NCUA announced today that it will not move forward with its Voluntary Prepayment of Corporate Stabilization Fund Assessment program.
The agency stated that it needed to receive pledges of $500 million, if it was going to move forward with the program. However, NCUA reported that it received pledges of $369.9 million from 799 credit unions.
On June 29, NCUA raised the minimum pledge threshold from $300 million to $500 million for the program to be implemented.
Read the press release.
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