The MCUL has compiled resources below related to NCUA's announcement of their “Corporate Stabilization Program.” This page will be updated daily as further information becomes available.
Accounting and Regulatory Guidelines:
Information from NCUA, MCUL and CUNA including assessment calculators and bulletins
Talking Points/Communications:
Information from NCUA, MCUL, CUNA and Cencorp including talking points, sample newsletter articles and an MCUL video for credit union board members and staff
As background, credit unions throughout the country own the 26 Corporate credit unions. US Central is owned by 26 Corporate credit unions, including CenCorp. The $1.2 billion in additional investment losses at US Central (unaudited) and the $1.0 billion capital infusion from the NCUSIF announced yesterday will directly impact US Central's capital. Prior to these announcements, US Central's capital consisted of the following (in billions):
- Retained Earnings: $0.70
- Paid-in-Capital from Corporates: 0.75
- Member Capital Shares from Corporates: 1.23
- Total Capital: $2.68
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Regulatory Affairs
