The National Credit Union Administration (NCUA) has announced that its four funds have received unmodified, or “clean,” audit opinions for the year 2023. This information was revealed in the audited financial statements released by the agency’s Office of Inspector General.
The financial statements were audited by the independent auditor KPMG LLP and cover the National Credit Union Share Insurance Fund, the agency’s Operating Fund, the Central Liquidity Facility, and the Community Development Revolving Loan Fund. These funds play a crucial role in protecting the deposits and assets of credit union members across the country.
The Share Insurance Fund, which held assets of $21.4 billion as of December 31, 2023, provides protection for the deposits of more than 138 million members at over 4,600 federally insured credit unions.
“The National Credit Union Administration’s four funds have once again received clean audit opinions for 2023,” stated the agency’s Office of Inspector General.
The NCUA is an independent federal agency established by the U.S. Congress to regulate, charter, and supervise federal credit unions. With the support of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, ensuring the deposits of more than 135 million account holders in all federal credit unions and the majority of state-chartered credit unions. Additionally, the NCUA plays a crucial role in consumer protection and financial literacy education.
The NCUA’s commitment to maintaining the integrity and transparency of its financial operations is evident in the clean audit opinions received for the year 2023. This achievement reflects the agency’s dedication to effective financial management and accountability.
The complete 2023 financial statement audits can be accessed on the NCUA’s official website, NCUA.gov, providing the public with an opportunity to review the agency’s financial performance in detail.
For any media inquiries, please contact Joe Adamoli at JAdamoli@ncua.gov or call 703.518.6572.
In conclusion, the National Credit Union Administration’s funds have received clean audit opinions, demonstrating the agency’s commitment to sound financial management and the protection of credit union members’ deposits.
