The NCUA is closely monitoring Ensign Federal Credit Union, which recently told the agency that its liabilities exceed its assets.NCUA Director of Public and Congressional Affairs John McKechnie said the agency is "working to ensure that members receive continuous service and their deposits remain safe" but declined to say what additional steps the agency might take.In the financial report that covers the third quarter, the credit union had a net worth ratio of negative 1.21% and equity of negative $1.1 million.The 7,900-member Henderson, Nev.-based credit union saw its assets fall by $23.5 million during 2009, from $121.5 million to $98 million.Ensign FCU President/CEO Diane Whitaker did not return phone calls seeking comment.According to the report the credit union filed with the NCUA, 13.6% of its loans were delinquent at the end of September, up from 6.27% in September 2008.Nevada has the highest foreclosure rate in the nation. Of Ensign FCU's $87.8 million loan portfolio, $68 million consist of real estate loans.During the third quarter, its loan income declined 3% and its investment income fell 26.7%.The credit union was founded in 1861 to serve members of the Mormon Church.So far this year, three credit unions in Nevada have collapsed because of the recession. One of those credit unions, Cumorah Credit Union, was also established to serve members of that church. Its assets were purchased and assumed last month by Credit Union 1 of Rantoul, Ill.–[email protected]