The NCUA posted its combined 2008-2009 Annual Report, titled Stability Through the Crisis. The 88-page report describes the actions NCUA took over the past two years to stabilize the credit union system during the worst financial crisis since the Great Depression.
“Our experience during these years of crisis demonstrated the value of rigorous regulation, diligent oversight, and a robust insurance fund,” said NCUA Chairman Debbie Matz. “NCUA’s increased supervision contributed significantly to the creditunion system’s ability to withstand the extraordinary economic shocks over the past two years. Working together, our proactive approach reaffirmed public trust in the safety and soundness of credit unions, and positioned the industry to emerge from the crisis in thecoming years.”
The Annual Report is the NCUA’s official report to the President and Congress about the NCUA and credit union operations. The report features messages from the NCUA board, Executive Director, Chief Financial Officer, and several other NCUA offices. Ten years of financial trends for credit unions and the National Credit Union Share Insurance Fund are highlighted. The report also shows the complete audited financial statements of funds managed by the NCUA. The funds received unqualified audit opinions for 2008 and 2009.
To view the NCUA Annual Report online, click NCUA 2008-2009 Annual Report.