2014 Treasurer’s Report
I am pleased to be able to present the 2014 Credit Union National Association (CUNA) Treasurer's Report. CUNA continues to strengthen its financial position and is well positioned to lead the credit union system in the always dynamic and challenging regulatory, economic, and political environments in which credit unions serve their members.
Forty-five percent of CUNA's annual revenues come directly from credit union dues. The board and management's priority is to ensure that the effect of each dues dollar is maximized through operational efficiencies, resource prioritization and sound fiscal oversight. I am pleased to report that the results of these efforts allowed CUNA to use 100% of dues revenue on advocacy and related functions on your behalf in 2014.
2014 financial highlights include:
- Operating revenues totaled $58.6 million in 2014, an increase of 3.3% over 2013 results
- Operating expenses increased just 2.3% in 2014, totaling $56.9 million
- The resulting operating margin of $1.7 million was higher than both 2014 budget and the 2013 actual results
- Total net assets of $21.0 million as of the end of 2014
Past Reports: 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004