Onsite Coverage: NCUSIF Income Up, Equity Ratio Unchanged
ALEXANDRIA, Va. — The NCUSIF has had a net income of $374.9 million this year, including $7.3 million in November, NCUA CFO Mary Ann Woodson told the agency’s board on Thursday.
When the agency made its projections last year, it predicted a $512.3 million loss during the first 11 months of 2011.
Woodson said the fund’s equity ratio was 1.32% for the second consecutive month. There have been 13 credit unions closed this year, compared with 28 in 2010.
At the end of November, 3.58% of insured shares were in CAMEL 4 and 5 credit unions, compared with 3.89% at the end of October and 5.13% at the end of last year.
As of Nov. 30, 16.13% of insured shares were in CAMEL 3 credit unions, compared with 15.87% at the end of October and 18.26% at the end of last year.