ALEXANDRIA, Va. — The NCUSIF has had a net income of $374.9 million this year, including $7.3 million in November, NCUA CFO Mary Ann Woodson told the agency's board on Thursday.
When the agency made its projections last year, it predicted a $512.3 million loss during the first 11 months of 2011.
Woodson said the fund's equity ratio was 1.32% for the second consecutive month. There have been 13 credit unions closed this year, compared with 28 in 2010.
At the end of November, 3.58% of insured shares were in CAMEL 4 and 5 credit unions, compared with 3.89% at the end of October and 5.13% at the end of last year.
As of Nov. 30, 16.13% of insured shares were in CAMEL 3 credit unions, compared with 15.87% at the end of October and 18.26% at the end of last year.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
