ALEXANDRIA, Va.-The National Credit Union Share Insurance Fund ended 2011 with an equity ratio of 1.30% after the year-end transfer from the NCUSIF to the Stabilization Fund, according to data released last week by NCUA.
Before the transfer, the NCUSIF equity ratio had risen to 1.32%. The agency noted that Federal Credit Union Act requires NCUA to transfer any NCUSIF equity above the normal operating level of 1.30% at year-end as long as the Stabilization Fund has outstanding borrowings from the U.S. Treasury.
NCUA calculated the 1.30% equity ratio for 2011 on an insured share base of $795.3 billion. NCUA said that the NCUSIF equity ratio at the end of 2010 stood at 1.28% on an insured share base of $757.9 billion. The growth in credit union insured shares for 2011 was nearly 5%. Other financials:
* The value of the NCUSIF portfolio grew about 4% during 2011 to close the year with a value of $10.7 billion, the agency said.
* During 2011, the total amount of losses associated with CU failures dropped 75% to $55 million from $221 million.
* The total number of CAMEL code 3, 4 and 5 CUs dropped to 2,150 from 2,192.
* The total assets of CAMEL code 4 and 5 credit unions fell 32% to $29.4 billion.
For 2012, the agency is projecting a 0-6 BP reduction in the NCUSIF premium in 2912.
