Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Agency insurance losses remain below estimates
ALEXANDRIA, Va. (4/22/11)—The National Credit Union Administration (NCUA) did not report writing off any National Credit Union Share Insurance Fund (NCUSIF) assets as insurance loss expense for the second time in as many months.
Click to view larger image Click for larger view
Click to view larger image Click for larger view
The agency had originally budgeted $54.2 million in funds to cover expected insurance loss expenses for the month of March but those projected losses did not materialize. NCUA CFO Mary Ann Woodson reported that the NCUSIF’s equity ratio stood at 1.29% as of March 31, and added that $140 million of the NCUSIF’s $1.2 billion in reserves are allocated for expected losses related to specific, troubled natural-person credit unions. A total of $1 billion of those NCUSIF reserves remain unallocated. Woodson in her report noted that the number of CAMEL Code 4 and 5 credit unions increased by 6 in March. The 366 total CAMEL 4 and 5 credit unions represent 5% of insured shares, or $37 billion. The number of CAMEL 3 credit unions declined by 5, dropping that total to 1798. CAMEL 3 credit unions represent 17% of insured shares, or $132 billion. To access this month's NCUA insurance report, use the resource link.
Other Resources

RSS print
News Now LiveWire
Breaking at #NewsNow: Matz to request revised RBC proposal, new comment period http://t.co/eLtYmzXRWn
10 hours ago
#NewsNow: Oct. 22 webinar will explore role of CDFI #creditunions. http://t.co/op1GV4mrYM
13 hours ago
CFPB announces $10M fine,$27.5M restitution v. Mich.-based Flagstar Bank for allegedly illegally blocking borrowers’ attempts to save homes.
14 hours ago
#NewsNow: Proposed MLA changes could restrict CU payday alternative loans. http://t.co/eKqtyMHD0P
14 hours ago
44 #creditunion professionals earn Development Educators designation #NewsNow http://t.co/GG551ofq31
14 hours ago