369 Problem Credit Unions at the End of January

NCUA reported today that the number of problem credit unions in January was 369. A problem credit union is defined as a credit union that has a CAMEL code of 4 or 5.

Shares (deposits) and assets in problem credit unions as of the end of January were $38.2 billion and $42.9 billion, respectively. NCUA reported that problem credit unions held 5 percent of the credit union industry’s insured shares and 4.75 percent of the industry’s assets.

There were 10 problem credit unions with $1 billion or more in assets holding $17.6 billion in shares. The number of problem credit unions with between $500 million and $1 billion in assets was unchanged at 6 with $3.9 billion in shares. There were 56 problem credit unions with between $100 million and $500 million in assets holding $12 billion in shares.