Post on 14-Aug-2020
NCUSIF Financial Statistics
For the Quarter EndedSeptember 30, 2019
Rendell L. Jones, CFOOffice of the Chief Financial Officer
NCUSIF Revenue and Expense
NCUSIF Third Quarter 2019 Statistics 2
September 30, 2019PRELIMINARY & UNAUDITED(In Millions)
Quarter EndedSeptember 30, 2019
Year-to-DateSeptember 30, 2019
Gross Income:
Investment Income $76.9 $230.9 Guarantee Fee Revenue 3.2 10.3Other Income - 0.4
Total Income $80.1 $241.6Less Expenses:
Operating Expenses $48.2 $143.5 Provision for Insurance Losses:
Reserve Expense 5.1 39.4 NPCU AME Loss Expense (Reduction) 22.7 3.4Corporate AME Loss Expense (Reduction) (19.9) (63.9)Total Expenses $56.1 $122.4
Net Income (Loss) $24.0 $119.2
NCUSIF Summary Balance Sheets
NCUSIF Third Quarter 2019 Statistics 3
PRELIMINARY & UNAUDITED(In Millions) September 30, 2019 June 30, 2019
Assets
Fund Balance with Treasury and Investments $15,429.6 $15,378.3 Capitalization Deposits Receivable 549.6 -Receivable from NPCU Asset Management Estates, Net 342.8 382.4 Receivable from Corporate Asset Management Estates, Net 316.5 266.9Accrued Interest and Other Assets 77.9 70.7 Total Assets $16,716.4 $16,098.3
Liabilities and Net Position
Accounts Payable and Other Liabilities $22.2 $4.3 Insurance and Guarantee Program Liabilities 115.9 111.9 Net Position – Capital Deposits 11,952.0 11,412.3 Net Position – Cumulative Results of Operations 4,626.3 4,569.8 Total Liabilities and Net Position $16,716.4 $16,098.3
September 30, 2019
NCUSIF - Insurance and Program Guarantee Liabilities
NCUSIF Third Quarter 2019 Statistics 4
September 30, 2019
PRELIMINARY & UNAUDITED Quarter Ended Year-To-Date
(In Millions) September 30, 2019 September 30, 2019
Beginning Reserve Balance: $ 111.9 $ 119.1
Reserve Expense 5.1 39.4
Charges for Assisted Mergers - -
Charges for Liquidations (1.1) (42.6)
Ending Reserve Balance $115.9 $115.9
* This table shows only NPCU Insurance and Program Guarantee Liabilities.
NCUSIF Portfolio
NCUSIF Third Quarter 2019 Statistics 5
September 30, 2019
NCUSIF Equity Ratio
NCUSIF Third Quarter 2019 Statistics 6
CY 2013 – CY 2019
CAMEL Code 4/5 CUs with Percent to Total Insured Shares
NCUSIF Third Quarter 2019 Statistics 7
CY 2014 – CY 2019
276 220 196 196 193 202 204 200
1.13%
0.80%0.83%
0.80%
0.93% 0.91%
0.82% 0.84%
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
0
50
100
150
200
250
300
350
400
450
Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Mar-19 Jun-19 Sep-19
% to
Tot
al In
sure
d Sh
ares
Num
ber o
f CAM
EL 4
/5 C
Us
CAMEL Code 4/5 Comparison
NCUSIF Third Quarter 2019 Statistics 8
June 30, 2019 to September 30, 2019
Total Shares in Billions
$0.3
$2.4
$2.9
$4.2
$0.3
$2.4
$3.2
$4.2
103
79
19
3
99
79
19
3
0 100
$0.0 $2.5 $5.0 $7.5 $10.0
<$10M
$10M to$100M
$100M to$500M
>$500M
Sep-19
Jun-19
Credit Union Size By Total Assets
June 30, 2019 September 30, 2019Total Shares: $ 9.8 Billion $ 10.1 Billion Total Assets: $ 11.0 Billion $ 11.2 Billion
CAMEL Code 3 CUs with Percent to Total Insured Shares
NCUSIF Third Quarter 2019 Statistics 9
CY 2014 – CY 2019
1,411 1,261 1,123 1,072 940 905 872 861
9.44%
8.25%
7.67%
4.54%3.99%
3.80% 3.68% 3.16%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
0
500
1,000
1,500
2,000
Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Mar-19 Jun-19 Sep-19
% to
Tot
al In
sure
d Sh
ares
Num
ber o
f CAM
EL 3
CU
s
CAMEL Code 3 Comparison
NCUSIF Third Quarter 2019 Statistics 10
June 30, 2019 to September 30, 2019
Total Shares in Billions
$1.3
$11.7
$17.0
$6.0
$8.0
$1.3
$11.4
$15.4
$5.6
$4.1
407
358
91
11
5
413
351
84
10
3
0 100
$0 $20 $40
<$10M
$10M to$100M
$100M to$500M
$500M to $1B
> $1B
Sep-19
Jun-19
Credit Union SizeBy Total Assets
June 30, 2019 September 30, 2019Total Shares: $ 44.0 Billion $ 37.7 Billion Total Assets: $ 50.4 Billion $ 43.4 Billion
Credit Union SizeBy Total Assets
Distribution of Assets in CAMEL Codes
NCUSIF Third Quarter 2019 Statistics 11
CY 2014 – CY 2019
Areas are not to scale.
90.4% 91.7% 92.3% 95.2% 95.6% 95.7% 96.0% 96.4%
8.6% 7.6% 6.9% 4.1% 3.6% 3.5%3.3% 2.9%
1.0% 0.7% 0.8% 0.7% 0.8% 0.8% 0.7% 0.7%
Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Mar-19 Jun-19 Sep-19
CAMEL 1-2 CAMEL 3 CAMEL 4-5
Number of Credit Union Failures Incurring a Loss to the Share Insurance Fund
NCUSIF Third Quarter 2019 Statistics 12
CY 2014 – CY 2019
15
16
1410
8
2
$181.85 $158.07
$17.35
$180.91
$1,568.10
$23.35
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
0
2
4
6
8
10
12
14
16
18
20
2014 2015 2016 2017 2018 2019
Tota
l Ass
ets (
in M
illio
ns)
Num
ber o
f Cre
dit U
nion
Fai
lure
s
Number of Credit Union Failures
Total Assets (in millions)
Office Contact Page
NCUSIF Third Quarter 2019 Statistics 13
Feel free to contact our office with questions or comments.
Primary Staff: Rendell L. Jones, CFOrljones@ncua.gov
Office Phone: 703-518-6570
APPENDICES
NCUSIF Third Quarter 2019 Statistics 14
Appendix I - Yield Comparisons
NCUSIF Third Quarter 2019 Statistics 15
September 30, 2019Yield
1.68%
1.94%1.88%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19
10 Year Bond NCUSIF Yield 90 Day T-Bill
Appendix II – Distribution of Assets in CAMEL Codes
NCUSIF Third Quarter 2019 Statistics 16
CY 2006 – CY Q3 2019
93.6%93.7% 87.7% 81.6% 78.1% 82.8% 86.8% 88.4% 90.4% 91.7% 92.3% 95.2% 95.6% 95.7% 96.0% 96.4%
5.5%5.4% 9.9% 12.9% 17.1%14.3% 11.4% 10.3% 8.6% 7.6% 6.9% 4.1% 3.6% 3.5% 3.3% 2.9%0.9%0.9% 2.4% 5.5% 4.8% 2.9% 1.8% 1.3% 1.0% 0.7% 0.8% 0.7% 0.8% 0.8% 0.7% 0.7%
Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Mar-19 Jun-19 Sep-19
CAMEL 1-2 CAMEL 3 CAMEL 4-5