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Washington
Adjusted ROA shows slightly negative results
ALEXANDRIA, Va. (5/29/09) The National Credit Union Administration (NCUA) issued an adjusted first-quarter credit union financial report Thursday that shows the return on average assets (ROA)—with corporate credit union stabilization expenses factored out—would be very slightly negative at 0.01 %. The revised release clarifies that when federally insured credit unions’ National Credit Union Share Insurance Fund (NCUSIF) costs associated with corporate stabilization expenses are taken out, the return on average assets would be negative 0.01%. The NCUA said it considers the revised ROA figure “indicative of credit union performance.” Provisions within the Helping Families Save Their Homes Act, signed into law May 21, allow credit unions to spread the cost of NCUSIF replenishment over a longer period of time, with a total of eight years to deal with the cost of a premium assessment that has resulted from losses at wholesale corporate credit unions. Any impairment related to the NCUSIF replenishment may be booked over a seven-year period.


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