Thursday, September 22, 2011
Problem CU Update
NCUA reported today that the number of problem credit unions, assets in problem credit unions, and deposits (shares) in problem credit unions fell in August.
A problem credit union has a CAMEL rating of 4 or 5.
At the end of August, there were 369 problem credit unions -- down from the recent high of 381 credit unions in June.
Assets and shares in problem credit unions were to $34.8 billion and $30.9 billion, respectively. The percentage of the industry's assets and shares in problem credit unions were 3.5% and 3.96%.
The decline in assets and deposits in problem credit unions in August arose from one $1 billion plus credit union and two credit unions with between $500 million and $1 billion no longer being rated as a CAMEL 4 or 5. These three institutions accounted for a combined $5.7 billion decline in deposits on the problem list.
A problem credit union has a CAMEL rating of 4 or 5.
At the end of August, there were 369 problem credit unions -- down from the recent high of 381 credit unions in June.
Assets and shares in problem credit unions were to $34.8 billion and $30.9 billion, respectively. The percentage of the industry's assets and shares in problem credit unions were 3.5% and 3.96%.
The decline in assets and deposits in problem credit unions in August arose from one $1 billion plus credit union and two credit unions with between $500 million and $1 billion no longer being rated as a CAMEL 4 or 5. These three institutions accounted for a combined $5.7 billion decline in deposits on the problem list.
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