ALEXANDRIA, Va.—No Share Insurance Fund premium will be needed now to bolster the NCUSIF, the NCUA board stated Thursday, as the equity ratio of the fund stood at 1.23% at the close of the second quarter and is projected to be 1.28% at year-end.
However, two board members shared concerns over the fund’s status.
The 1.28% is eight basis points away from the 1.20% statutory floor for the fund, when a restoration plan would be required.
NCUA reported second quarter financial statistics show the NCUSIF recorded net income of $46.3 million and total income of $60 million. Operating expenses were $51.1 million for the quarter. READ MORE
However, two board members shared concerns over the fund’s status.
The 1.28% is eight basis points away from the 1.20% statutory floor for the fund, when a restoration plan would be required.
NCUA reported second quarter financial statistics show the NCUSIF recorded net income of $46.3 million and total income of $60 million. Operating expenses were $51.1 million for the quarter. READ MORE
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