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NCUA extends corporate share coverage through Sept. 2012
ALEXANDRIA, Va. (6/3/10)--The National Credit Union Administration (NCUA) on Wednesday announced that it has extended the expiration date of its Temporary Corporate Credit Union Share Guarantee Program (TCCUSGP) to Sept. 30, 2012. The TCCUSGP, which was scheduled to expire on June 30, 2012, backs up the National Credit Union Share Insurance Fund's (NCUSIF) coverage of all shares, excluding paid-in-capital and membership capital accounts, at corporate credit unions. The NCUA in March had extended the program until June 30, 2012. The program became effective for Central Corporate CU, Corporate America CU, Kansas Corporate CU, Kentucky Corporate FCU, Southeast Corporate FCU, and VACORP FCU on May 29, 2009. Existing deposits will continue to be covered, as will new investments with maturities of two years or less in participating corporate credit unions that are made before Sept. 30, 2010.
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