Press

NCUA releases 2013 annual report

ALEXANDRIA, VA (May 12, 2014) — The National Credit Union Administration today released its 2013 Annual Report that highlights the agency’s activities, policy initiatives and accomplishments for the year. Click here for the full report.

“In 2013, America’s credit unions turned a corner,” NCUA Board Chairman Debbie Matz said. “A strengthening economy led to increased loan demand and fewer delinquencies, helping federally insured credit unions, as a whole, experience one of the best years on record.”

During 2013, NCUA took significant steps to adapt the agency to an ever-changing financial services industry. The agency focused on protecting the National Credit Union Share Insurance Fund and modernizing regulations while at the same time reducing the regulatory burden for smaller credit unions and expanding access to affordable financial services for millions of Americans.

NCUA’s 2013 initiatives and accomplishments can be grouped into six broad categories. Specifically, the agency sought to:

Implement an effective supervision program to ensure the continued safety and soundness of federally insured credit unions.
Adopt safe, targeted and flexible regulations to protect the credit union system and maintain a strong and independent National Credit Union Share Insurance Fund.
Modernize the agency’s operations.
Minimize assessments for the Temporary Corporate Credit Union Stabilization Fund.
Engage and provide assistance to key stakeholders.
Serve as a responsible steward of the public’s trust.

The 2013 Annual Report also assesses the agency’s performance in meeting its strategic and priority goals. The report additionally contains the audited financial statements of each of NCUA’s four permanent funds, as well as historical data and statistics.

“While there are many challenges ahead, including interest rate risk and cybersecurity,” Matz said, “I’m confident that NCUA will be able to meet these challenges head on and ensure that millions of Americans can continue to safely utilize our nation’s cooperative credit system now and well into the future.”

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 more than 96 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. AtMyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues..