Privately Insured CUs Face Another Special Assessment

American Share Insurance announced that privately insured credit unions will be assessed a special assessment of 9 basis points.

American Share Insurance stated that low yields on investments and the continuing funding of loss reserves required the special assessment.

The premium will be assessed of all primary insured member credit unions of record as of September 30.

In the prior three years, privately insured credit unions paid assessments of 15 basis points each year.