The Normal Operating Level of the Share Insurance Fund, set by the National Credit Union Administration before the pandemic, is 1.38%. The ratio currently sits at 1.26% and at 1.20% the NCUA will be required to develop a restoration plan that will involve additional premiums on credit unions. The Credit Union National Administration, the National Association of Federally-Insured Credit Unions and the National Association of State Credit Union Supervisors all oppose a premium now, arguing that the ratio is higher because of economic stimulus payments to members and that charging credit unions additional premiums during an economic downturn is not a good plan.
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