The National Credit Union Administration (NCUA) released its 2024 Annual Report summarizing the agency’s activities and performance against its strategic goals, and reporting that the Share Insurance Fund and the credit union system remained well-capitalized with sufficient liquidity during the year. The report includes audited financial statements for the agency’s four funds, each receiving an unmodified (“clean”) audit opinion for 2024, and provides assurances of compliance with federal financial management guidelines, regulations, and relevant laws. It also sets out Chairman Kyle S. Hauptman’s priorities, including streamlining the NCUA’s budget, clarifying and improving the efficiency of the examination program, and developing a regulatory scheme that is easier for current and future credit unions to navigate, alongside efforts to reduce, streamline, or eliminate outdated or overly burdensome regulations and processes where possible.
National Credit Union Administration 2025-03-18
National Credit Union Administration publishes 2024 Annual Report and outlines priorities to streamline budget, examinations and regulations
The National Credit Union Administration (NCUA) released its 2024 Annual Report, confirming the Share Insurance Fund and credit union system's strong capitalization and liquidity. The report includes clean audit opinions for the agency’s four funds and outlines Chairman Kyle S. Hauptman’s priorities to streamline the budget, enhance examination efficiency, and simplify regulatory frameworks. Efforts to reduce outdated regulations are also highlighted.