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NCUA Permanent Funds Earn Clean Audit Opinions for 2013
Wednesday, February 19, 2014 6:40 AM

The National Credit Union Administration’s four permanent funds have received unmodified, or “clean,” audit opinions for 2013, according to audited financial reports released yesterday by the agency.

The audited financial reports by the independent auditor KPMG LLP cover the National Credit Union Share Insurance Fund as well as the Operating Fund, the Central Liquidity Facility and the Community Development Revolving Loan Fund.

With $11.6 billion in total assets as of Dec. 31, 2013, the Share Insurance Fund protects individual deposits up to $250,000 for nearly 96 million consumers at 6,550 federally insured credit unions.

“The clean opinions from our independent auditors after their audits of the financial statements for the four permanent funds again demonstrate the diligence with which these funds are managed,” NCUA Board Chairman Debbie Matz said. “By making the complete financial reports public, we are living up to our commitments to provide transparency to credit unions and their members.”

KPMG LLP completed the audits of all four permanent funds. KPMG expects to issue an opinion on the 2013 financial statements for the Temporary Corporate Credit Union Stabilization Fund in March. The Stabilization Fund earned a clean audit opinion for 2012.

The complete financial reports are available online here.