ALEXANDRIA, Va. – NCUA said this afternoon it mailed out invoices to all federally insured credit unions for their share of this year’s $2 billion payment for the corporate credit union resolution.
This year’s payment, amounting to 25 basis points of insured shares, must be paid by Sept. 27, either electronically or by check. For those credit unions signed up for electronic payment via Pay.Gov the payment will be automatically collected on Sept. 27. All checks must be sent to NCUA Payment Processing PO Box 979069, St. Louis, Mo.
This year’s $2 billion payment is the third annual assessment, but biggest so far, by NCUA to pay for the corporate program, with credit unions having paid a total of $1.3 billion the last two years.
The invoices being sent to credit unions will also include the normal semi-annual adjustment for the 1% National CU Share Insurance Fund deposit.
