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 wrote in support of legislation Monday that is a step forward in addressing the threat of litigation under the Americans With Disabilities Act, urging legislators to consider how credit unions are being impacted by frivolous litigation.
After weeks of hurricanes, and now wildfires, it’s more important than ever for credit unions to be prepared for disasters. Federally insured credit unions are required to have disaster recovery and business resumption plans.