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NCUA to Review Health of Share Insurance Fund

ALEXANDRIA, Va. -- The NCUA will receive its regularly scheduled report on the health of the National Share Insurance Fund at its meeting next Thursday.

By Claude R. Marx | Updated on October 10, 2008

ALEXANDRIA, Va. — The NCUA will receive its regularly scheduled a report on the health of the National Share Insurance Fund at its meeting next Thursday.

Although the fund has been healthy, the woes of the economy coupled with the increase in the number of credit unions that have closed has caused the agency to monitor the fund even more closely than before. As of June 30, the fund had $7.6 billion in assets and a strong equity ratio. The agency had $334 million in its reserve accounts to pay out claims in the case of credit union failure.

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