Thursday, October 15, 2015

Problem Credit Unions Fell During Q3 2015

The National Credit Union Administration (NCUA) reported that the number of problem credit unions fell during the third quarter of 2015.

At the end of the third quarter, there were 233 problem credit unions -- down from 251 credit unions at the end of the second quarter of 2015. A year ago, the number of problem credit unions was 288.

A problem credit union has a CAMEL Code of 4 or 5.

During the third quarter, both total shares (deposits) and assets in problem credit unions fell. Shares in problem credit unions fell from $10.2 billion as of June 30, 2015 to $7.6 billion as of September 30, 2015. Over the same time period, assets in problem credit unions declined from $11.4 billion to $8.5 billion.

According to NCUA, 0.81 percent of total insured shares and 0.7 percent of industry assets are in problem credit unions at the end of the third quarter.

According to NCUA, 93 percent of all problem credit unions have less than $100 million in assets, while just over 1 percent have assets of $500 million or more. NCUA reported that no credit union with at least $1 billion in assets were a problem credit union. The number of problem credit unions with between $500 million and $1 billion in assets edged lower during the quarter from 4 credit unions to 3 credit unions.
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