Assets and Deposits at Problem Credit Unions Decline During November

During its update on the NCUSIF, NCUA reported that the number of problem credit unions declined by 6 during November to 372; but is up by 21 since the end of 2009. A problem credit union is defined as a credit union that has a CAMEL code of 4 or 5.

Between the end of October and the end of November, shares (deposits) and assets in problem credit unions fell by $800 million to $38.3 billion and $1 billion to $43.4 billion, respectively. NCUA reported that problem credit unions held 5.10 percent of the credit union industry’s insured shares and 4.80 percent of the industry’s assets.

The number of problem credit unions with assets of $1 billion or more was unchanged during the month at 12, although shares fell by $100 million to $16.8 billion.

Problem credit unions with between $500 million and $1 billion in assets fell by 2 during November to 6. This decline in problem credit unions in the $500 million to $1 billion asset size category led to a $1.1 billion reduction in aggregate shares to $3.5 billion.

NCUA noted that the number of problem credit unions with between $100 million and $500 million in assets increased by 1 to 61 and aggregate shares increased by $500 million to $13.6 billion.