Tuesday, July 17, 2012

NCUSIF Reports $33.5 Million in Loss Expenses for May

The NCUA is reporting that the National Credit Union Share Insurance Fund (NCUSIF) recognized insurance loss expenses of $33.5 million for May, with calendar year insurance loss expenses reaching almost $37.5 million.

The report also shows that reserves for losses rose from $609.3 million for April to $642.8 million for May -- $162.3 million in reserves had been set aside for specific natural person credit unions (up from $19 million for April) and the remainder had been reserved for non-specified credit unions.

The NCUSIF equity ratio was an estimated 1.32 percent as of May.

Read the NCUSIF report.
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