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Voluntary Prepayment of Stabilization Fund Assessments

Home > Credit Union Resources and Information > For Credit Unions > Voluntary Prepayment of Stabilization Fund Assessments

Responding to requests and feedback from credit unions, the NCUA Board adopted a plan to permit voluntary prepayments of $500 million in Corporate Stabilization Fund assessments. The approved program, originally briefed to the Board May 19, 2011 has substantial changes. Read the FAQ to review the changes.

Key Dates

Credit unions wishing to participate should download the participation form, and return it to NCUA no later than July 29, 2011.

On Aug. 9, 2011, NCUA will tally the participation level to see if credit unions commit to $500 million and announce the results. If not, the program would not be executed and the regular scheduled assessment would be billed. If credit union commitments exceeded the program amount, all credit unions participating would be debited a prorated amount of their commitment on Aug. 18, 2011 and a reduced assessment would follow.

Program Information

Frequently Asked Questions
Letter to Credit Unions No. 11-CU-08
Program Overview Presentation (PowerPoint)
Program Terms and Conditions
Original Program Outline as briefed
May 19, 2011 (outdated)

Forms and Instructions

Credit Union Participation Agreement and Forms
ACH Form

Webinars

July 11, 2011 Webinar Slides
Review May 26, 2011 Webinar

Comments

At the May 19 open Board meeting, NCUA made available for public feedback a proposed voluntary prepayment of Corporate Stabilization Fund assessments program. NCUA received 184 comments. Overall, comments were generally positive, requested a dollar-for-dollar decrease in assessments, and an increased aggregate minimum from the originally proposed $300 million. Based on these public comments, the Board adopted this revised plan.

List of Comments

Credit unions with further questions about the Voluntary Prepayment of Corporate Stabilization Fund Assessments program may either call (703) 518-6337 or send an e-mail to assessments@ncua.gov.