Monday, July 30, 2012

TAG CUs

The Dodd-Frank Act provided unlimited deposit insurance for non-interest bearing transaction accounts until the end of 2012.

According to NCUA, there were 822 federally-insured credit unions that held approximately $2.5 billion in non-interest bearing transaction accounts in excess of $250,000 at the end of the first quarter of 2012.

As expected, the bulk of the transaction account guarantee (TAG) accounts resided with the largest credit unions:

  • $1.45 billion was held by credit unions with more than $1 billion in assets.

  • Credit unions with between $500 million and $1 billion in assets held $263.5 billion.

  • Credit unions with between $100 million and $500 million in assets held almost $504 million.

The following table identifies the 25 credit unions with the most TAG deposits as of March 2012. First Tech CU in Palo Alto (CA) accounted for about 20 percent of all TAG deposits at credit unions.



Posted by at
Labels: ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.