On-Site Coverage: NCUA Board Told CAMEL 4, 5 Credit Unions Increased Last Month
ALEXANDRIA, Va. — NCUA CFO Mary Ann Woodson told the agency’s board Thursday that the number of CAMEL 4 and 5 credit unions increased last month but the percentage of total shares declined.
She said there were 374 CAMEL 4 and 5 credit unions in April, compared with 366 in March. However, those credit unions represented 4.87% of insured shares, compared with 4.92% in March.
There were 1,794 CAMEL 3 credit unions in April, representing 17.27% of insured shares, Woodson said in her report. In March, there were 1,798 CAMEL 3 credit unions and those represented 17.44% of insured shares.
Woodson said the NCUSIF’s net income through April was $36.4 million and had a reserve balance of $1.1 billion at the end of April. Its equity ratio was 1.29% at the end of March, as it has been for seven consecutive months.
She said there have been seven credit union failures through April, costing the NCUSIF $34.2 million.