The clear case for ending corporate credit union stabilization fund assessments is one of many topics touched on in CUNA's latest Inside Exchange video.
The overall status of the corporate stabilization fund, liquidity, and the outlook for assessments are discussed by CUNA Executive Vice President of Communications Paul Gentile and CUNA Chief Economist Bill Hampel.
The National Credit Union Administration (NCUA), at its July open board meeting, declared a corporate credit union stabilization assessment of eight basis points of credit unions' insured shares as of June 30. That payment is due Oct. 16.
CUNA has noted that with the improvement of the performance of NCUA's legacy assets, stabilization fund assessments should no longer be necessary after the 2013 payment. The range for any additional assessment for 2014, if any, will be set by the NCUA board in November.
The weekly online video series is designed to give credit unions insight into the latest developments in legislation, regulation, and politics related to credit unions issues and goals.
CUNA’s compliance staff was recently asked about a garnishment order for a member’s that receives federal benefits. The credit union determined the member did not have enough and the member asked the order be paid in full using those funds.
Credit unions interested in participating in CUNA’s updated regulatory burden have until Thursday to register for an introductory webinar. The study will bring CUNA, leagues and credit unions updated data to bring to policymakers.