Newsroom

February 08, 2018

NCUSIF distributions, quarterly report on NCUA Board's agenda

The NCUA Board on Thursday is expected to discuss future equity distributions from the National Credit Union Share Insurance Fund (NCUSIF) as it votes on a final methodology for distributing the refunds to credit unions during its open board meeting.

However, the agency will have to wait until 2017 year-end shares are reported in order to determine exactly how much credit unions will be refunded and the timeline for the distributions.

Thursday's meeting begins at 10 a.m. Eastern. Also on the board's agenda:

  • a quarterly briefing on the share insurance fund; and
  • 2017 share insurance fund equity distribution.

The NCUA Board in September voted to raise the normal operating level (NOL) of the share insurance fund to 1.39 percent and merge the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) with the NCUSIF.

As a result, NCUA anticipates a $600 million to $800 million distribution to credit unions in 2018, with additional distributions possible.

The NCUA has indicated the actual amounts to be distributed will be determined in March, after year-end insured shares are reported. At the end of the second quarter, it plans to issue additional information regarding the amount and accounting for any distribution.