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2015 Report Details Accomplishments in the “Year of Regulatory Relief”

ALEXANDRIA, Va. (March 15, 2015) – The National Credit Union Administration released today its 2015 Annual Report. Found online here (opens new window), the report highlights the agency’s activities, policy initiatives and accomplishments for the year.

“By nearly every measure, the credit union system and NCUA concluded 2015 in a strong position,” NCUA Board Chairman Debbie Matz said. “During the ‘Year of Regulatory Relief,’ NCUA finalized or proposed 15 modernized regulations to reduce compliance burdens or authorize new powers. Touching on key stakeholders’ concerns, these initiatives removed outdated procedures and non-statutory requirements. They also gave credit unions greater flexibility to make decisions and serve their members’ needs.
“NCUA also continued its multi-year effort to create and maintain a modern regulatory structure that allows credit unions to evolve and grow, as well as address emerging threats and risks to the system, like cyber threats and interest rate risk, among others. Our actions in 2015 helped ensure that our nation’s communities, businesses and consumers will be able to utilize the products and services of federally insured credit unions in 2016 and for years to come.”

For 2015, the agency’s initiatives and accomplishments can be grouped into ten broad categories. Specifically, the agency focused on:

• 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
• Shaping the future of NCUA and the credit union system

The 2015 Annual Report also assesses NCUA’s performance in meeting its strategic and agency priority goals and objectives. The report further 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.

The 2015 Annual Report additionally provides detailed statistics that illustrate the performance of federally insured credit unions in 2015 and over the last five years.