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December 18, 2009 - The National Credit Union Administration (NCUA) reported an increase of 71 CAMEL code 4 and 5 credit unions since this time last year in its monthly report on the National Credit Union Share Insurance Fund (NCUSIF).
In November 2008, there were 257 CAMEL code 4 and 5 credit unions and now there are 328 credit unions in that range, representing 5.63 percent of all insured shares. This time last year, CAMEL code 4 and 5 credit unions comprised 2.19 percent of insured shares.
Ten credit unions with more than $1 billion in assets are rated CAMEL 4 or 5, for a total of $17.1 billion in assets. The majority of CAMEL 4 or 5 credit unions – 102 – are $10-$100 million in assets, followed by 51 in the $100-$500 million asset range. The total assets in the $10-$500 million range of CAMEL code 4 or 5 credit unions are approximately $15.4 billion.
The number of CAMEL code 3 credit unions has also increased from 1,491 a year ago to 1,629 as of November 30, 2009. The current 1,629 CAMEL code credit unions represent 13.22 percent of shares versus 6.67 percent last year.
The NCUA also reported 24 credit union failures in 2009; 18 failed in 2008. To view the materials from the November 2009 NCUSIF report, follow this link to NCUA’s website.
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