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The NCUA today is hosting a free webinar on the board's proposal to close the Temporary Corporate Credit Union Stabilization Fund. The webinar, slated to begin at 2 p.m. Eastern, will be led by top agency officials.

NAFCU will monitor today's webinar.

The webinar features NCUA Director of Examination and Insurance Larry Fazio and Chief Financial Officer Rendell Jones with a discussion of the agency's proposal to close the TCCUSF and provide credit unions with a potential distribution in 2018. They also will take questions about the proposed plan.

The NCUA issued this proposal during its July open board meeting. The proposal is to merge the TCCUSF into the National Credit Union Share Insurance Fund and raise the NCUSIF normal operating level from 1.3 percent to 1.39 percent. NCUA says this will offset the increased risk of the stabilization fund's liabilities. NAFCU has stated that it strongly urges the agency to avoid such a dramatic increase of the normal operating level and to rebate credit union monies as soon as possible. The merger of the two funds will raise the NCUSIF's equity ratio; the excess above the 1.39 percent target would be distributed to insured credit unions.

On Tuesday, NAFCU's Regulatory and Share Insurance Fund Committees held a joint meeting to discuss this proposal. NAFCU is encouraging credit unions to write comment letters to the agency on its proposal to close the Stabilization Fund. The association last week unveiled resources to help members navigate the issues raised in its proposals and in formulating their own comments to the agency. Those resources include the association's Regulatory Alert, a comment letter template with talking points and an economic analysis and forecast predicting how the proposal may affect NCUSIF dividends to insured credit unions.

Comments on this proposal are due to the NCUA by Sept. 5; NAFCU is also seeking members' input to the association's official comment letter by Aug. 22.