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News Now

Washington
CUNA confirms NCUSIF saying premium only around 0.15
WASHINGTON (8/31/2009)--CUNA has confirmed with NCUA that it is still saying credit unions will only be charged a premium of about .15 percent this fall. CUNA made the confirmation after other incorrect reports began circulating on the Internet today (Friday) that an extra NCUSIF premium or special assessment is under consideration by the agency. In June, NCUA indicated that federally insured credit unions should expect a premium assessment of around .15 percent (or higher, depending on NCUSIF costs) that would likely be approved by the NCUA Board in September. The agency is planning no separate insurance assessment in addition to the one it has already indicated credit unions will be charged. "In light of this, our reading of the situation is that credit unions can still expect just the roughly 15 basis point premium to be levied by NCUA next month," said CUNA Chief Economist Bill Hampel. CUNA continues to monitor the situation and will keep credit unions updated on all agency actions involving the NCUSIF.


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