ALEXANDRIA, Va. (March 20, 2020) – The National Credit Union Administration today released its 2019 Annual Report (opens new window), highlighting the agency’s activities, policy initiatives, and accomplishments for the past year.
“In 2019, the NCUA continued to make strides in several areas with initiatives aimed at reducing regulatory burdens, expanding financial opportunities, and protecting the safety and soundness of a credit union system with more than 120 million member-owners,” said NCUA Chairman Rodney E. Hood. “We remain committed to fulfilling our obligations as a regulator and insurer, by protecting consumers, insuring the deposits of credit union members, and safeguarding the National Credit Union Share Insurance Fund from losses.”
During 2019, the NCUA Board and the agency undertook several important initiatives to create a regulatory framework that is effective without being excessive, and to promote greater financial inclusion. Those actions include:
The 2019 Annual Report documents the NCUA’s performance in meeting its strategic goals and objectives as detailed in its strategic plan (opens new window). The report contains the audited financial statements for the agency’s four funds, which earned unmodified or “clean” opinions for 2019. It also provides assurances of the agency’s compliance with federal financial management guidelines, regulations, and relevant laws, and data on credit union financial performance during the year.
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