The NCUA announced Monday that the Temporary Corporate Credit Union Stabilization Fund received a sixth consecutive clean audit opinion.
"KPMG LLP, the independent firm that audits the Stabilization Fund's financial statements, issued an unmodified audit opinion with no reportable findings," an agency press release said.
According to the NCUA, the stabilization fund had a positive net position for the first time, going from negative $142.2 million in 2013 to positive $238.5 million in 2014. During 2014, the fund's financial condition maintained adequate available liquidity to meet its obligations.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
