Friday, April 21, 2017

NCUSIF Reserve Balance Increased by $49 Million During the First Quarter of 2017

The National Credit Union Administration reported that reserve expenses for the National Credit Union Share Insurance Fund (NCUDIF) increased during the first quarter.

NCUA had estimated that NCUSIF reserve expenses would increase by $28 million during the first quarter of 2017. However, actual NCUSIF reserve expenses rose by $49.2 million - more than anticipated.

NCUA reported that charges for liquidation declined by about $200 thousand during the first quarter.

As a result, reserve balance at the NCUSIF increased by $49 million from $196.6 million on December 31, 2016 to $245.6 million on March 31, 2017.

According to NCUA, $8.8 million is for specific natural person credit unions and $236.8 million is for general reserves.

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