Tuesday, July 18, 2017

IG: Four CUs Caused Losses to NCUSIF Between October 1, 2016 and March 31, 2017

Four credit unions caused losses to the National Credit Union Share Insurance Fund (NCUSIF) between October 1, 2016 and March 31, 2017, according to a Semiannual Report to the Congress issued by the National Credit Union Administration's Office of the Inspector General (IG).

The IG did not perform a material loss review on these failures, because none of the failures resulted in a loss of $25 million or more to the NCUSIF.

The following charts name the credit union, the estimated loss to the NCUSIF, and reasons for the failure of the credit union.

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