The number of problem credit unions fell during the first quarter of 2020, according to the National Credit Union Administration (NCUA).
There were 175 problem credit unions at the end of the first quarter of 2020. In comparison, there were 190 problem credit unions at the end of 2019.
A problem credit union has a composite CAMEL rating of 4 or 5.
Shares (deposits) in problem credit unions declined from $9.7 billion at the end of 2019 to $9.4 billion, as of March 2020. At the end of first quarter of 2020, 0.77 percent of total insured shares were problem credit unions compared to 0.79 percent of total insured shares at the end of 2019.
Most problem credit unions were small credit unions.
NCUA reported that almost 88 percent of the problem credit unions have less than $100 million in assets, while 1.7 percent of problem credit unions have more than $500 million in assets.
However, almost 45 percent of insured shares in problem credit unions were in credit unions with $500 million or more in assets.
In addition, NCUA stated that reserves at the National Credit Union Share Insurance Fund increased during the first quarter of 2020 from $117 million to $177.7 million.
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