Prudent NCUA regulation of NCUSIF NOL necessary to protect credit unions
Published by: Emily Leite
July 28, 2021 | Regulatory
The League knows how important predictive regulatory oversight is to your credit union’s portfolio and risk management strategies, so we relentlessly advocate for a consistent operating environment to empower all Ohio credit unions to thrive in prosperous times and weather economic downturns. That is why we recently provided comments to the National Credit Union Administration (NCUA) on policies impacting the performance of the National Credit Union Share Insurance Fund (NCUSIF) and Normal Operating Level (NOL) expectations. To best empower the credit union operating environment during good times and bad, the NCUA should avoid statutory changes to NCUSIF performance and revert the NOL to its pre-2017 level of 1.30% now that the corporate credit union resolution is winding down. With no measurable threat to the share insurance fund’s financial soundness and the fleeting nature of the current economic dynamics brought by the COVID-19 pandemic, the League joins CUNA in urging prudent NCUA regulation of the share insurance fund management and performance. We will continue working with the NCUA and Congress to preserve optimal current safety and soundness benchmarks so your credit union can continue focusing on serving its members in the best way possible.
Read the League’s NCUSIF performance and NOL policy comment letter and connect with Chief Advocacy Officer Emily Leite for any questions or concerns regarding share insurance fund changes.
Contact Emily Leite for questions or assistance.