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Washington
NCUSIF Yearend equity projection at 1.27
WASHINGTON (12/19/08)—The National Credit Union Share Insurance Fund
Click to view larger image During Thursday's monthly meeting, the NCUA Board hears about the NCUSIF from agency Office of Capital Markets and Planning Director Owen Cole, Chief Financial Officer Mary Ann Woodson, and Office of Examination and Insurance Director Dave Marquis. CLICK TO ENLARGE. (Photo provided by CUNA)
(NCUSIF) is currently at 1.27% and is expected to be at that level at the end of the year, according to a monthly National Credit Union Administration (NCUA)status report. The equity level projected by NCUA Chief Financial Officer Mary Ann Woodson would preclude the possibility of an NCUSIF dividend to federally insured credit unions. Woodson also reported that there are now 257 CAMEL 4 and 5 rated credit unions, which is up from 211 at the end of last year. She indicated that 92% of these CAMEL 4 and 5 organizations have asset sizes of under $100 million. Other items of interest: The total insurance loss expense for 2008
Click to view larger image NCUSIF Insurance Loss Expense and Changes to Reserves, 1995-2008. CLICK TO ENLARGE.
is expected to be around $177 million, and actual net income for 2008 will likely be lower than the current $23 million projection. Woodson indicated that, while unlikely in her opinion, it is not impossible that the NCUSIF would end the year with a slightly negative net income. She added that checking back as far as 1971, it would be the first time the fund closed its year in that position.


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