NCUA staff projects the equity ratio for June 30, 2024 will be 1.24%, they said during the NCUA board’s May meeting.
The quarterly share insurance fund update was the only item on the meeting agenda, which was conducted by Vice Chairman Kyle Hauptman and board member Tanya Otsuka, with NCUA Chairman Todd Harper out on a medical leave of absence.
NCUA staff projects the equity ratio for June 30 and Dec. 31 of each year. It was 1.3% at the end of 2023, and staff mentioned share growth is the primary reason for the expected drop.
The update also showed the fund reported a net income of $68.1 million for the quarter ending March 31.
The NCUA announced Thursday it cancelled the scheduled board meeting for June and will meet next on July 18.
