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Washington
Four funds get clean audits NCUA
ALEXANDRIA, Va. (2/17/12)--The National Credit Union Administration (NCUA) has received "clean" audit opinions for its National Credit Union Share Insurance Fund (NCUSIF), Central Liquidity Facility, Community Development Revolving Loan Fund, and Operating Fund.

KPMG LLP completed the audits of the 2011 financial statements of all four funds.

NCUA Chairman Debbie Matz said the agency "takes its stewardship responsibilities very seriously" and works diligently to protect the NCUSIF and the other funds.

KPMG will issue its opinion on the Temporary Corporate Credit Union Stabilization Fund's 2011 financial statements in the coming months, the NCUA said.

The stabilization fund was created by the U.S. Congress in 2009 to provide flexibility to the NCUA as it worked to manage the impact of the costs to consumer credit unions associated with the troubled mortgage-backed securities purchased by the five failed corporate credit unions.

The stabilization fund received a clean--or unqualified--audit for 2010.

For the full KPMG audit opinions, use the resource link.
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