NCUA Permanent Funds Earn Clean Audit Opinions for 2012
Reports Cover Share Insurance Fund, Operating Fund, CLF and CDRLF
ALEXANDRIA, VA (Feb. 19, 2013) – All four National Credit Union Administration (NCUA) permanent funds have received unqualified, or “clean,” audit opinions for 2012, according to audited financial reports released today by the agency.
The audited financial reports by an independent, outside auditor include the National Credit Union Share Insurance Fund. With $11.8 billion in total assets, the Share Insurance Fund protects deposits up to $250,000 for nearly 94 million consumers at 6,888 federally insured credit unions. The reports also cover the Operating Fund, the Central Liquidity Facility and the Community Development Revolving Loan Fund.
“Diligent stewardship of our funds and public transparency are both top priorities for the agency,” NCUA Board Chairman Debbie Matz said. “Independent auditors have completed the audits of the financial statements for our four permanent funds. Their clean opinions lead me to say with full confidence that we have fully lived up to our commitments to credit unions, credit union members and their communities.”
KPMG LLP completed the audits of all four permanent funds. KPMG expects to issue an opinion on the 2012 financial statements for the Temporary Corporate Credit Union Stabilization Fund in the coming months. The Stabilization Fund earned a clean audit opinion for 2011.
The complete financial reports are available here.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 94 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.