And now for some CU Information as of Oct 16,2008:
"Thirteen federally insured credit unions have failed in 2008. Twelve were involuntary liquidations, of which four were purchase and assumptions, and one was an assisted merger. The number of problem code 4 and 5 credit unions has risen from 211 at year-end 2007 to 246 at September 30. These institutions represent 2.08 percent of total insured shares. Sixty-four percent of these problem code credit unions have less than $10 million in shares.
NCUSIF insurance loss expense totaled $137.2 million through September 30, 2008. The Provision for CU Losses (Reserves) account totaled $128.6 million on September 30, down from the August month-end level of $138.6 million.
The NCUSIF equity ratio is 1.28 percent, based on insured shares of $601.6 billion at June 30, 2008. The NCUSIF is expected to end the year with a 1.28 percent equity ratio based on estimated 6.85 percent annual insured share growth.
By statute, NCUSIF is not permitted to consider the temporary increase in the level of insured shares to $250,000 (thru December 31, 2009), when calculating the 1 percent capitalization deposit adjustment or setting premium charges for credit unions.
The NCUA Chief Financial Officer will report on the condition of the NCUSIF at both the November and December Board meetings."
Source of Data: http://www.ncua.gov/NCUABoard/Calend...16_results.htm
This info is available monthly pertaining to Credit Unions. I guess CU numbers are not BIG enough to get any expanded news coverage.