ALEXANDRIA, Va.-NCUA reported that for the eighth straight month, the NCUSIF equity ratio held stable at 1.29% as of May 31. The NCUSIF ending reserve balance stood at $1.2 billion, which included an increase of $4.3 million in reserves for May.
Figures released by the agency show that gross income for May was $19.4 million with expenses of $16.2 million, resulting in net income of $3.2 million. Cumulative net income for the year is $39.5 million. Ten credit unions have failed thus far in 2011 at a cost to the NCUSIF of $39.0 million, NCUA reported.
Other related stats:
• As of May, 377 federally insured credit unions with assets of $40.5 billion and shares of $36.0 billion had CAMEL 4 or 5 designations.
• Some 1,791 CAMEL 3 credit unions had assets of $146.5 billion and shares of $129.8 billion.
• Overall, approximately 20% of all credit union assets were in CAMEL 3, 4 or 5 institutions. The percentage of assets in CAMEL 1 and 2 credit unions has increased slightly in each of the past five months.
• The Stabilization Fund total liabilities and net position stood at $401 million at the end of May, about $7 million higher than the end of April.
