct. 1, 2009 – Credit unions can start figuring their 2009 share insurance fund premium assessments using an online calculator NAFCU has posted in the Economic Trends/Analysis section of its Web site.

Last week, the NCUA Board approved a share insurance premium assessment amounting to about $727.5 million, due in November, to maintain the fund at its normal operating level of 1.3 percent. The agency board also approved a $337.8 million assessment to begin repaying Treasury for funds borrowed by the Temporary Corporate Credit Union Stabilization Fund.

NCUA said there could be more premiums ahead, and agency Chairman Debbie Matz directed staff to provide some indication of added 2010 costs during the October board meeting. NAFCU President Fred Becker welcomed the move, noting in a letter sent Wednesday that it will increase transparency and help credit unions anticipate costs in the coming year.

To get to the 2009 premium assessment calculator, follow the link below.