Credit unions likely will have to pay an additional charge of about $1 billion this fall to fortify their version of the deposit insurance fund, the National Credit Union Administration announced.
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To bolster the National Credit Union Share Insurance Fund, the deposit premium to be levied on credit unions will be an estimated 15 basis points, or 0.15% of assets, the NCUA said. The premium is expected to be voted on at the NCUA board's September meeting.
The premium is separate from a $1 billion payment credit unions will make this year as a result of two corporate credit union failures.
