Statement from NCUA Chairman Todd M. Harper
ALEXANDRIA, VA (March 14, 2023) — The credit union system remains well-capitalized and on a solid footing. The National Credit Union Administration continues to monitor credit union performance through both the examination process and offsite monitoring, and it will continue to do so into the future.
Credit unions have access to a wide range of liquidity sources. The NCUA, along with its Central Liquidity Facility(opens new window), is able to provide a back-up source of liquidity to member credit unions as needed.
The agency continues to coordinate with the other federal financial institution regulators to ensure the continued resiliency of the American financial services system.
As always, the NCUA is committed to the protection of credit union members and the safety and soundness of the credit union system overall. No one has ever lost a single penny of insured share deposits(opens new window) within the credit union system.
About National Credit Union Administration (NCUA)
The 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 United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.