Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NCUSIF equity ratio up to 1.32
ALEXANDRIA, Va. (5/25/12)--The latest National Credit Union Share Insurance Fund report, which was unveiled at Thursday's open board meeting, reflects the positive trends the credit union system is experiencing, the Credit Union National Association noted.

National Credit Union Administration (NCUA) Chief Financial Officer Mary Ann Woodson reported that the NCUSIF's equity ratio stood at 1.32% as of March 31, 2012. If the NCUSIF's equity ratio is above its normal operating level of 1.30% at year-end the excess must be transferred to the Temporary Corporate Credit Union Stabilization Fund to repay its borrowings. However, in response to a question from NCUA Board Member Gigi Hyland, Woodson said the agency anticipates the equity ratio will be 1.30% at the end of 2012.

The NCUA also reported that there were 396 CAMEL 4 and 5 credit unions, representing 2.98% of insured shares, or approximately $23.7 billion in assets, as of March 31. This is a decline from the 409 troubled credit unions that were reported as of December 31, 2011. CAMEL 4 and 5 credit unions held 3.31% of total insured shares at that time, totaling $26.3 billion in total assets, the NCUA said.

CAMEL 3 credit unions held 15.13% of insured shares as of March 31, and those shares represented $120.3 billion in funds.

Combined, insured shares in CAMEL 3, 4, and 5 credit unions represent approximately 18.1% of total insured shares, down from the 19.2% total reported at the end of 2011.

There have been 7 total credit union failures thus far in 2012, as compared to a total of 16 during 2011, the NCUA report said.

The Temporary Corporate Credit Union Stabilization Fund's total net position remained constant at negative $5.2 billion, and the fund recorded a net operating income of $20.8 million as of March 31, the agency said.

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

RSS





print
News Now LiveWire
#Creditunions NOT among most disliked companies of 2014, says @MarketWatch http://t.co/N1lMHMFkjL
2 minutes ago
.@KearneyFCU in-school branch at Emerson Elementary School one of top education stories in Kearney NE in 2014 http://t.co/4riZWhV1Fn
18 minutes ago
Maine Harvest credit union project aims to help small farmers, #creditunions #NewsNow http://t.co/JyHUnS4Oja
51 minutes ago
Interchange update: Google sues MasterCard, Visa for 'supracompetitive' fees http://t.co/pHK19qdX8H
1 hours ago
.@TheNCUA supervisory letter provides MSB guidance #NewsNow http://t.co/ZOhp6nfOKw
1 hours ago