NCUA Corporate Rescue Plan Resources
July 17, 2009 Update: 07/16 NCUA Board Meeting and Summary. Click here for the update.
June 29, 2009 Update: Archive of June 24 Webinar now available. Click here.
June 23, 2009 Update: NCUA Letter 09-CU-14, Corporate Stabilization Fund Implementation.
June 18, 2009 Update: 06/18 NCUA Board Meeting and Summary. Click here for the update.
May 28, 2009 Update: What the Corporate Stabilization Fund will mean for your Credit Union. Click here for the update.
May 21, 2009 Update: Latest update from NCUA on corporate credit unions. Click here for the update.
May 15, 2009 Update: Latest update from NCUA on corporate credit unions. Click here for the update.
April 29, 2009 Update: Action Alert: S. 896 - Deposit Insurance/ Corporate Stabilization Plan. Click here for the update.
April 9, 2009 Update: Communications Resources for use in responding to members and the media about net losses. Click here for the update.
April 6, 2009 Update: Share Insurance Accounting Guidance. Click here for the update.
April 1, 2009 Update (#2): Accounting update from NCUA on the 1% NCUSIF deposit impairment. Click here for the update.
April 1, 2009 Update: NCUA update with Q&A on corporate stabilization/ conservatorships. Click here for the update.
March 26, 2009 Update: NCUA Unveils Share Insurance TV Ad Campaign. Click here for the update.
March 25, 2009 Update: Immediate Action Needed: Contact NCUA immediately regarding the NCUA Premium Costs. Click here for the update.
March 24, 2009 Update: NCUA Conservatorship Communications Resources. Click here for the update.
March 21, 2009 Update: NCUA Places U.S Central and WesCorp in Conservatorship. Click here for the update.
March 20, 2009 Update: Accounting Procedures; Potential Scam. Click here for the update.
March 5, 2009 Update: In our efforts to help keep all of our credit unions up-to-date on the proposed NCUA Corporate Stabilization Program, we wanted to share the following message sent today by CUNA President, Dan Mica. We are working closely with CUNA and will immediately inform you of other developments as they arise. Please click here to read today's update.
February 18, 2009 Update: Today at 11:00 a.m. CST, CUNA held its second national conference call. In case you were not able to tune in live, or would like to take the opportunity to have other staff or board members listen to the call again, an archive recording will be available on CUNA's site by 2:00 p.m. EST (1:00 p.m. CST) on Thursday, February 19, 2009 via this link. Additionally, you may submit questions to CUNA via this email.
February 13, 2009 Update: Thank you for your continued interest in NCUA's "Corporate Stabilization Program." ICUL has learned that CUNA will be holding a no-charge conference call for all affiliated credit unions on Wednesday, February 18, 2009, and thus, has chosen to cancel its webinar that was scheduled for later that same day. We want to be respectful of everyone's very busy schedules, so Illinois credit unions are strongly encouraged to participate in CUNA's call, which will be held at 11:00 CST. It will last for approximately one hour to discuss the latest developments surrounding NCUA's plan and CUNA’s assessment of what lies ahead for the credit union movement. Hosted by CUNA President and CEO Dan Mica, the informational call will feature CUNA experts on a variety of issues related to the NCUA program. Speakers will provide an overview of developments, their assessment of the meaning of each and their estimation of what is ahead, particularly how credit unions themselves can play a role in the process of mitigating costs of the agency’s program on their operations.
Again, we strongly encourage you to participate in this call to stay up to date on this rapidly changing issue. To register for CUNA's call, please go to: http://training.cuna.org/audio/public_T021809/T021809_fct.html.
February 10, 2009 Update: An email notification with details about the February 18, 2009 Webinar have been released and sent to all CU CEOs. To view the invitation and to sign up, please click here.
February 6, 2009 Update: We have been receiving numerous calls the last several days regarding the cost impact the NCUA’s corporate credit union stabilization program will have on our member credit unions. We have been in constant contact with CUNA, as well as the NCUA, to express our concerns and offer suggestions on alternative ways to structure this program in order to minimize its impact on credit unions.
In order to provide credit unions with an update on all the issues involved, as well as offer a forum for discussion, the League is hosting a two-hour conference call on Wednesday, February 18 from 1:30 to 3:30 p.m. We plan to have representatives from the NCUA and CUNA participate in this forum. Registration information will be sent soon.
February 4, 2009 Update: As mentioned in ICUL's January 30, 2009 Regulatory Action Alert, CUNA was scheduled to hold a webinar on February 4, 2009 to address NCUA's corporate rescue plan, the movement's view of its impact on credit unions, and ideas for mitigating the costs on credit unions. Due to the soaring level of interest in this subject (3,000 credit union representatives were estimated to have attended), the webinar turned into an audio conference to allow as many people to participate.
The resulting audio conference, entitled: "NCUA's Corporate Stabilization Program: Challenges & Questions" featured CUNA, NCUA and other credit union experts on regulation, law, accounting and other areas. In case you missed it, or would like to hear it again, this audio conference has been archived and is available at: http://www.cuna.org/initiatives/corp_stabilization/member/audio.html
Other Resources
CUNA has posted two pieces of information to its website that will help credit unions estimate the effects of NCUA's program on their credit union. CUNA also has posted to its website homepage a link to consolidated resources addressing the agency's plan. The link includes information on the NCUA's plan, CUNA's call to action and analysis, related News Now stories, and more. Click here to read the full article: http://www.cuna.org/newsnow/archive/list.php?date=020409#39614
CUNA Resources on NCUA's Plan
http://www.cuna.org/initiatives/ncua_corp_action.html
Credit Union Calculator: Spreadsheet listing all credit unions and reflecting the estimated Costs of the NCUA Plan
http://advice.cuna.org/download/culist0908.xls
Related CUNA News Now articles on this subject
http://www.cuna.org/newsnow/keyword_headlines.php?keyword=42
NCUA's Corporate Stabilization Plan Web Page
http://www.ncua.gov/CorporateStabilizationProgram.html
Thank you for your interest and participation in this issue.