ALEXANDRIA, Va. — Credit unions will likely have to pay a premium of 0.15% of insured shares this year to pay for the NCUA's rescue of WesCorp and U.S. Central. Some large credit unions could cause additional strains on the NCUSIF later this year.
That's the estimate of the costs presented to the board at today's meeting, though the final premium amount will be voted on at the board's September meeting.
Credit unions will have seven years to repay the $5.9 billion cost of NCUA's efforts to rescue the corporates.
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