Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NEW: CU financials continue positive trend, NCUA reports
ALEXANDRIA, Va. (2/20/14, UPDATED: 2:25 P.M. ET)--The recent trend of positive financial results for the credit union system continued today, with the National Credit Union Administration reporting continued declines in the number of CAMEL code 3, 4 and 5 credit unions.

The NCUA in its quarterly report on the status of the National Credit Union Share Insurance Fund said there are currently 307 CAMEL 4 and 5 credit unions, which represent 1.40% of insured shares, or approximately $12.1 billion. NCUA staff also noted that there are 1,480 CAMEL 3 credit unions, which represent 11.19% of insured shares, or $96.9 billion. Combined, insured shares in CAMEL 3, 4, and 5 credit unions represent approximately 12.6% of total insured shares.

According to the NCUA, the amount of assets in CAMEL code 3, 4 and 5 credit unions have decreased 40.5% since reaching a high in September 2010. "The continuation of these positive trends and other factors contributed to a net decrease of $191.8 million, or 46.5 percent, in the Share Insurance Fund's reserve for insurance losses during 2013," the agency added.

The total number of credit union failures also declined last year, falling to 17 from the 2012 total of 22.

"Protecting the Share Insurance Fund is NCUA's top priority, and the 2013 year-end results reflect the agency's prudent management and effective approach to regulation," NCUA Chairman Debbie Matz said. "The metrics continue trending in the right direction. Liquidations and assisted mergers fell sharply, with a substantial drop in actual losses to the fund."


RSS





print
News Now LiveWire
Consumer spending is slumping #Market #Economy http://t.co/RI4HS68IuJ
6 hours ago
April is #NationalFinancialLiteracyMonth & @TheNCUA Chair Matz urges #creditunions to help members learn to manage/protect their finances.
8 hours ago
Fed. FI regulators' statmnts on compromised credentials/destructive malware #cybersecurity http://t.co/f4uTBDm1PU http://t.co/zP5Iw6VxZc
9 hours ago
Home prices rising faster than wages: @RealtyTrac #NewsNow #Market http://t.co/wa74mnw3Cu
11 hours ago
.@Nussle dropped by the @ACUMuseum recently. Read about his visit http://t.co/bYe8RRgYLP
12 hours ago