NCUA Board Told NCUSIF Continues to Be Healthy
The NCUSIF’s equity ratio remained at 1.31% for the third consecutive month in September, according to a report given to the NCUA Board on Thursday by NCUA CFO Mary Ann Woodson.
Income for the NCUSIF was $3.6 million in September and has been $230.7 million this year. When the agency prepared the budget last year, during a much more difficult economic climate, the fund was projected to lose $420 million during the first nine months of 2011, Woodson said.
There have been 13 credit union failures this year, compared with 28 for all of 2010.
At the end of September, 3.88% of insured shares were in CAMEL 4 and 5 credit unions, compared with 3.96% at the end of August and 5.13% at the end of last year.
As of September 30, 16.59% of insured shares were in CAMEL 3 credit unions, compared with 16.75% at the end of August and 18.26% at the end of last year,the board was told.