Problem Credit Unions Increase During Q2 2018 "Credit News 24" | Credit News 24

Problem Credit Unions Increase During Q2 2018 "Credit News 24"

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Problem Credit Unions Increase During Q2 2018 "Credit News 24"

The number of problem credit unions increased during the second quarter of 2018, according to the National Credit Union Administration (NCUA).

At the end of the second quarter of 2018, there were 210 problem credit unions. In comparison, there were 197 problem credit unions at the end of the first quarter. A year earlier there were 209 problem credit unions.

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

Total assets and shares in problem credit unions rose during the quarter. Assets in problem credit unions were $10.6 billion at the end of the second quarter -- up from $9.5 billion at the end of the first quarter of 2018. Shares in problem credit unions increased by approximately $900 million during the second quarter to $9.4 billion.

NCUA reported that 89 percent of problem credit unions have less than $100 million in assets, while only 2 percent have more than $500 million in assets.

At the end of the second quarter, 0.88 percent of total insured shares were in problem credit unions. At the end of the first quarter, 0.83 percent of total insured shares were in problem credit unions.

On June 30, 2018, 0.80 percent of the industry assets were in problem credit unions -- this was an increase from 0.70 percent as of March 2018.

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