View source for NCUA Corporate Stabilization Program

The '''NCUA Corporate Stabilization Program''' was created on January 28, 2009,<ref>[http://www.ncua.gov/News/Press/NW20090128.pdf NCUA Press Release], January 28, 2009</ref> in response to investment losses incurred at [[U.S. Central Credit Union]].<ref>CU Times article [http://www.cutimes.com/News/2009/2/Pages/US-Central-Earns-an-F-From-Fitch.aspx U.S. Central Earns an F from Fitch]</ref> U.S. Central was a third-level [[corporate credit union]] that provided services to other corporate credit unions, which in turn served public-facing credit unions.

The [[National Credit Union Administration]] (NCUA) is an autonomous agency of the United States federal government, and is responsible for regulating and insuring all federally insured credit unions in the [[United States]].

The NCUA's plan calls for all federally insured natural-person [[credit union]]s in the U.S. to pay an increased insurance premium to the [[National Credit Union Share Insurance Fund]] (NCUSIF) in 2009 to make up for the investment losses at U.S. Central, to which the NCUSIF has written a $1 billion capital note.<ref>Boston Globe [http://www.boston.com/business/articles/2009/02/13/paying_a_giants_price/?p1=Well_MostPop_Emailed6 Paying a Giant's Price], February 13, 2009</ref> However, NCUA has provided no assurances that the capital losses of the corporate credit unions to be covered through the planned assessment in 2009 will be adequate to cover eventual bad debt losses.

==See also==
*[[National Credit Union Administration]]
*[[Federal Deposit Insurance Corporation]]
*[[Credit union]]
*[[Credit Union National Association]]
*[[Central liquidity facility]]
*[[Troubled Assets Relief Program]]

== References ==
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==External links==
* Wall Street Journal [https://www.wsj.com/articles/SB123318420520726249 U.S. moves to bail out credit unions]
* Washington Post [https://www.washingtonpost.com/wp-dyn/content/article/2009/01/28/AR2009012803242.html U.S. Aid goes to credit unions]

[[Category:Credit unions of the United States]]
[[Category:Bank regulation in the United States]]
[[Category:Independent agencies of the United States government]]
[[Category:Great Recession in the United States]]
[[Category:2009 establishments in the United States]]


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