Share Insurance Fund remains strong, CAMEL 3,4,5 see big drop
ALEXANDRIA, Va. (7/24/15)--The National Credit Union Share Insurance Fund (NCUSIF) ended the second quarter of this year with an equity ratio of 1.29% and continued to reflect stable trends in income and operating expenses, according to the National Credit Union Administration.
In a briefing on the state of the fund at Thursday's open NCUA board meeting, staff reported the NCUSIF ended the second quarter of 2015 with investment and other income of $55.2 million, and operating expenses of $49.9 million.
The fund also reflected a net loss for the quarter of $8.8 million.
The equity ratio, staff noted, is calculated on an estimated insured base of $935.6 billion and reflects an additional 1% capitalization deposit that will be billed in September.
Also of note, overall, the amount of assets in CAMEL codes 3, 4 and 5 credit unions decreased 49% since reaching a high of $205.6 billion in September 2010.
The continuation of these positive trends and other factors contributed to a slight decrease of $400,000 in the Share Insurance Fund’s provision for insurance losses during the first two quarters of 2015, staff said.
Click here for the slide presentation from the meeting.