Fewer losses, portfolio growth and a decline in at-risk creditunions helped the NCUA beat budgeted expectations for the NCUSIF in2011, the agency's board reported Thursday.
|According to a report from the meeting, the fund ended last yearwith $627 million when it had budgeted expected losses of $559million. That allowed a transfer of $278.6 million from theNCUSIF to the TemporaryCorporate Credit Union Stabilization Fund, the agency said.
|The board also learned Thursday that credit union failuresdropped by more than 40% to 16 failures from 28 failures in thepast year, and that the total amount of losses associated withcredit union failures dropped 75% to $55 million from $221million.
|Also Thursday, the board voted unanimously to approve amendmentsto existing NCUA regulations which would largely changedesignations for which offices did what and clarifyresponsibilities belonging to different parts of the agency.
|The board also approved an NCUA Diversity and Inclusion Planwhich was mandated by the Dodd-Frank Act.
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