ALEXANDRIA, Va. – NCUA on Thursday said it has extended the expiration date of NCUA’s Temporary Corporate CU Share Guarantee Program, the emergency guarantee of all corporate deposits, from March 31, 2012, to June 30, 2012.
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With this extension, new investments with maturities of two years or less in participating corporate credit unions made before June 30, 2010, will be fully covered by the guarantee program. This is in addition to the existing deposits already covered.
The deposit guarantee, along with the guarantee of short-term debt and $10 billion assistance for U.S. Central FCU and WesCorp FCU, are among the several programs launched by NCUA as part of the corporate bailout.
