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In a Letter to Credit Unions on Wednesday, the NCUA formally notified credit unions of its earlier board action in projecting no assessment range for the Temporary Corporate Credit Union Stabilization Fund but a National Credit Union Share Insurance Fund premium of 3 to 6 basis points of insured shares.

Earlier this month, NCUA staff told the NCUA Board that the share insurance premium for 2017 would cost credit unions from $299.6 million to $599.2 million. NAFCU is urging the agency to only charge a premium if necessary.

Many credit unions would feel a bottom-line impact from the premium charge: NCUA's baseline projections show 110 credit unions would have negative net income after a 3 bps charge; a 6 bps charge would push 219 credit unions into negative net income.

The last premium charge for the share insurance fund was in 2010 and amounted to 12.42 basis points.

By statute, the agency is required to charge a premium if the equity ratio for the National Credit Union Share Insurance Fund falls below 1.2 percent. As of Sept. 30, the ratio stood at 1.27 percent.