On-Site Coverage: NCUA Reports More CAMEL 4s and 5s and Fewer CAMEL 3s
ALEXANDRIA, Va. - There was a slight increase in CAMEL 4 and 5 credit unions last month and a slight drop in the number ranked CAMEL 3, the NCUA’s chief financial officer told her board Thursday.
Mary Ann Woodson said the agency recorded 366 CAMEL 4 and 5 credit unions at the end of March, compared with 360 at the end of February. Last month’s figure represented 4.92% of all insured shares.
At the end of March, there were 1,798 CAMEL 3 credit unions, compared with 1,803 at the end of February. March’s figure represented 17.44% of insured shares.
The NCUSIF’s net income in the first quarter of 2011 was $29.6 million, including $10.2 million in March. It had a reserve balance of $1.1 billion at the end of March.
The fund’s equity ratio was 1.29% at the end of March, as it has been for six consecutive months.
Woodson said there have been five credit union failures through March, compared with 28 in both 2010 and 2009.