Feb. 20, 2013 – NCUA has received clean audit opinions on all four of its permanent funds and says it expects to see a report on the Temporary Corporate Credit Union Stabilization Fund in the coming months.
“We are pleased that NCUA has received clean audits for the four funds,” said NAFCU President and CEO Fred Becker. “We continue to push for transparency in regards to the methodology as to NCUA’s reserving and look to the speedy release of the stabilization fund audit.”
The four reports released Tuesday are on the National Credit Union Share Insurance Fund, agency operating fund, the Community Development Revolving Loan Fund and Central Liquidity Facility. The NCUSIF audit report points to a continuing need to refine the agency’s methodology for determining loss projections. NAFCU continues to urge the agency to manage its reserves as close to expected losses as possible.