The NCUA board will consider closing its Corporate Stabilization Fund and establishing a new Normal Operating Level at its Sept. 28 meeting.
The two related issues have generated controversy in the credit union community.
The board solicited comments on a plan to close the stabilization fund and merging it into the Share Insurance Fund. The merger could result in an initial Share Insurance Fund distribution to federally insured credit unions of between $600 and $800 million. The stabilization fund had been scheduled to close in 2021.
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The board also solicited comment on increasing the normal operating level of the Share Insurance Fund from 1.30% to 1.39%.
Rep. Sean Duffy (R-Wis.) a member of the House Financial Services Committee, had asked the board to delay those two decisions.
Credit union trade groups have split on closing the stabilization fund. CUNA has endorsed the proposal, while NAFCU has said that additional research is needed before the merger takes place.
Also at next week's meeting, the board will discuss the agency's 2018-2022 Strategic Plan and receive the quarterly stabilization fund report.
The board also will discuss a proposed rule governing the accuracy of advertising and notice of insured status.
The board will meet in closed session on Sep. 27 to consider two supervisory actions.
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