insurance
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Strong Share Insurance Fund operating trends continue

According to the NCUA, the National Credit Union Share Insurance Fund posted net income of $24.0 million in the third quarter of 2019, primarily due to strong investment income earnings.

The Share Insurance Fund’s net position was $16.7 billion at the end of the third quarter, and the equity ratio was 1.33 percent. The NCUA calculated the equity ratio on an insured share base of $1.2 trillion.

Third-quarter investment and other income was $80.1 million or a 1.4 percent decrease in income from $81.2 million during the second quarter of 2019. Operating expenses were $48.2 million. The provision for insurance losses increased by $7.9 million.

For the third quarter of 2019, the Chief Financial Officer reported:

  • The number of CAMEL codes 4 and 5 credit unions decreased 2.0% from the second quarter of 2019 to 200 from 204. Assets for these credit unions increased 1.8% from the second quarter of 2019 to $11.2 billion from $11.0 billion.
  • The number of CAMEL code 3 credit unions decreased 1.3% from the second quarter of 2019 to 861 from 872. Assets for these credit unions decreased 13.9% from the second quarter of 2019 to $43.4 billion from $50.4 billion.

Two federally insured credit unions failed through the third quarter of 2019, compared to six through the third quarter of 2018. Total year-to-date losses associated with failed credit unions is $40.3 million, compared to $752.5 million in the third quarter of 2018.

Written by
Cara Clark
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About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

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