ALEXANDRIA, Va. — The percentage of insured shares in credit unions rated CAMEL 3 or above declined slightly last month, the NCUA reported Friday.

In May, 4.75% of insured shares were in credit unions with CAMEL 4 and 5, compared with 4.88% in April.

NCUA CFO Mary Ann Woodson reported to the agency's board that there were 377 CAMEL 4 and 5 credit unions in May, compared with 374 in April.

In May, 17.13% of insured shared were in CAMEL 3 credit unions, compared with 17.27% in April.

There were 1,791 CAMEL 3 credit unions in May, compared with 1,794 in April.

Woodson said the NCUSIF's net income was $3.2 million in May and $39.5 million for all of 2011. The fund's equity ratio remained at 1.29%.

She said there have been 10 credit union failures this year and they have cost the NCUSIF $39 million.   

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