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NCUSIF report shows drop in low-ranked CUs
ALEXANDRIA, Va. (4/25/14)--The National Credit Union Share Insurance Fund ended the first quarter of this year with an equity ratio of 1.30% and reserves at approximately $227.5 million, according to the National Credit Union Administration's quarterly update delivered during a Thursday open board meeting.
 
The NCUA did not assess a Share Insurance Fund premium in 2013, and if the current equity ratio holds steady, a premium would be unlikely this year.  However, the NCUA said the board will make that determination for 2014 at its open meeting on July 31.
 
Click to view larger image Source: NCUA
Of the $227.5 million in reserves, $19.3 million is allocated for specific credit unions. Six federally insured credit unions failed during the first quarter of 2014. The total amount of losses associated with those failures was $18.6 million. A total of 17 credit unions were liquidated in 2013.

The NCUA also reported that there are currently 306 low-rated CAMEL 4 and 5 credit unions. They hold approximately $11.9 billion of insured shares, which is about 1.4% of total insured shares.  That 1.37% is a significant improvement since the peak in December 2009 when CAMEL 4 and 5 credit unions represented of 5.72% of insured shares.
 
The agency staff also noted that there are 1,471 CAMEL 3 credit unions, which represent 11.02% of insured shares, or $95.5 billion. Combined, insured shares in CAMEL 3, 4, and 5 credit unions represent approximately 12.39% of total insured shares, according to the agency report.


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