Credit unions with share deposits primarily insured by the Dublin, Ohio-based American Share Insurance will not pay a special premium assessment in 2014, according to a Aug. 28 release from the private insurer.
That determination was made Aug. 20 by the ASI board of directors during the group's regular meeting, President/CEO Dennis Adams said.
"After reviewing the company's favorable results to date – and as forecasted for the balance of the year – the board concluded that the SPA collected in 2009 through 2013 would not be necessary in 2014," Adams said in the release. "The company's partial recoveries this year from its $26.4 million in capital assistance afforded Silver State Schools Credit Union, will contribute greatly to the company's bottom line in 2014."
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