ALEXANDRIA, Va. (2/19/10)--While the most recent National Credit Union Share Insurance Fund (NCUSIF) report showed an equity ratio of 1.24% through this January, the National Credit Union Administration’s (NCUA) Chief Financial Officer Mary Ann Woodson explained that that 1.24% equity ratio does not include the billing associated with the 1% deposit, which if included would result in a 1.26% equity ratio. Staff indicated that, in the aggregate, CAMEL 4 and 5 credit unions hold approximately $42 billion of insured shares—up slightly from the previous month. There are currently 357 CAMEL 4 and 5 credit unions, a 2.67% increase from the number reported last year. Woodson also updated the NCUA board on the status of CAMEL 3 credit unions, of which there are currently 1,665, representing 13.69% of total insured shares. Insured shares in CAMEL 3, 4, and 5 credit unions currently represent 19.5% of total insured shares. The number of CAMEL 3, 4 and 5 credit unions is a source of concern for the NCUA, and Chairman Debbie Matz reiterated her stance that the NCUA will closely monitor credit unions for potential red flags to “mitigate” any potential effects on the NCUSIF. Although Woodson reported a loss expense estimate of $750 million for 2010, she said that this amount is being used solely for budgeting purposes and does not represent expected losses. However, Woodson said that she expects 2010 to be as financially challenging as 2009 was for the NCUSIF.