Number of Problem CUs Fell During Q4 2015; Assets and Shares Edge Higher

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Title : Number of Problem CUs Fell During Q4 2015; Assets and Shares Edge Higher

Number of Problem CUs Fell During Q4 2015; Assets and Shares Edge Higher

The National Credit Union Administration (NCUA) reported that the number of problem credit unions fell during the fourth quarter; but assets and shares in problem credit unions edged higher.

At the end of the fourth quarter, there were 220 problem credit unions. In comparison, there were 233 problem credit unions at the end of the third quarter of 2015 and 276 credit unions at the end of 2014.

A problem credit union has a composite CAMEL rating of 4 or 5.

During the fourth quarter both total shares (deposits) and assets in problem credit unions rose. Shares in problem credit unions increased from $7.6 billion as of September 30, 2015 to $7.7 billion at the end of 2015. Over the same time period, assets in problem credit unions rose from $8.5 billion to $8.6 billion. A year earlier, problem credit unions held $10.2 billion in shares and $11.5 billion in assets.

According to NCUA, 0.80 percent of total insured shares and 0.7 percent of industry assets were in problem credit unions at the end of the fourth quarter.

According to NCUA, 92 percent of all problem credit unions had less than $100 million in assets, while just over 1 percent of the problem credit unions had assets of $500 million or more.

NCUA reported that no credit union with at least $1 billion in assets was a problem credit union at the end of 2015. The number of problem credit unions with between $500 million and $1 billion in assets was unchanged during the quarter at 3 credit unions.

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