Even if the institution gets an A or A+, click on it and read down
to the comparisons of the loan loss allowances and
the unbacked nonCurrent loans compared to the previous filing listed.
I looked up only 8 of the credit unions and was somewhat aghast at the differences when the reports were compared. Some of the credit unions I looked up had unbacked nonCurrent loans that had doubled from the last report even though all of them had 0 for the loan loss allowances this time but had several million dollars on the previous report. I have been waiting for someone to post this on this site and no one has.
Just using common sense it doesn't seem good. I have called NCUA with a couple of questions and had to leave a message and as yet no callback. I will be gone for a good share of the day and asked for the answers to my questions to be put on my answering machine.
Has anyone looked at this information that Ken provides for us? Am I overreacting?
My other question the NCUA site does not answer is.
If I have a large CD with 2 beneficiaries I am insured I know up to $500,000. If one of my beneficiaries has just gotten a joint CD with 2 beneficiaries for $900,000 are we all still insured?
