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News Now

Washington
Number of CAMEL 3-5 CUs dips slightly
ALEXANDRIA, Va. (3/18/11)—The number of CAMEL Code 3, 4 and 5 credit unions fell between January and February, and those troubled credit unions hold a combined $172 billion in assets, the National Credit Union Administration (NCUA) reported on Thursday. NCUA CFO Mary Ann Woodson reported that there are currently 360 CAMEL 4 and 5 credit unions, representing 5% of insured shares, and 1803 CAMEL 3 credit unions, representing 18% of insured shares. The equity ratio of the National Credit Union Share Insurance Fund stood at 1.29% as of February 28, and the fund held $758 billion in insured shares and $1.2 billion in reserves at that time, Woodson said. The agency last month did not write off any of the NCUSIF’s assets as insurance loss expenses in February. The NCUA had budgeted $54.2 million in funds to cover insurance loss expenses during that month. Woodson also reported on the status of the Temporary Corporate Credit Union Stabilization Fund, noting that that fund’s net equity position was negative $5.984 billion as of February 28. This is an improvement from January’s numbers.


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