The NCUA announced that its four permanent funds received clean audit opinions for 2014, according to audited financial reports released by agency's Inspector General.
As of Dec. 31, 2014, the NCUA said the Share Insurance Fund had more than $11.9 billion in total assets. According to the agency, the fund protects individual deposits up to $250,000 for more than 98 million consumers at 6,350 federally insured credit unions.
KPMG LLP completed the audits of all four permanent funds, including the National Credit Union Share Insurance Fund, the Operating Fund, the Community Development Revolving Loan Fund and the Central Liquidity Facility.
The NCUA said KPMG plans to issue an opinion on the 2014 financial statements for the Temporary Corporate Credit Union Stabilization Fund next month. The Stabilization Fund earned a clean audit opinion for 2013.
"Again this year, our independent auditors have given our permanent funds clean opinions, reflecting the prudent management NCUA exercises," NCUA Board Chairman Debbie Matz said. "The complete financial reports are made public as part of our ongoing commitment to provide transparency to credit unions and their members about NCUA's operations."
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