Here's a news flash: The NCUA's annual budget is a sound investment by credit unions to protect their bottom lines.
By paying $48 million in NCUA budget increases in 2010 and 2011, the industry was spared $1.5 billion in losses to the NCUSIF.
When the economic crisis hit America full force, the percentage of shares in credit unions rated CAMEL 3, 4, or 5 quadrupled from the 5% historical norm to more than 20%–and nearly 2,200 credit unions had significant problems. Several billion-dollar credit unions were on the verge of failing.
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