NCUA: No NCUSIF Premium to be Charged

ALEXANDRIA, Va.—No Share Insurance Fund premium will be needed now to bolster the NCUSIF, the NCUA board stated Thursday, as the equity ratio of the fund stood at 1.23% at the close of the second quarter and is projected to be 1.28% at year-end.

However, two board members shared concerns over the fund’s status.

The 1.28% is eight basis points away from the 1.20% statutory floor for the fund, when a restoration plan would be required.

NCUA reported second quarter financial statistics show the NCUSIF recorded net income of $46.3 million and total income of $60 million. Operating expenses were $51.1 million for the quarter. READ MORE