Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NCUA sees improvement in CAMEL Code CUs
WASHINGTON (7/25/12)--The National Credit Union Administration (NCUA) cited an improvement--small though it may be--in the percentage of credit union assets now being held by institutions with lower CAMEL ratings.

In its most recent report on the status of credit union industry insurance funds, the NCUA reported CAMEL code 3, 4, or 5 institutions represented 16.1% of credit union assets as of June 30,  down from the previous quarter's total of 16.3%.

A total of 1,679 credit unions were classified as CAMEL Code 3 in the most recent quarter, eclipsing the previous quarter's total by 17. CAMEL 3 credit unions held 14.7% of insured shares in the quarter ended June 30, and those shares represented $123 billion in funds. CAMEL 3 credit unions held $138 billion in assets during the quarter, the NCUA reported.

The number of CAMEL 4/5 credit unions also increased by three in the most recent quarter, bringing the total to 399 as of June 30. Camel 4/5 credit unions held nearly $57 billion in total assets, and 3.2% of insured shares, according to the NCUA.

NCUA Chief Financial Officer Mary Ann Woodson reported that the National Credit Union Share Insurance Fund (NCUSIF) and the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) both remained steady during the second quarter of 2012. The NCUSIF's equity ratio was 1.3%, within the NCUA's normal operating level. NCUA staff released the 2012 TCCUSF assessment during Tuesday's meeting. (See related News Now story: 2012 TCCUSF assessment is 9.5 bp)

The NCUSIF lost $13.4 million during the quarter. However, the NCUSIF recorded $5.5 million in net income during the first half of 2012. Twelve consumer credit unions have failed so far in 2012, and these failures have created $94.6 million in costs, the NCUA said.

For more on the NCUA meeting, use the resource link.
Other Resources

RSS print
News Now LiveWire
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
56 minutes ago
Before @TheNCUA meeting adjourned, board member Fryzel said goodbyes, praised dedicated CU officials. 1of 2
58 minutes ago
.@TheNCUA revised budget is down by $1.1 mil for year ending Dec 31, 2014. That brings total revised budget to $266,920,296.
1 hours ago
.@TheNCUA says it will update it NCUA Guaranteed Notes (NGA) report on its website in October.
1 hours ago
Also carved out from the @TheNCUA fixed-asst plan, CUs with less than $1 million in assets.
2 hours ago