ALEXANDRIA, Va.–The economy may be improving but credit unions are still hurting and that's reflected in today's report on the NCUSIF.
NCUA CFO Mary Ann Woodson told the NCUA Board that the fund lost $11.3 million in June. It's less than the $54.7 million that the fund was projected to lose. The fund's reserve balance at the end of June was $1 billion.
The fund's equity ratio was 1.21% at the end of May, down from 1.22% at the end of June. Matz said on July 22 that if current projections are correct, the equity ratio could drop below 1.2% by the fall.
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