Newsroom

NAFCU has updated its Share Insurance Fund (SIF) calculator following the NCUA's release of additional information to answer frequently asked questions and provide accounting details to credit unions on the fund's equity distribution expected in the second quarter.

The NCUA announced earlier this month that it had approved a $160.1 million equity distribution. NAFCU's SIF distribution calculator – which takes into account new details from the NCUA – is available for members to download to allow credit unions to estimate their respective distribution amount.

Based on the NCUA's final SIF audit, the equity ratio on insured shares stands at 1.39 percent – higher than the current normal operating level (NOL) of 1.38 percent. During its December meeting, the NCUA Board approved of decreasing the NCUSIF NOL from 1.39 to 1.38 percent, effective immediately.

NAFCU was the only trade association fighting to keep the NOL at 1.3 percent; the NCUA Board has committed to reviewing the NOL annually.