WASHINGTON – Is the NCUA's rolodex of conservatorship CEOs spinning after 4th quarter financial reports show some natural person credit union capital ratios have fallen below 6%?

Not necessarily, said spokesman John McKechnie. He said the agency's principal reason for a conservatorship is to protect the interests and assets of credit union members while preserving the NCUSIF. Reasons behind the decision to take prompt correct action are numerous and highly variable depending upon the credit union's specifics, he said.

When asked if the NCUA will take action against the $92 million The Members' Own FCU after its net worth fell to 5.88% at year-end, McKechnie said "The Federal Credit Union Act requires that NCUA apply Prompt Corrective Action standards wherever appropriate. NCUA closely monitors any insured credit union that falls below the statutory 7% net worth ratio and works actively to protect credit union member assets and the NCUSIF. We will not speculate on the condition of a specific institution."