The National Credit Union Administration (NCUA) has announced that its four funds have received unmodified, or "clean," audit opinions for the year 2024. This information was released by the agency's Office of Inspector General through audited financial statements.
These audits, conducted by KPMG LLP, cover several key areas: 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 is notable for holding assets worth $22.3 billion as of December 31, 2024. It plays a crucial role in safeguarding deposits for over 142 million members across more than 4,400 federally insured credit unions.
The NCUA serves as an independent federal agency established by Congress to oversee federal credit unions. It manages the National Credit Union Share Insurance Fund with support from the U.S. government and insures deposits for over 135 million account holders in both federal and most state-chartered credit unions. Additionally, it focuses on consumer protection and financial literacy education.
For further information or media inquiries, Joe Adamoli can be contacted at JAdamoli@ncua.gov or via phone at 703-518-6572.