NCUA board decreases normal operating level
Credit union trade groups applaud the decision, while some are pushing for a bigger reduction.
The NCUA board Thursday approved decreasing the agency’s Normal Operating Level from 1.39% to 1.38%–far less than credit union trade groups have been pushing for during the past year.
Board Chairman J. Mark McWatters said that the agency made a commitment to reviewing the Normal Operating Level on an annual basis.
Credit union trade group officials said they were pleased with the decrease, even though the level remains higher than the 1.3% they had been pushing for this year.
“This decrease is a positive development and we thank the NCUA for taking this step,” said NAFCU Chief Economist and Vice President of Research Curt Long. “We will continue to press the NCUA to reduce the NOL for further distributions.”
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