NAFCU committee urges NCUA Board against NCUSIF premium

The NAFCU Share Insurance, Liquidity and Development Fund Oversight Committee, made up of association member representatives, on Monday urged the NCUA Board to explore options that would negate the need for a share insurance premium to be charged in 2017.

Last month, the NCUA Board projected no assessment range for the Temporary Corporate Credit Union Stabilization Fund but estimated a potential National Credit Union Share Insurance Fund premium of 3 to 6 basis points of insured shares.

“NAFCU is hopeful that a premium will not be necessary in 2017, and encourages the agency to continue to publically explore all available avenues to negate the need for a premium,” the NAFCU committee wrote in a letter Monday to NCUA Board Chairman Rick Metsger and Board Member J. Mark McWatters. “If NCUA does ultimately decide to move forward with a premium charge, NAFCU urges the agency to release additional information and advance guidance to provide our members with clarity for planning purposes.”

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