Onsite Coverage: NCUA Reports Fewer Insured Shares at Problem Credit Unions
ALEXANDRIA, Va. — Fewer credit union shares are in troubled credit unions, the NCUA reported Thursday.
The agency said that the percentage of insured shares in credit unions rated CAMEL 3 or above declined slightly last month.
In June, 4.51% of insured shares were in CAMEL 4 and 5 credit unions, compared with 4.75% in May.
NCUA CFO Mary Ann Woodson told the NCUA Board at its monthly meeting that there were 381 CAMEL 4 and 5 credit unions, compared with 377 in May.
In June, 16.36% of insured shared were in CAMEL 3 credit unions, compared with 17.1% in May.
There were 1,775 CAMEL 3 credit unions in June, compared with 1,791 in May.
Woodson said the NCUSIF’s net income was $4.8 million in June and $44.8 million for all of 2011. The fund’s equity ratio was 1.28%, down from 1.29% in May.
There have been 11 credit union failures this year and they have cost the NCUSIF $40.1 million.