Learn More about How Program Could Lower 2011 Assessments
ALEXANDRIA, Va. (July 1, 2011) – The National Credit Union Administration (NCUA) will host a free webinar on the recently adopted Voluntary Prepayment of Corporate Stabilization Fund Assessments program July 11 at 2 p.m. EDT. The program has the potential to decrease the currently projected 2011 Stabilization Fund assessment by 6.4 basis points, from 24.9 to 18.5 basis points of March 31 insured shares.
At the May 19 open Board meeting, NCUA made available for public feedback a Voluntary Prepayment of Corporate Stabilization Fund Assessments proposal. The Board adopted a revised version of the plan June 29. The Voluntary Prepayment of Corporate Stabilization Fund Assessments program will permit voluntary prepayments of $500 million in Corporate Stabilization Fund assessments. The plan responds to credit union stakeholder requests to explore a program, similar to a program FDIC adopted in 2009, which would allow prepaid assessments for the Temporary Corporate Credit Union Stabilization Fund.
A resource page about this program is available online here
. NCUA welcomes the credit union industry and all public stakeholders’ participation in the webinar to improve understanding about the Voluntary Prepayment of Corporate Stabilization Fund Assessments program. Credit unions have until July 29 to decide whether to participate in the initiative.
Individuals may register for the webinar at [since this event is in the past, registration is no longer possible]. This webinar will be archived on the NCUA website approximately two weeks after the event for those who cannot participate in the live session.
For technical questions related to accessing or registering for the webinar, or questions about the program, email email@example.com
or call (703) 518-6337.
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of nearly 100
million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.