ALEXANDRIA, Va. — The NCUSIF has $7.8 billion in assets and a strong equity ratio, but the increase in the number of credit unions experiencing difficulties is placing some strains on the fund, NCUA Chief Financial Officer Mary Ann Woodson told the board last Thursday.
The agency has $128 million in its reserve accounts–of which $103 million is unallocated reserves–to pay out claims in the case of credit union failures.
The fund's equity ratio in September was 1.28%, an increase from June's level of 1.24%, which is within the 1.20%-1.50% required by law. The agency projects it will end the year with an equity ratio of 1.28%, compared to 1.29% at the end of last year.
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