No change in the projected year-end equity ratio of the National Credit Union Share Insurance Fund (NCUSIF) is offered in the latest briefing on the fund, provided during Thursday’s open meeting of the National Credit Union Administration (NCUA) Board.
The NCUSIF, which insures member shares (deposits) in credit unions, is expected to close 2025 at a ratio of 1.3% of insured shares, up 2 basis points from year-end 2024 and 3 basis points below the board-designated normal operating level of 1.33%.
Staff reported fund net income at $100.4 million in the third quarter and assets of $24 billion, up $0.8 billion from June 30. The fund had reserves of $240.3 million, up $2.8 million from June 30, and it earned 2.77% on its investments, staff reported, up 9 basis points from June 30.
The agency said two credit unions failures cost the NCUSIF $7 million in the third quarter.
Thursday’s report showed an increase by one in the number of CAMELS code 3 credit unions in the most recent quarter, from 667 to 668. These 668 credit unions have assets totaling $184 billion (down from $198.2 billion as of June 30) and total insured shares of $153.7 billion (down from $168.2 billion).
Total CAMELS code 4 and 5 credit unions declined by four, from 122 to 118, in the third quarter. These 118 credit unions hold total assets of $14 billion (down from $14.6 billion as of June 30) and total insured shares of $12.3 billion (down from $13 billion).
Latest information shows the remaining 3,553 federally insured credit unions had CAMELS codes of 1 or 2, the report shows.
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