NAFCU: NCUA’s TCCUSF closure proposal not in best interest of CUs

first_imgNAFCU reiterated its opposition to the NCUA’s proposed raising of the National Credit Union Share Insurance Fund’s normal operating level and the merging of the stabilization fund into the NCUSIF in its official comment letter sent to the agency Monday.“Although there could conceivably be short-term benefits to merging the Stabilization Fund with the SIF, NAFCU strongly believes such a move at this time would not be in the best interest of credit unions,” wrote NAFCU President and CEO Dan Berger. “Therefore, NAFCU and our members: (1) stand in opposition to NCUA’s proposal to merge the funds at this time; (2) strongly oppose any increase to the NOL; and (3) advocate that the agency is not required to charge a premium in 2017.”The NCUA proposal, issued in July, would raise the NCUSIF’s normal operating level from 1.3 percent to 1.39 percent. The NAFCU Board of Directors along with two member-filled committees – the Regulatory and NCUSIF Committees – unanimously oppose this proposal. continue reading » 18SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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