ALEXANDRIA, Va. -- NCUA said yesterday it expects to pay all federally insured credit unions a dividend on their NCUSIF deposit, for the first time in six years. The dividend is expected to be as much as $150 million, the equivalent of about 2.5% on each credit union's NCUSIF deposit, according to Dennis Winans, the agency's chief financial officer. Payment of the dividend will be allowable because NCUA expects the reserve ratio to exceed 1.3% (dollars reserved per insured share), above which the agency is required to return the excess to credit unions. Lower interest over the last five years on the NCUSIF's $4 billion in Treasury investments have kept the reserves low, preventing NCUA from paying a dividend.
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