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Title : Number of Problem CUs Fell During the First Quarter of 2016

Number of Problem CUs Fell During the First Quarter of 2016

The National Credit Union Administration (NCUA) reported that the number of problem credit unions fell during the first quarter.

At the end of the first quarter, there were 218 problem credit unions. In comparison, there were 220 problem credit unions at the end of the fourth quarter of 2015 and 258 credit unions at the end of the first quarter of 2015.

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

During the first quarter both total shares (deposits) and assets in problem credit unions fell. Shares in problem credit unions decreased from $7.7 billion at the end of 2015 to $7.5 billion as of March 31, 2016 . Over the same time period, assets in problem credit unions fell from $8.6 billion to $7.8 billion. A year earlier, problem credit unions held $10.3 billion in shares and $11.6 billion in assets.

According to NCUA, 0.78 percent of total insured shares and 0.6 percent of industry assets were in problem credit unions at the end of the first quarter.

According to NCUA, 93 percent of all problem credit unions had less than $100 million in shares, while approximately 1 percent of the problem credit unions had shares of $500 million or more.

NCUA reported that no credit union with at least $1 billion in assets was a problem credit union as of March 31, 2016. The number of problem credit unions with between $500 million and $1 billion in assets declined by 1 during the quarter to 2 credit unions. The number of problem credit unions with between $100 million and $500 million in assets fell from 15 at the end of 2015 to 14 at the end of the first quarter of 2016. Only credit unions with less than $10 million in assets saw an increase in the number of problem credit unions by 3 during the quarter to 126 credit unions.

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