NCUA Proposes Plan for Voluntary Prepayment of Stabilization Fund Assessments (Misc News: May 25, 2011)
The NCUA announced a proposed plan whereby federally insured credit unions could voluntarily prepay some of the assessments they owe to the Temporary Corporate Credit Union Stabilization Fund at its May 19 board meeting.
The proposal is intended to lessen the impact of the Stabilization Fund assessments on credit unions. Each credit union is urged to become familiar with the proposal, assess the usefulness of the program to the credit union and the credit union system, and provide comments to NCUA. The agency is seeking comments through June 20 on the proposal.
CUNA has prepared a document providing background information and set of questions and answers intended to further credit unions’ understanding of NCUA’s proposal. This information is also provided to assist credit unions as they review the details of the program and consider whether or not to participate in it. The document can be found here.
In addition, NCUA is offering a webinar May 26 at 4 p.m. to review the proposal. Click here for information from the NCUA about the program and their webinar, including how to register.
NCUA will archive this webinar on their website approximately two weeks after the event for those who cannot attend live.
The MCUL will send a Comment Call on this topic shortly.