NCUA has released its agenda for the agency’s upcoming board meeting. The open portion of the meeting is scheduled for Thursday, Feb. 15, at 10 a.m.
During the meeting, the board will consider the following agenda items:
- Final Rule, Part 741, Share Insurance Fund Equity Distributions;
- Board Briefing, Share Insurance Fund Quarterly Report; and
- 2017 Share Insurance Fund Equity Distribution.
In September, New York Credit Union Association President/CEO William J. Mellin commended the agency for its plans to close the Temporary Corporate Stabilization Fund and distribute funds back to credit unions, explaining:
“It is now time to close the Stabilization Fund and distribute excess equity payments back to credit unions so that the money can be restored to its rightful owners: the more than five million credit union members in New York and 110 million credit union members nationwide.”
The Stabilization Fund was closed Oct. 1.
However, Mellin also expressed concerns with the agency’s plan to raise the Normal Operating Level to 1.39 percent.
The open meeting, which will be streamed live on NCUA’s website, will be followed by a closed meeting. Results from the meeting will be reported in The Point.