National Credit Union Administration, 2007 Annual Report

摘要

The National Credit Union Administration (NCUA) is the independent federal agency that charters and supervises federal credit unions throughout the United States and its territories. With the backing of the full faith and credit of the U.S. government, NCUA administers the National Credit Union Share Insurance Fund (NCUSIF), which insures the savings of nearly 87 million account holders in all federal credit unions and the substantial majority of state-chartered credit unions. NCUA is supported by the credit unions it supervises and insures through fees submitted to the NCUA Operating Fund and NCUSIF. NCUA also administers the Central Liquidity Facility (CLF) and the Community Development Revolving Loan Fund (CDRLF). The CLF serves as a back-up lender for member credit unions, while the CDRLF provides loans and technical assistance grants to stimulate economic activities in communities served by low-income credit unions. The 2007 NCUA Annual Report is NCUA's official report to the President and the Congress of the United States. The report contains the financial statements of the NCUA Operating Fund, NCUSIF, CDRLF and CLF. 2007 saw NCUA continue to achieve its mission of providing a safe, sound system of federal credit unions by adopting policies and procedures to reduce regulatory burden, address statutory requirements, respond to evolution within the credit union and financial industry, and meet economic needs. Credit unions continue to demonstrate strength and stability in turbulent financial markets. Industry-wide net worth stands at a strong 11.4 percent and membership grew by 1.3 percent. Today, federally insured credit unions serve nearly 87 million members. Savings expanded a healthy 5.6 percent and first mortgage loans grew 12.3 percent, suggesting that credit unions are fulfilling their mission to provide fairly-priced financial services by stepping in to meet real estate loan needs during a tumultuous time in the mortgage lending market.