The National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement after the NCUA Board approved of decreasing the National Credit Union Share Insurance Fund's (NCUSIF) normal operating level (NOL) from 1.39 to 1.38 percent effective immediately. NAFCU continues to fight for a lowering of the NOL back to 1.3 percent so credit unions can realize the fullest distribution possible.
"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."