NCUSIF ended year with $61.3M
ALEXANDRIA, Va. (2/19/16)--For the fourth quarter of 2015, which ended Dec. 31, the National Credit Union Share Insurance Fund (NCUSIF) reported net income of $21.1 million and year-to-date of $61.3 million. The ending reserve balance was $164.9 million.
Rendell Jones, chief financial officer of the National Credit Union Administration, presented the quarterly report at the agency's open meeting Thursday.
The NCUSIF equity ratio ended at 1.29%, with the number of problem credit unions with CAMEL Code 4/5 declining to 220, representing 0.80% of CAMEL 4/5 shares to Total Insured Shares.
Jones reported that there were 16 credit union failures in 2015.