ALEXANDRIA, Va. – Despite the market's volatility and three credit union failures last month, the NCUSIF's equity ratio stayed at 1.28%, NCUA Chief Financial Officer Mary Ann Woodson told the NCUA Board today.
The fund had $12 billion in assets at the end of February. At that time, 2.86% of all deposits were at credit unions with CAMEL 4 or 5 ratings, compared with 2.67% at the end of February 2008.
The board also gave initial approval to rules on overdraft protection to align with rules issued by the Federal Reserve. The rules require credit unions to include monthly and year to date charges for overdrafts and returned checks.
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