NCUA has released the agenda for the agency’s upcoming board meeting. During the meeting, which is scheduled for Thursday, Sept. 28, the board is expected to consider closing the Corporate Stabilization Fund and raising the normal operating level.
As previously reported in The Point, New York Credit Union Association President/CEO William J. Mellin commended the agency’s plans to fold the Corporate Stabilization Fund into the Share Insurance Fund. However, Mellin expressed concerns with certain aspects of the agency’s approach. In particular, Mellin was concerned with the lack of transparency surrounding the agency’s proposed plan to raise the normal operating level from 1.3 percent to 1.39 percent.
Other items on the agenda include a quarterly report on the Corporate Stabilization Fund, a proposed rule on the accuracy of advertising and notice of insured status, and a review of the agency’s 2018-2022 strategic plan.
The open meeting will begin at 10 a.m. The meeting will be streamed live on NCUA’s website, and results will be reported on in The Point.