National Credit Union Share Insurance Fund (NCUSIF)

Our Position

We believe that the National Credit Union Administration (NCUA) should work diligently to maintain an equity ratio above the statutory minimum of 1.20 percent through prudent management of the NCUSIF, not an unnecessary and costly premium charge for credit unions. Even in a challenging economic environment, there exists an adequate window between  a 1.30 percent normal operating level (NOL) and the statutory minimum (1.20 percent) to allow the NCUSIF to operate through business cycles without requiring the NCUA to charge a premium to credit unions, except under severe distress. NAFCU opposes the raised NOL – now set at 1.38 percent – and will continue to urge the NCUA to provide additional refunds to credit unions and return the NOL to its customary level of 1.30 percent as soon as possible.

We want credit unions to get their money back from the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) as soon as possible, but we want you to get all of your money back – not just a portion. When the NCUA released their proposal on the TCCUSF's closure, we were the only trade association that fought to maintain the NOL at 1.30 percent. We will continue to fight for our members on this issue and push for future rebates for credit unions.