The NCUA declared “a premium assessment to restore the National Credit Union Share Insurance Fund (NCUSIF) equity ratio to 1.30 percent” The NCUSIF is the equivalent of the FDIC. Every credit union has to pay a one-time assessment fee in order to ensure that it’s properly funded to guarantee NCUA deposits. Credit Unions are exposed to most of the same pressures brought to bear upon banks. The fee is not optional, cannot decline the invitation, cannot claim hardship or defer payment.”]
Source: https://www.bankinfosecurity.com/blogs/credit-unions-pay-premium-for-doing-right-thing-p-149