NCUA Board to decide on TCCUSF merger, NOL increase today
NAFCU staff will be on hand at today’s NCUA Board meeting, during which the board is expected to decide on its proposal to close the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) and increase the normal operating level (NOL) of the share insurance fund – which NAFCU opposes.
NAFCU has consistently called for a full refund for credit unions for monies they paid for corporate assessments.
The NCUA’s current plan would close the TCCUSF, merge the fund’s assets and liabilities into the National Credit Union Share Insurance Fund (NCUSIF) and increase the NCUSIF’s NOL from 1.3 percent to 1.39 percent – the highest level in the fund’s history.
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