Monday, July 29, 2013

Number of Problem CUs Fall in Q2 2013

The National Credit Union Administration (NCUA) reported that the number of problem credit unions fell by 9 during the second quarter of 2013 to 330 federally-insured credit unions.

A problem credit union is defined as a credit union with a CAMEL 4 or 5 rating.

These problem credit unions held $15 billion in assets and $13.4 billion in deposits (shares) at the end of the second quarter. This is down from $16.8 billion in assets and $15 billion in deposits at the end of the first quarter.

According to NCUA, 1.53 percent of the industry’s shares and 1.4 percent of the industry’s assets were in problem credit unions at the end of the second quarter.

Credit unions with less than $100 million in assets accounted for all of the decline in the number of problem credit unions. There was an increase in the number of problem credit unions with between $100 million and $1 billion in assets. (see chart below)

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