Report Reflects on Transformative Year for the Credit Union Industry and Agency
ALEXANDRIA, Va. (May 14, 2013) – The National Credit Union Administration today issued its Annual Report, which highlights the agency’s activities and accomplishments in 2012.
“For federally insured credit unions and NCUA, 2012 was a transformative year,” said NCUA Board Chairman Debbie Matz. “The industry transitioned from the uncertainty caused by a severe recession and benefited from a recovering economy. We are confident that NCUA’s proactive actions in 2012 have created a framework strong enough and flexible enough to ensure that millions of Americans will be able to rely on federally insured credit unions for their financial needs for many years to come.”
NCUA’s 2012 initiatives and accomplishments are grouped into five categories that include:
- Ensuring a safe and sound credit union system;
- Modernizing regulations;
- Continuing corporate resolution efforts;
- Engaging, assisting and coordinating with stakeholders; and
- Positioning NCUA for the future.
In addition, NCUA’s Annual Report provides an assessment of the agency’s performance in meeting its strategic goals. It contains the audited financial statements for each of NCUA’s four permanent funds, as well as historical industry and National Credit Union Share Insurance Fund data and statistics.
To view the 2012 Annual Report, visit http://go.usa.gov/TFkm.
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, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of more than
99 million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.