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NCUA's Share Insurance Fund Report - Increase in Problem Credit Unions

Friday, January 29, 2010 - 5:55 PM
From the NCUA's Fund Report:
With a net increase of 80 institutions during 2009, there were 351 problem code credit unions at year-end 2009, with shares of $41.6 billion representing 5.82 percent of total insured shares. In comparison, 271 problem code credit unions held shares of $16.3 billion representing 2.70 of total shares at year-end 2008.

Posing additional concern to NCUA, currently there are 1,668 code 3 credit unions, an increase of 134 from year-end 2008. These institutions represent $98.6 billion, or 13.67 percent of total insured shares. Currently, nearly 20 percent of insured shares are held in troubled or stressed credit unions.
I'm surprised about the last sentence. 20% seems too high, but I'm not sure of NCUA's definition of a stressed credit union.
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Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
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