ALEXANDRIA, Va. (10/25/13)--Thursday's National Credit Union Administration open board meeting featured good news for credit unions: There will be no National Credit Union Share Insurance Fund premium assessment in 2013, agency Chief Financial Officer Mary Ann Woodson reported.
Woodson on Thursday noted that the NCUSIF remains strong, with $110.3 million in net income, $11.7 billion in total assets and an equity ratio of 1.31% as of Sept. 2013.
The NCUA quarterly financial report also showed:
- The number of CAMEL code 4 and 5 credit unions declined to 317 from 330 in the second quarter, with more than half of the CAMEL 4 and 5 credit unions holding less than $10 million in assets; and
- The number of CAMEL code 3 credit unions declined to 1,483 from 1,508 in the second quarter, with 47% of those credit unions holding less than $10 million in assets.
CAMEL Code 4 and 5 credit unions held 1.58% of insured shares, or approximately $13.7 billion. CAMEL 3 credit unions held 11.13% of insured shares, or $96.7 billion. Combined, insured shares in CAMEL 3, 4, and 5 credit unions represent approximately 12.7% of total insured shares.
For a CUNA summary of the board meeting, use the resource link.