Number of Troubled Credit Unions Grows

CU Times - 10/22/2009 - As a result of the sluggish economy, 5.13% of all insured shares are in credit unions with CAMEL 4 or 5 ratings and there are 326 credit unions with such ratings, NCUA CFO Mary Ann Woodson told the NCUA Board today.

Those credit unions represent about $36.5 billion in assets. By contrast, at the end of December there were 271 credit unions with those ratings. In addition, there are 1,634 credit unions with CAMEL 3 ratings, compared with 1,540 at the end of last December.