Board Action Bulletin

The NCUA Board unanimously approved the following actions:

• Guarantee uninsured shares at all corporate credit unions through February 2009, and establish a voluntary guarantee program for uninsured shares of all corporate credit union through December 31, 2010;
• Issue a $1 billion capital note to U.S. Central Corporate Federal Credit Union (U.S. Central);
• Issue an Advance Notice of Public Rulemaking (ANPR) on restructuring the corporate credit union system; and
• Declare a premium assessment to restore the National Credit Union Share Insurance Fund (NCUSIF) equity ratio to 1.30 percent, which will be collected in 2009