NCUA to Distribute $736m to Insured CUs Posted by Association of Vermont Credit Unions on 2:42 PM

NCUA announced today its intent to distribute $736m in dividends to 5,700 credit unions eligible for the share insurance distribution.  Statements will be mailed this week indicating the amounts to be received. An institution that filed a quarterly Call Report as a federally insured credit union for at least one reporting period in calendar year 2017 will be eligible for a pro rata distribution.

This is the largest share insurance distribution in the agency’s history. It was approved at the NCUA Board's February 2018 meeting, and comes about as result of the Board closing the Temporary Corporate Credit Union Stabilization Fund and transfering the Stabilization Fund’s assets and obligations to the National Credit Union Share Insurance Fund, as required by law.

More information on the Share Insurance distribution, including the method the NCUA used to determine each institution’s share and how a credit union should account for it, can be found online.