The Check's In The Mail: NCUSIF Equity Disbursements Posted by Association of Vermont Credit Unions on 3:09 PM

Over 5,700 NCUSIF-insured credit unions should start seeing share insurance fund distributions this week.  CUNA supported a transparent and equitable method for repaying credit unions and pushed for a temporary increase of four basis points in the fund's normal operating level while the share insurance fund holds corporate legacy assets. CUNA also insists the increase adopted by NCUA be temporary and phased down to 1.3% by 2021, as the relative exposure of the legacy assets diminishes.

CUNA advocated for equity disbursements this year and submitted a comment letter to NCUA providing suggestions on how the agency should amend its share insurance rule to provide for equity distributions.

 "We commend the NCUA Board for making the decision to start issuing refunds and see this as a victory for credit unions," said CUNA President/CEO Jim Nussle. "CUNA was the only national trade association advocating for refunds to begin in 2018, and more than 90% of credit unions who commented on NCUA’s proposal supported our position. Credit unions look forward to getting their money back and putting it to work for their members."