NCUA Pop Quiz: Letter to the Editor

The second sentence of Heather Anderson’s column in the April 15 issue of Credit Union Times (“Oh, the Irony: The NCUA, NCUSIF & Alabama One”) should be enough to frighten every credit union leader into submitting a comment letter on the proposed risk-based rule – before the April 27 deadline. You mention NCUA’s intent to push for an expanded NCUSIF … with a risk-based premium structure. One more sign that the agency is out of touch.

A quick read of NCUA’s 2014 audit of the share insurance fund should convince anyone who hasn’t submitted a comment letter on round two of the proposed risk-based capital rule to do so … now!  RBC II assumes that the Agency is capable of managing uncertainties, identifying risk and recording potential deficits. But a review of the NCUSIF audit should give pause about that assumption.