Number of Problem CUs Rose During 4th Quarter

The number of problem credit unions increased during the fourth quarter of 2011, while deposits (shares) and assets in problem credit unions fell.

The NCUA reported that the number of problem credit union rose from 384 credit unions at the end of the third quarter to 409 credit unions at the end of the fourth quarter of 2011.

Assets and deposits in problem credit unions as of the end of September were $33.9 billion and $30.4 billion, respectively. At the end of 2011, there were $29.4 billion in assets and $26.3 billion in deposits at problem credit unions.

The percentage of the industry's assets and shares in problem credit unions were 2.9% and 3.31% as of the end of 2011.

The number of problem credit unions with $1 billion or more in assets fell by 2 to 7 during the quarter. In addition, there was 6 fewer problem credit unions with between $100 million and $500 million in assets.

On the other hand, the number of problem credit unions with between $500 million and $1 billion increased by 1 to 4 credit unions.