Credit unions should be allowed to prepay their assessments and the NCUA should consider borrowing additional money from the Treasury, NAFCU President/CEO Fred Becker suggested in a letter sent to NCUA Chairman Debbie Matz today.
Becker wrote that his association is making those suggestions because of what he called the "affordability factor" given the financial challenges facing many credit unions.
He wrote that allowing credit unions to prepay their assessments would allow them to avoid "the negative accounting treatment that would otherwise result." The FDIC adopted the practice of prepayment for banks in November 2009.
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