Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
December 08 NCUSIF insurance loss 113.4 million
Click to view larger image Click for larger view
ALEXANDRIA, Va. (1/23/09)—The National Credit Union Share Insurance Fund (NCUSIF) projected an insurance loss for December 2008 at $113.4 million, according to its year-end report. At a National Credit Union Administration (NCUA) open board meeting Thursday, staff continued to project a 1.27% equity level for 2008. That figure precludes the possibility of an NCUSIF dividend to federally insured credit unions. The NCUSIF also posted gross income of $129.9 million in December 2008. Of that, $106 million of the gross income was from the NCUSIF’s sale of longer-term U.S. Treasury Department Securities that appreciated in value. Approximately $97 million of the $113.4 million insurance loss .
Click to view larger image Click for larger view
expense went to unallocated reserves in order to move the NCUSIF’s insurance loss reserves from the minimum level required to its “midpoint,” according to the NCUA. Other details: NCUSIF reported there are currently 271 low-ranked CAMEL 4 and 5 credit unions, up 28% from 211 at the end of 2007. The total insurance loss expense for 2008 is estimated to be $290.4 million.
Other Resources

RSS print
News Now LiveWire
How #creditunions use FHLBs in their operations, Part 3 #NewsNow #System http://t.co/DXgRqXiRAn
30 minutes ago
Retirement reality fairs: Looking at post-work futures today. #NewsNow http://t.co/IcM4uK3IOl
40 minutes ago
#HomeDepotBreach: What it means for consumers with 56 million compromised cards See #NewsNow http://t.co/9MJ9JTnHYC
1 hours ago
Welcome to Jim @Nussle as @CUNA pres/CEO today #NewsNow http://t.co/Y2pRFv6diW
1 hours ago
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
16 hours ago