ALEXANDRIA, Va. – NCUA said the total assets in CAMEL code 3, 4 and 5 credit unions fell by $10.7 billion during Q3 as the NCUSIF equity ratio rose to 1.32% as of Sept. 30.
The percentage of assets in troubled credit unions is at its lowest point since 2008. Overall, 15.1% of all federally insured credit union assets were in CAMEL code 3, 4 or 5 institutions, resulting in a one-percentage-point improvement from the end of the second quarter.
CAMEL code 4 and 5 credit unions decreased by 17, for a total of 382 as of Sept. 30. Assets and shares were $26.3 billion and $23.5 billion, respectively. As a percentage, CAMEL code 4 and 5 credit unions represented 2.8% of total insured shares.
For Q3, the NCUSIF reported gross income of $53.6 million and operating expenses of $38.7 million. The fund also reduced its reserve for insurance losses by $147.2 million, resulting in an increase in net income. The NCUSIF had net income of $162.1 million for the quarter and $167.6 million year-to-date through Sept. 30.