The National Credit Union Administration reported that the number of problem credit unions fell by 12 during the quarter to 276 credit unions at the end of 2014. There are 31 fewer problem credit unions compared to a year ago.
A problem credit union has a CAMEL rating of 4 or 5.
Problem credit unions held $10.2 billion in shares (deposits) and $11.5 billion in assets at the end of 2014. In comparison, deposits (shares) at problem credit unions were $12.4 billion at the end of the third quarter and assets at problem credit unions were $14 billion as of September 2014.
Shares at problem credit unions equaled 1.13 percent of the industry's insured shares and approximately 1 percent of the industry's assets.
The number of problem credit unions with $500 million or more in assets declined from 6 to 5 during the fourth quarter. At the end of the quarter, these 5 problem credit unions held $3.9 billion in shares.
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