NAFCU is asking the NCUA to explain how natural person credit persons can treat or reverse the impairment of their contributions to the NCUSIF once Congress creates the stabilization fund that the agency is requesting.
NAFCU President Fred Becker wrote the NCUA Board members and executive director that while the agency's communications on accounting issues have been helpful, his group has found that "many credit unions remain uncertain about how to reverse the impairment of the NCUSIF 1 percent deposit upon the implementation of the Stabilization Fund."
He said that some credit unions have questioned whether the impairment can be reversed.
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