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Stability Through the Crisis

December 3, 2010, Alexandria, Va. – The National Credit Union Administration today posted its combined 2008-2009 Annual Report, titled Stability Through the Crisis. The report describes the actions NCUA took over the past two years to stabilize the credit union system during the worst financial crisis since the Great Depression.
“Our experience during these years of crisis demonstrated the value of rigorous regulation, diligent oversight, and a robust insurance fund,” reflected NCUA Chairman Debbie Matz. “NCUA’s increased supervision contributed significantly to the credit union system’s ability to withstand the extraordinary economic shocks over the past two years. Working together, our proactive approach reaffirmed public trust in the safety and soundness of credit unions, and positioned the industry to emerge from the crisis in the coming years.”
The Annual Report is NCUA’s official report to the President and Congress about NCUA and credit union operations. The report features messages from the NCUA Board, Executive Director, Chief Financial Officer, and several other NCUA offices. It tabulates 10 years of financial trends for credit unions and the National Credit Union Share Insurance Fund.
The report also carries forward the complete audited financial statements of funds managed by NCUA, which were first posted on June 14. The funds received unqualified audit opinions for both 2008 and 2009.
To view the NCUA Annual Report online, click NCUA 2008-2009 Annual Report. For a free printed version, call the NCUA Distribution Center at 703-518-6414 or fax 703-518-6417.
The National Credit Union Administration charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and
National Credit Union Administration
1775 Duke Street
Alexandria, VA 22314-3428
www.ncua.gov
Media Contact: NCUA Office of Public & Congressional Affairs
Phone: (703) 518-6330
Email: pacamail@ncua.gov
manages the National Credit Union Share Insurance Fund, insuring the accounts of more than 90 million account holders in all federal credit unions and the majority of state-chartered credit unions. NCUA is funded by credit unions, not federal tax dollars.

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