January 2025 Share Insurance Fund Financial Highlights
MANAGEMENT OVERVIEW
January 31, 2025
Balance Sheets
Receivables from Asset Management Estates, Net is $77.7 million; it is comprised of natural person credit unions and corporate credit unions.
Insurance and Guarantee Program Liabilities related to Reserves are $237.0 million; $7.9 million is for specific reserves for natural person credit unions, and $229.1 million is for general reserves.
Statements of Net Cost
For the month ended January 31, 2025, the fund had a net income of $28.6 million. The fund recognized gross revenues of $49.4 million and total operating expenses of $20.8 million. The fund did not recognize any insurance loss expense during the month of January 2025.
BALANCE SHEETS
As of January 31, 2025 and 2024 (Dollars in Thousands)
ASSETS
| INTRAGOVERNMENTAL ASSETS | January 2025 | January 2024 |
|---|---|---|
INTRAGOVERNMENTAL ASSETS Fund Balance with Treasury |
January 2025 $23,679 |
January 2024 $40,325 |
INTRAGOVERNMENTAL ASSETS Investments, Net - U.S. Treasury Securities |
January 2025 22,172,660 |
January 2024 21,201,666 |
INTRAGOVERNMENTAL ASSETS Accrued Interest Receivable - Investments |
January 2025 115,562 |
January 2024 124,759 |
INTRAGOVERNMENTAL ASSETS Accounts Receivable - Due from the NCUA Operating Fund |
January 2025 1,264 |
January 2024 475 |
INTRAGOVERNMENTAL ASSETS Advances and Prepayments |
January 2025 16,670 |
January 2024 15,839 |
INTRAGOVERNMENTAL ASSETS Total Intragovernmental Assets |
January 2025 22,329,835 |
January 2024 21,383,064 |
| WITH THE PUBLIC ASSETS | January 2025 | January 2024 |
|---|---|---|
WITH THE PUBLIC ASSETS Advances and Prepayments |
January 2025 1,292 |
January 2024 1,009 |
WITH THE PUBLIC ASSETS Receivables from Asset Management Estates (AMEs), Net* |
January 2025 77,741 |
January 2024 70,019 |
WITH THE PUBLIC ASSETS Total with the Public Assets |
January 2025 79,033 |
January 2024 71,028 |
WITH THE PUBLIC ASSETS TOTAL ASSETS |
January 2025 $22,408,868 |
January 2024 $21,454,092 |
LIABILITIES
| INTRAGOVERNMENTAL LIABILITIES | January 2025 | January 2024 |
|---|---|---|
INTRAGOVERNMENTAL LIABILITIES Accounts Payable - Due to the NCUA Operating Fund |
January 2025 38 |
January 2024 10 |
INTRAGOVERNMENTAL LIABILITIES Total Intragovernmental Liabilities |
January 2025 38 |
January 2024 10 |
| WITH THE PUBLIC LIABILITIES | January 2025 | January 2024 |
|---|---|---|
WITH THE PUBLIC LIABILITIES Accounts Payable |
January 2025 2,721 |
January 2024 2,301 |
WITH THE PUBLIC LIABILITIES Insurance and Guarantee Program Liabilities* |
January 2025 236,985 |
January 2024 209,001 |
WITH THE PUBLIC LIABILITIES Other Liabilities |
January 2025 945 |
January 2024 142 |
WITH THE PUBLIC LIABILITIES Total with the Public Liabilities |
January 2025 240,651 |
January 2024 211,444 |
WITH THE PUBLIC LIABILITIES TOTAL LIABILITIES |
January 2025 $240,689 |
January 2024 $211,454 |
| NET POSITION | January 2025 | January 2024 |
|---|---|---|
NET POSITION Cumulative Results of Operations |
January 2025 4,562,892 |
January 2024 4,007,095 |
NET POSITION Contributed Capital |
January 2025 17,605,287 |
January 2024 17,235,543 |
NET POSITION Total Net Position |
January 2025 22,168,179 |
January 2024 21,242,638 |
NET POSITION TOTAL LIABILITIES AND NET POSITION |
January 2025 $22,408,868 |
January 2024 $21,454,092 |
* Receivable from AMEs, Net and Insurance and Guarantee Program Liabilities lines are generally updated quarterly.
STATEMENTS OF NET COST
For the periods ended January 31, 2025 and 2024 (Dollars in Thousands)
| GROSS COSTS | January 2025 | Year-to-Date January 2025 |
Year-to-Date January 2024 |
|---|---|---|---|
GROSS COSTS Operating Expenses* |
January 2025 $20,779 |
Year-to-Date
January 2025 $20,779 |
Year-to-Date
January 2024 $20,275 |
GROSS COSTS Provision for Insurance Losses |
|||
GROSS COSTS Reserve Expense (Reduction) |
January 2025 - |
Year-to-Date
January 2025 - |
Year-to-Date
January 2024 (6) |
GROSS COSTS Total Provision for Insurance Losses |
January 2025 - |
Year-to-Date
January 2025 - |
Year-to-Date
January 2024 (6) |
GROSS COSTS Total Gross Costs |
January 2025 20,779 |
Year-to-Date
January 2025 20,779 |
Year-to-Date
January 2024 20,269 |
| LESS EXCHANGE REVENUES | January 2025 | Year-to-Date January 2025 |
Year-to-Date January 2024 |
|---|---|---|---|
LESS EXCHANGE REVENUES Other Revenue |
January 2025 (87) |
Year-to-Date
January 2025 (87) |
Year-to-Date
January 2024 (62) |
LESS EXCHANGE REVENUES Total Exchange Revenues |
January 2025 (87) |
Year-to-Date
January 2025 (87) |
Year-to-Date
January 2024 (62) |
LESS EXCHANGE REVENUES TOTAL NET COST/(INCOME) OF OPERATIONS |
January 2025 20,692 |
Year-to-Date
January 2025 20,692 |
Year-to-Date
January 2024 20,207 |
| LESS NON-EXCHANGE REVENUES | January 2025 | Year-to-Date January 2025 |
Year-to-Date January 2024 |
|---|---|---|---|
LESS NON-EXCHANGE REVENUES Interest Revenue - Investments |
January 2025 (49,288) |
Year-to-Date
January 2025 (49,288) |
Year-to-Date
January 2024 (44,389) |
LESS NON-EXCHANGE REVENUES Total Non-Exchange Revenues |
January 2025 (49,288) |
Year-to-Date
January 2025 (49,288) |
Year-to-Date
January 2024 (44,389) |
LESS NON-EXCHANGE REVENUES TOTAL NET COST/(INCOME) INCLUDING NON-EXCHANGE REVENUES |
January 2025 $(28,596) |
Year-to-Date
January 2025 $(28,596) |
Year-to-Date
January 2024 $(24,182) |
* National Credit Union Share Insurance Fund operating expenses are an allocation of total NCUA operating expenses, as determined by the overhead transfer rate set by the Board.
STATEMENTS OF CHANGES IN NET POSITION
For the periods ended January 31, 2025 and 2024 (Dollars in Thousands)
| CUMULATIVE RESULTS OF OPERATIONS | January 2025 | January 2024 |
|---|---|---|
CUMULATIVE RESULTS OF OPERATIONS Beginning Balances |
January 2025 $4,492,048 |
January 2024 $3,966,687 |
| Non-Exchange Revenue | January 2025 | January 2024 |
|---|---|---|
Non-Exchange Revenue Interest Revenue - Investments |
January 2025 49,288 |
January 2024 44,389 |
Non-Exchange Revenue Net Unrealized Gain/(Loss) - Investments |
January 2025 42,248 |
January 2024 16,226 |
Non-Exchange Revenue Net Income /(Cost) of Operations |
January 2025 (20,692) |
January 2024 (20,207) |
Non-Exchange Revenue Change in Cumulative Results of Operations |
January 2025 70,844 |
January 2024 40,408 |
Non-Exchange Revenue CUMULATIVE RESULTS OF OPERATIONS |
January 2025 4,562,892 |
January 2024 4,007,095 |
| CONTRIBUTED CAPITAL | January 2025 | January 2024 |
|---|---|---|
CONTRIBUTED CAPITAL Beginning Balances |
January 2025 $17,605,018 |
January 2024 $17,234,861 |
CONTRIBUTED CAPITAL Change in Contributed Capital |
January 2025 269 |
January 2024 682 |
CONTRIBUTED CAPITAL CONTRIBUTED CAPITAL |
January 2025 17,605,287 |
January 2024 17,235,543 |
CONTRIBUTED CAPITAL NET POSITION |
January 2025 $22,168,179 |
January 2024 $21,242,638 |
| NET POSITION BREAKDOWN | January 2025 | January 2024 |
|---|---|---|
NET POSITION BREAKDOWN Credit Union Contributed Capital |
January 2025 $17,605,287 |
January 2024 $17,235,543 |
NET POSITION BREAKDOWN Retained Earnings |
January 2025 5,467,701 |
January 2024 5,158,167 |
NET POSITION BREAKDOWN Total Net Position Without Unrealized Gain/ (Loss) |
January 2025 23,072,988 |
January 2024 22,393,710 |
NET POSITION BREAKDOWN Unrealized Gain/ (Loss) - Investments |
January 2025 (904,809) |
January 2024 (1,151,072) |
NET POSITION BREAKDOWN NET POSITION |
January 2025 $22,168,179 |
January 2024 $21,242,638 |
Gross Income
January 2024 - January 2025
Operating Expenses
January 2024 - January 2025
Insurance Loss Expense (Reduction)
January 2024 - January 2025
INVESTMENT PORTFOLIO ACTIVITY
January 31, 2025
| I. INVESTMENT PORTFOLIO BALANCE AND MARKET VALUE (In Dollars) | Book Value | Market Value | Unrealized Gain or (Loss) | % Market to Book Value | Weighted Average Yield |
|---|---|---|---|---|---|
I. INVESTMENT PORTFOLIO BALANCE AND MARKET VALUE (In Dollars) Daily Treasury Account |
Book Value $5,591,592,000 |
Market Value $5,591,592,000 |
Unrealized Gain or (Loss) $- |
% Market to Book Value 100.00% |
Weighted Average Yield 4.32% |
I. INVESTMENT PORTFOLIO BALANCE AND MARKET VALUE (In Dollars) U.S. Treasury Notes |
Book Value 17,485,876,503 |
Market Value 16,581,067,748 |
Unrealized Gain or (Loss) (904,808,755) |
% Market to Book Value 94.83% |
Weighted Average Yield 1.93% |
I. INVESTMENT PORTFOLIO BALANCE AND MARKET VALUE (In Dollars) Total |
Book Value $23,077,468,503 |
Market Value $22,172,659,748 |
Unrealized Gain or (Loss) $(904,808,755) |
% Market to Book Value 96.08% |
Weighted Average Yield 2.51% |
| II. INVESTMENT PORTFOLIO SUMMARY | Last Month | Current Month | CY To Date |
|---|---|---|---|
II. INVESTMENT PORTFOLIO SUMMARY Investment Yield |
Last Month 2.50% |
Current Month 2.51% |
CY To Date 2.51% |
II. INVESTMENT PORTFOLIO SUMMARY Investment Income |
Last Month $49,646,600 |
Current Month $49,287,550 |
CY To Date $49,287,550 |
II. INVESTMENT PORTFOLIO SUMMARY Weighted Avg. Maturity in Days / (Years) |
Last Month 919 (2.51) |
Current Month 896 (2.46) |
CY To Date - |
III. MONTHLY ACTIVITY FOR T-NOTES
| Purchased | Amount | Maturity | Yield |
|---|---|---|---|
Purchased - |
Amount - |
Maturity - |
Yield - |
| Maturity | Amount | Purchased | Yield |
|---|---|---|---|
Maturity - |
Amount - |
Purchased - |
Yield - |
IV. MATURITY SCHEDULE (par value in millions)
TOTAL PAR VALUE - $ 23,492
TOTAL UNREALIZED GAIN/(LOSS) - $ (905)
The balances in the statement above are preliminary and unaudited.
The information provided in the portfolio summary above is preliminary and unaudited.