Temporary Corporate Credit Union Stabilization Fund (TCCUSF)
We want credit unions to get their money back from the TCCUSF as soon as possible, but we want you to get all of your money back – not just a portion. When NCUA released their proposal on the TCCUSF's closure, we were the only trade association that fought to maintain the Normal Operating Levels (NOL) at 1.3 percent. We will continue to fight for our members on this issue and push for future rebates for credit unions.
How This Impacts You
Now that the TCCUSF is closed, we know that our credit union members are concerned that raising the NCUSIF's NOL from 1.3 percent to 1.39 percent has set a dangerous precedent. The NCUA anticipates a $600 million to $800 million distribution to credit unions in 2018 with additional distributions possible. This would amount to credit unions being refunded only about 15 percent of their original assessments made to the TCCUSF. Not only is this be the highest NOL in the fund's history, it could result in excess money being retained by the agency that credit unions could use to better serve their members.
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