Metsger: NCUSIF distributions slated end of July/early August
NCUA Board Member Rick Metsger told attendees of NAFCU’s Defense Credit Union Summit yesterday that the National Credit Union Share Insurance Fund (NCUSIF) dividend payments can be expected “sooner rather than later,” with a timeline set for the end of July through the beginning of August. He added that notices will go out to those credit unions receiving a distribution within the next couple of weeks.
The Defense Credit Union Summit occurred jointly with NAFCU’s Annual Conference and Solutions Expo in Seattle; the conference runs through Friday.
Metsger also discussed the agency’s efforts to reform member business lending (MBL) and field of membership (FOM) regulations, risk-based capital (RBC) reforms and small-dollar lending changes.
Regarding risk-based capital reforms – strongly supported by NAFCU and currently underway on Capitol Hill – Metsger said changes to the rule likely wouldn’t happen while he’s on the board. (President Donald Trump on Monday nominated Rodney Hood to the NCUA Board to fill Metsger’s current seat.) Metsger noted that there are some legal aspects to the rule – set to go into effect Jan. 1, 2019 – that NCUA Board Chairman J. Mark McWatters has some concerns about but that a rule on RBC will not go away. “I think you’ll see new action on this of some kind,” Metsger said, while noting that this kind of rule is needed.
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