ALEXANDRIA, Va. – The NCUA Board is expected at next week’s meeting to charge credit unions around $825 million for its fourth annual corporate assessment, bringing the total cost of the corporate credit unions failures to almost $11 billion.

This year’s assessment, projected around 9.5 basis points, would bring to almost $5 billion the credit union regulator has charged credit unions over the past four years to pay for the failure of the corporates. That, combined with $5.6 billion in credit union capital erased after NCUA took over the five corporate failures and $280 million that NCUA transferred from the National CU Share Insurance Fund two years ago to the corporate bailout fund, brings the cost of the corporate resolution to almost $11 billion so far.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.