October 2026
June 2026 Share Insurance Fund Financial Highlights
June 30, 2026
BALANCE SHEETS
As of June 30, 2026 and 2025 (Dollars in Thousands)
ASSETS
| INTRAGOVERNMENTAL ASSETS | June 2026 | June 2025 |
|---|---|---|
| Fund Balance with Treasury | $27,182 | $18,637 |
| Investments, Net - U.S. Treasury Securities | 24,214,713 | 22,966,574 |
| Accrued Interest Receivable - Investments | 151,061 | 91,568 |
| Accounts Receivable - Due from the NCUA Operating Fund | 3,542 | 3,758 |
| Advances and Prepayments | 13,521 | 14,039 |
| Total Intragovernmental Assets | 24,410,019 | 23,094,576 |
| WITH THE PUBLIC ASSETS | June 2026 | June 2025 |
|---|---|---|
| Advances and Prepayments | 571 | 273 |
| Receivables from Asset Management Estates (AMEs), Net* | 56,474 | 90,628 |
| Total with the Public Assets | 57,045 | 90,901 |
| TOTAL ASSETS | $24,467,064 | $23,185,477 |
LIABILITIES
| INTRAGOVERNMENTAL LIABILITIES | June 2026 | June 2025 |
|---|---|---|
| Accounts Payable - Due to the NCUA Operating Fund | 27 | 3 |
| Total Intragovernmental Liabilities | 27 | 3 |
| WITH THE PUBLIC LIABILITIES | June 2026 | June 2025 |
|---|---|---|
| Accounts Payable | 1,379 | 1,624 |
| Insurance and Guarantee Program Liabilities* | 336,994 | 237,522 |
| Other Liabilities | 180 | 2,469 |
| Total with the Public Liabilities | 338,553 | 241,615 |
| TOTAL LIABILITIES | $338,580 | $241,618 |
| NET POSITION | June 2026 | June 2025 |
|---|---|---|
| Cumulative Results of Operations | 5,472,786 | 5,120,470 |
| Contributed Capital | 18,655,698 | 17,823,389 |
| Total Net Position | 24,128,484 | 22,943,859 |
| TOTAL LIABILITIES AND NET POSITION | $24,467,064 | $23,185,477 |
* Receivable from AMEs, Net and Insurance and Guarantee Program Liabilities lines are generally updated quarterly.
STATEMENTS OF NET COST
For the periods ended June 31, 2026 and 2025 (Dollars in Thousands)
| GROSS COSTS | June 2026 | Year-to-Date June 2026 | Year-to-Date June 2025 |
|---|---|---|---|
| Operating Expenses* | $17,748 | $107,394 | $122,917 |
| Provision for Insurance Losses | |||
| Reserve Expense (Reduction) | 98,342 | 115,020 | 17,598 |
| AME Receivable Bad Debt Expense | (53) | (7,149) | (743) |
| Total Provision for Insurance Losses | 98,289 | 107,871 | 16,855 |
| Total Gross Costs | 116,037 | 215,265 | 139,772 |
| LESS EXCHANGE REVENUES | June 2026 | Year-to-Date June 2026 | Year-to-Date June 2025 |
|---|---|---|---|
| Other Revenue | (25) | (599) | (334) |
| Total Exchange Revenues | (25) | (599) | (334) |
| TOTAL NET COST/(INCOME) OF OPERATIONS | 116,012 | 214,666 | 139,438 |
| LESS NON-EXCHANGE REVENUES | June 2026 | Year-to-Date June 2026 | Year-to-Date June 2025 |
|---|---|---|---|
| Interest Revenue - Investments | (61,594) | (351,246) | (301,188) |
| Total Non-Exchange Revenues | (61,594) | (351,246) | (301,188) |
| TOTAL NET COST/(INCOME) INCLUDING NON-EXCHANGE REVENUES | $54,418 | $(136,580) | $(161,750) |
* 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 June 30, 2026 and 2025 (Dollars in Thousands)
| CUMULATIVE RESULTS OF OPERATIONS | June 2026 | June 2025 |
|---|---|---|
| Beginning Balances | $5,535,684 | $4,492,048 |
| Non-Exchange Revenue | June 2026 | June 2025 |
|---|---|---|
| Interest Revenue - Investments | 351,246 | 301,188 |
| Net Unrealized Gain/(Loss) - Investments | (199,478) | 466,672 |
| Net Income /(Cost) of Operations | (214,666) | (139,438) |
| Change in Cumulative Results of Operations | (62,898) | 628,422 |
| CUMULATIVE RESULTS OF OPERATIONS | 5,472,786 | 5,120,470 |
| CONTRIBUTED CAPITAL | June 2026 | June 2025 |
|---|---|---|
| Beginning Balances | $18,328,307 | $17,605,018 |
| Change in Contributed Capital | 327,391 | 218,371 |
| CONTRIBUTED CAPITAL | 18,655,698 | 17,823,389 |
| NET POSITION | $24,128,484 | $22,943,859 |
| NET POSITION BREAKDOWN | June 2026 | June 2025 |
|---|---|---|
| Credit Union Contributed Capital | $18,655,698 | $17,823,389 |
| Retained Earnings | 5,951,683 | 5,600,856 |
| Total Net Position Without Unrealized Gain/ (Loss) | 24,607,381 | 23,424,245 |
| Unrealized Gain/ (Loss) - Investments | (478,897) | (480,386) |
| NET POSITION | $24,128,484 | $22,943,859 |
Gross Income
June 2025 - June 2026
The first chart, titled “Gross Income,” shows monthly income figures ranging from approximately $51.9 million in June 2025 to $61.6 million in June 2026.
Operating Expenses
June 2025 - June 2026
The second chart, “Operating Expenses”, presents monthly expenses from around $21.8 million in June 2025, and decreasing to $17.7 million in June 2026.
Insurance Loss Expense (Reduction)
June 2025 - June 2026
The third chart, “Insurance Loss Expense (Reduction)” tracks losses from June 2025 to June 2026. Key quarterly losses include $11.8 million in June 2025, $1.5 million in August 2025, a loss reduction of $14.1 million in December 2025, $9.3 million in March 2026, and $98.3 million loss in June 2026. Additional losses occurred in September 2025 ($0.6 million) and October 2025 ($0.1 million), and May 2026 ($0.2 million) while other months recorded no losses.
INVESTMENT PORTFOLIO ACTIVITY
June 30, 2026
| I. INVESTMENT PORTFOLIO BALANCE AND MARKET VALUE (In Dollars) | Book Value | Market Value | Unrealized Gain or (Loss) | % Market to Book Value | Weighted Average Yield |
|---|---|---|---|---|---|
| Daily Treasury Account | $2,493,019,000 | $2,493,019,000 | $- | 100.00% | 3.69% |
| U.S. Treasury Notes | 22,200,590,463 | 21,721,693,715 | (478,896,748) | 97.84% | 2.97% |
| Total | $24,693,609,463 | $24,214,712,715 | $(478,896,748) | 98.06% | 3.04% |
| II. INVESTMENT PORTFOLIO SUMMARY | Last Month | Current Month | CY To Date |
|---|---|---|---|
| Investment Yield | 3.04% | 3.04% | 2.92% |
| Investment Income | $62,257,849 | $61,594,052 | $351,245,947 |
| Weighted Avg. Maturity in Days / (Years) | 1,535 (4.20) | 1,507 (4.13) | - |
III. MONTHLY ACTIVITY FOR T-NOTES
| Purchased | Amount | Maturity | Yield |
|---|---|---|---|
| - | - | - | - |
| Maturity | Amount | Purchased | Yield |
|---|---|---|---|
| - | - | - | - |
IV. MATURITY SCHEDULE (par value in millions)
TOTAL PAR VALUE - $ 25,293
TOTAL UNREALIZED GAIN/(LOSS) - $ (479)
The upper chart is titled “Maturity Investment Balance (Millions)” and depicts investment balances across different time frames: Overnight, 1m-6m, 6m-yr, 1yr-2yrs, 2yrs-3yr, 3yr-4yr, 4yr-5yr, 5yr-6yr, 6yr-7yr, 7yr-8yr and 8yr-9yr. The largest balance is in the “Overnight” category at $2,493 million, with other categories showing balances ranging from $1,400 million to $2,800 million.
The lower chart, titled “Unrealized Gain/(Loss) (Millions)”, corresponds to the same time frame as the upper chart. It shows values ranging from ($144) million to $15 million. The most significant unrealized loss is in the “2yr-3yr” time frame at ($144) million, and there is no unrealized gain or loss for the “Overnight” category.
The balances in the statement above are preliminary and unaudited.
The information provided in the portfolio summary above is preliminary and unaudited.