The National Credit Union Administration on Thursday approved the distribution of of $736 million to eligible, federally insured credit unions in the third quarter of 2018, funds that are available because of the NCUA’s decision in October to close the Temporary Corporate Credit Union Stabilization Fund.
The National Credit Union Association closed the Temporary Corporate Credit Union Stabilization Fund on Oct. 1, meaning the NCUA could distribute between $600 million to $800 million to federally insured credit unions in 2018, barring no significant changes in the economy.
Two major credit union advocacy groups are in disagreement over the National Credit Union Association’s proposed plan to close the Temporary Corporate Credit Union Stabilization Fund sometime this year.
