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ExpectMore.govExpectMore.gov home pageEXPECT FEDERAL PROGRAMS TO PERFORM WELL, AND BETTER EVERY YEAR.
 
Program Assessment

Program

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Share Insurance Fund

The National Credit Union Share Insurance Fund provides insurance for deposits held at all federally-insured credit unions across the country. The program is administered by the National Credit Union Administration (NCUA), the federal regulator of the credit union industry.

Rating

What This Rating Means

PERFORMING
Moderately Effective

In general, a program rated Moderately Effective has set ambitious goals and is well-managed. Moderately Effective programs likely need to improve their efficiency or address other problems in the programs' design or management in order to achieve better results.
  • Numerous independent evaluations of the National Credit Union Share Insurance Fund (NCUSIF) have shown that over the past few years the fund has remained in good financial condition and helped to maintain stability and liquidity within the credit union system.
  • Despite this record of past performance, there remain a few areas where the design & operation of the fund could be improved, including introducing a risk-based capital mechanism to help "price" insurance coverage and developing a formal policy on the fund's proper equity ratio and methodology for charging premiums.
  • The NCUA has taken several steps to improve the operation and robustness of the fund. It is adopting a new methodology for estimating potential losses to the fund from credit union failures, as well as implementing several new performance measures to help track the outcomes of the program.

Improvement Plan

About Improvement Plans

We are taking the following actions to improve the performance of the program:

  • Implementing a new performance measure in its annual performance budget to track the speed with which the NCUSIF refunds insured deposits after the failure of an institution.
  • Implementing a new performance measure in its annual performance budget to track the effectiveness of the fund's receivership function.
  • Support revisions to the Federal Credit Union Act to allow NCUA to introduce risk-based "deductibles" for deposit insurance by adjusting the capital a credit union must hold based on its risk profile.

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