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Title : The Number of Problem CUs Fell; But Shares and Assets Increased at Problem CUs

The Number of Problem CUs Fell; But Shares and Assets Increased at Problem CUs

The National Credit Union Administration (NCUA) reported today that the number of problem credit unions fell during the second quarter; but share and assets at problem credit unions grew during the quarter.

At the end of the second quarter, there were 209 problem credit unions. In comparison, there were 218 problem credit unions at the end of the first quarter of 2016 and 258 credit unions at the end of the second quarter of 2015.

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

During the second quarter both total shares (deposits) and assets in problem credit unions rose. Shares in problem credit unions increased from $7.5 billion as of March 31, 2016 to $8.4 billion as of June 30. Over the same time period, assets in problem credit unions rose from $7.8 billion to $9.5 billion. A year earlier, problem credit unions held $10.2 billion in shares and $11.4 billion in assets.

According to NCUA, 0.85 percent of total insured shares and 0.8 percent of industry assets were in problem credit unions at the end of the second quarter.

NCUA reported that 1 credit union with at least $1 billion in assets was a problem credit union as of June 30, 2016 (this credit union was most likely Melrose Credit Union in Briarwood, NY). The number of problem credit unions with between $500 million and $1 billion in assets was unchanged during the quarter at 2 credit unions. The number of problem credit unions with between $100 million and $500 million in assets was unchanged at 14 at the end of the second quarter of 2016. Only credit unions with less than $10 million in assets saw a decrease in the number of problem credit unions by 12 during the quarter to 114 credit unions.

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