As of the end of October 2010, NCUA reported that the number of problem credit unions edged higher in October to 378 from 374 in September. A problem credit union is defined as a credit union that has a CAMEL code of 4 or 5.
However, shares (deposits) and assets in problem credit unions during October fell by $900 million to $39.1 billion and to $44.4 billion, respectively. The decline was attributable to a single $1 billion plus credit union migrating from a CAMEL code 4 or 5 to a CAMEL code 3.
As of October, problem credit unions accounted for 5.20 percent of all insured shares in credit unions and 4.91 percent of all assets.
For every month beginning with September 2009, more than 5 percent of the industry's insured deposits have been in problem credit unions; but the October reading of 5.20 percent is at its lowest level since the 5.13 percent of insured deposits as of the end of September 2009.
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