How much will CFE have to pay? How is CFE’s special assessment calculated?
All federally-insured credit unions will share this stabilization cost proportionately through a partial write-off of NCUSIF deposits and an assessment of additional premiums to refund the insurance plan. As a result, CFE recorded a charge of approximately $8.6 million in its financial statements for the year ending December 31, 2008 resulting in a loss of $6.1 million for the year. Had it not been for the NCUA stabilization assessment, CFE would have posted a profit of $2.4 million for 2008.
Related Questions
- What services are received for the assessment and why is there a special assessment when residents already pay property taxes? What are property taxes paying for?
- Why do businesses located in a Business Improvement District (BID) have to pay a special assessment?
- How much will CFE have to pay? How is CFE’s special assessment calculated?
