Share insurance fund reports $26.2M net income in 3Q

The NCUA board received an update on the National Credit Union Share Insurance Fund (NCUSIF) for the quarter ending Sept. 30 at its board meeting Thursday.

The share insurance fund reported a net income of $26.2 million, $20.2 billion in assets, and $73.7 million in total income for the third quarter of 2022. The equity ratio for the fund remains at 1.26%.

The equity ratio as of June 30, 2022, was 1.26 percent, which remained the same from December 2021, and was calculated using an insured share base of $1.69 trillion on June 30.

The number of composite CAMELS codes 4 and 5 credit unions increased 2.6% from the end of the second quarter, to 120 from 117.

NCUA’s next open board meeting—and final for 2022—is scheduled for Dec. 15.