Washington and Industry Briefs 
The NCUA later this year will distribute roughly $736 million to credit unions as a result of its closure of the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) and that fund’s merger with the National Credit Union Share Insurance Fund (NCUSIF). While this is a sizable amount, it is only a small portion of what is rightfully owed to the industry—24 percent to be exact.
As part of its merger proposal, the NCUA also made clear its intention to raise the normal operating level (NOL) of the NCUSIF from 1.3 percent to 1.39 percent. This increase resulted in the agency retaining a significant amount of available money in the NCUSIF— $2.3 billion.
From the May-June 2018 issue of The NAFCU Journal magazine.