Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

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.


RSS print
News Now LiveWire
The Hill reports House Republicans plan to delay Aug. recess to stay in D.C. until they have enough votes to pass bill on border crisis.
9 hours ago
The FHLBs of Des Moines and Seattle announce they have entered into an exclusivity arrangement regarding potential merger of the 2 entities.
9 hours ago
SunCorp and @AlloyaCorp have announced their intent to merge.
12 hours ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI. http://t.co/owtVnPxVZT
12 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
14 hours ago