The National Credit Union Administration today released its 2024 Annual Report, highlighting the agency’s activities and accomplishments for the past year.
“In 2024, the Share Insurance Fund and the credit union system remained well-capitalized with sufficient liquidity during the year,” NCUA Chairman Kyle S. Hauptman said. “Looking ahead, the NCUA will continue to work with stakeholders to enhance the credit union system through innovation, transparency, and a regulatory structure that allows credit unions to meet the evolving financial needs of families and businesses across America.”
The 2024 Annual Report documents the NCUA’s 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 2024. It also provides assurances of the agency’s compliance with federal financial management guidelines, regulations, and relevant laws.
Also outlined in the Annual Report, Chairman Hauptman’s priorities include streamlining the NCUA’s budget, clarifying the examination program and making it more efficient, and developing and implementing a regulatory scheme that is easy to navigate for current and future credit unions.
“Looking ahead,” Chairman Hauptman said, “the NCUA will work to reduce, streamline, or eliminate outdated or overly burdensome regulations and processes where possible, so credit unions can stay competitive in the changing environment and provide affordable financial services to their members and communities.”