It isn’t easy running a credit union – or any financial institution – in these times.
Loan demand remains stagnant. The yields available from short-term investments keep shrinking, and a faltering economy threatens the quality of existing loans.
Now credit union leaders have one more issue to deal with: The federal agency that oversees the deposit-insurance fund for credit unions wants almost $2 billion from the nation’s credit unions by the end of the month.
Two weeks ago, the board of the National Credit Union Administration approved a special assessment based on the amount of each credit union’s insured deposits.