Share insurance fund report slated Thursday for NCUA Board

How close the National Credit Union Share Insurance Fund (NCUSIF) is to achieving a staff-projected, year-end equity ratio of 1.3% may be revealed Thursday during the National Credit Union Administration (NCUA) Board open meeting, which has a quarterly report on the fund as its only agenda item.

The last quarterly report was briefed to the board in September. Then, staff reported the fund at a 1.26% equity ratio as of June 30. At time, staff was projecting the fund will rise to 1.3% by Dec. 31.

The fund’s 1.26% equity ratio is the highest the fund has reached (and the third time such a level has been reported) since it dipped to 1.22% in June 2020 due to a rapid influx of deposits amid the COVID-19 pandemic.

NCUA in September reported the following based on June 30 figures:

  • The number of composite CAMEL codes 4 and 5 credit unions decreased from 125 to 117 from the end of the first quarter of 2022. Assets for these credit unions decreased from the first quarter, to $3.7 billion from $3.8 billion.
  • The number of composite CAMEL code 3 credit unions increased from 751 to 755 from the end of the first quarter of 2022. Assets for these credit unions increased from the first quarter of 2022, to $44.5 billion from $43.8 billion.
  • At the end of the second quarter of 2022, there were three federally insured credit union failures that are projected to cost the Share Insurance Fund approximately $660,000 in losses.

Thursday’s open meeting is set to begin at 10 a.m., viewable in person and via webcast.

Board Agenda for the November 17, 2022 Meeting

NCUSIF Financial Statistics, quarter ending June 30, 2022

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