Tuesday, December 29, 2009

Special Premium Assessment for Privately Insured Credit Unions

Both Credit Union Times and Credit Union Journal are reporting that American Share Insurance (ASI) will levy a 15 basis point special premium assessment on privately insured credit unions.

Credit Union Journal reported that ASI said: “The premium is deemed necessary as a result of losses developing, or incurred, in a small number of primary insured member credit unions.”

The special assessment was necessary to restore the ASI guarantee fund’s equity ratio to above its minimum level of 1.30 percent.
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