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NCUA’s Four Permanent Funds Earn Clean Audit Opinions for 2015

February 2016
NCUA’s Four Permanent Funds Earn Clean Audit Opinions for 2015

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

ALEXANDRIA, Va. (Feb. 16, 2016) – The National Credit Union Administration’s four permanent funds have again received unmodified, or “clean,” audit opinions for 2015, according to audited financial reports released today by the Office of the Inspector General.

The audited financial reports, prepared 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.

“Year after year, the results of the independent audit confirm NCUA’s careful management of our permanent funds,” NCUA Board Chairman Debbie Matz said, “and each year the agency makes complete financial reports available as part of our ongoing commitment to transparency. Credit goes to all the staff members who work so hard to ensure the stability of the permanent funds.”

The Share Insurance Fund held more than $12.3 billion in total assets as of Dec. 31, 2015. The Share Insurance Fund protects member deposits up to $250,000 for more than 102 million consumers at more than 6,000 federally insured credit unions.

KPMG LLP completed the audits of all four permanent funds. KPMG expects to issue an opinion on the 2015 financial statements for the Temporary Corporate Credit Union Stabilization Fund in March. The Stabilization Fund earned a clean opinion for its 2014 audit.

The complete financial reports are available online here.

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