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NCUA’s Four Permanent Funds Receive Clean Audit Opinions for 2017

February 2018
NCUA’s Four Permanent Funds Receive Clean Audit Opinions for 2017

Reports Cover Share Insurance Fund, Operating Fund, CLF and CDRLF

ALEXANDRIA, Va. (Feb. 15, 2018) – The National Credit Union Administration’s four permanent funds have again earned unmodified, or “clean,” audit opinions for 2017, according to audited financial statements released today by the agency’s Office of the Inspector General.

“Prudent financial management and transparency go hand-in-hand,” NCUA Board Chairman J. Mark McWatters said. “I commend our staff who put in the hard work to oversee these funds, and making the annual audit reports easily accessible to the public reinforces confidence in that management.”

The financial statements, audited by the independent auditor KPMG LLP, cover the National Credit Union Share Insurance Fund, the agency’s Operating Fund, the Central Liquidity Facility, and the Community Development Revolving Loan Fund.

The Share Insurance Fund, which protects the deposits of more than 110 million members at more than 5,600 federally insured credit unions, held more than $16.6 billion in total assets as of Dec. 31, 2017.

The NCUA Board closed the Temporary Corporate Credit Union Stabilization Fund effective Oct. 1, 2017, merging it with the Share Insurance Fund. The final Stabilization Fund audit report was completed on Nov. 15, 2017.

The NCUA’s complete financial report for 2017 is available online here.


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