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CUNA Releases Updated Share Insurance Calculator

WASHINGTON—CUNA has released an updated version of its share insurance fund distribution calculator tool, designed to help credit unions estimate the amount of their distribution from the $160 million announced by NCUA earlier this month.

This will be the second distribution from NCUA; as CUTOday.info has reported, the agency paid out $735.7 million in 2018 as a result of the closing of the Temporary Corporate Credit Union Stabilization Fund, which officially closed in Fall 2017.

 The tool can be found at cuna.org/ecnomics, under the "Individual Credit Union Data and Statistics" tab, CUNA explained. 

 A financial institution that filed a quarterly Call Report as a federally insured credit union for at least one reporting period in the calendar year 2018 will be eligible for a pro rata distribution. Credit unions using CUNA’s calculator tool can enter their NCUA charter number to get the amount of their estimated equity distribution, the trade association said.

 NCUA estimates the distributions will be paid to eligible credit unions starting in the second quarter of 2019.

See you in Clearwater Beach, FL 10/1-4/2019

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