ALEXANDRIA, Va.—NCUA has released its 2021 Annual Report, which it said is designed to highlight the agency’s activities, policy initiatives, and accomplishments for the past year.
“In 2021, the NCUA worked to ensure credit union members were protected and the credit union system and the National Credit Union Share Insurance Fund were prepared to weather any economic fallout related to the pandemic,” Chairman Todd M. Harper said. “Despite the year’s many challenges, the credit union system, as a whole, continued to perform well, remaining well capitalized with sufficient levels of liquidity. This is a testament to the strength of the credit union system going into the pandemic and the skillful management of credit union CEOs, boards of directors, and NCUA employees over the last two years.”
The 2021 Focus
According to the agency, during 2021 it focused on addressing the economic and financial disruptions resulting from the pandemic by:
- Protecting the health and safety of NCUA employees and contractors so the agency could continue to perform its mission
- Assessing the impact of COVID-19 on credit union members and operations
- Analyzing how the pandemic will affect the future financial condition of credit unions and the Share Insurance Fund
In 2021, the NCUA board finalized several rulemakings to strengthen the credit union system and safeguard consumers, and the agency implemented new systems to support its examination program in the future. NCUA said in the report it also protected credit union members during the year, fostered greater diversity, equity, inclusion, and belonging in the NCUA and the credit union system, and advanced economic equity and justice by expanding access to safe, fair, and affordable financial products and services.
‘Best Interests of Members’
“As we continue to smartly and safely navigate through the pandemic and plan for the future, the NCUA will stay focused on addressing the needs and best interests of credit union members while also ensuring the safety and soundness of credit unions and protecting the Share Insurance Fund from losses,” Harper said. “By staying focused on these issues, the agency will ensure that the cooperative credit union movement achieves its full potential and addresses the long-standing issues of economic equity and justice.”
According to NCUA, the 2021 Annual Report documents its performance in meeting its strategic goals and objectives as detailed in its strategic plan, and annual performance plan. The report contains the audited financial statements for the agency’s four funds, which earned unmodified or “clean” opinions for 2021. It also provides assurances of the agency’s compliance with federal financial management guidelines, regulations, and relevant laws, NCUA stated.
Don’t Forget to Check the Spam Folder!
Don’t forget to check your Spam/Junk email folder if you didn’t receive your free, popular and daily CUToday.info news headlines on Monday.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com