NCUA details 2015 actions in annual report
ALEXANDRIA, Va. (3/16/16)--The National Credit Union Administration (NCUA) highlighted the agency’s activities, policy initiatives and accomplishments in its 2015 annual report, which was released Tuesday. The report also assesses the NCUA’s performance in meeting its strategic and agency priority goals and objectives.
“By nearly every measure, the credit union system and NCUA concluded 2015 in a strong position,” NCUA Chair Debbie Matz said. “During the ‘Year of Regulatory Relief,’ NCUA finalized or proposed 15 modernized regulations to reduce compliance burdens or authorize new powers.”
The report also contains assurances of the agency’s fulfillment of financial management laws and compliance requirements, as well as the complete audited financial statements of each of NCUA’s four permanent funds.
Per the report, the agency grouped its initiatives and accomplishments into 10 broad categories. They are:
- Making 2015 “The Year of Regulatory Relief;”
- Modernizing regulations and programs to ensure continued strength;
- Ensuring the safety and soundness of the credit union system;
- Managing the Corporate Stabilization Fund;
- Helping credit unions of all types and sizes thrive;
- Expanding access to affordable financial services and protecting consumers;
- Enhancing the agency’s transparency and engaging stakeholders;
- Creating a diverse, highly skilled workforce;
- Being a good corporate citizen; and
- Shaping the future of NCUA and the credit union system.
Additionally, the report provides detailed statistics illustrating the performance of federally insured credit unions in 2015 and over the past five years.