Each March, the NCUA releases its Annual Report, summarizing the agency’s performance in meeting its strategic goals and objectives. As usual, this year’s report makes for an interesting read, particularly given the industry’s recent volatility.At the outset, the NCUA should be commended for putting together such a comprehensive, accessible, and intelligent presentation. Last year’s Annual Report won the prestigious Certificate of Excellence in Accounting Reporting award from the Association of Government Accountants. It would not be a surprise if this year’s presentation is a repeat winner. The document is laid out smartly and packed with information.Overall, the NCUA’s focus in 2022 concerned five broad categories:· Responding to evolving economic and financial challenges;· Strengthening the credit union system’s capital levels;· Increasing cyber resiliency;· Supporting small credit unions and minority depository institutions; and· Fostering greater diversity, equity, inclusion and belonging.Join this conversation today as Mike Macchiarola of Olden Lane offers his analysis on the key takeaways from the NCUA Annual Report.
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Each March, the NCUA releases its Annual Report, summarizing the agency’s performance in meeting its strategic goals and objectives. As usual, this year’s report makes for an interesting read, particularly given the industry’s recent volatility.
At the outset, the NCUA should be commended for putting together such a comprehensive, accessible, and intelligent presentation. Last year’s Annual Report won the prestigious Certificate of Excellence in Accounting Reporting award from the Association of Government Accountants. It would not be a surprise if this year’s presentation is a repeat winner. The document is laid out smartly and packed with information.
Overall, the NCUA’s focus in 2022 concerned five broad categories:
· Responding to evolving economic and financial challenges;
· Strengthening the credit union system’s capital levels;
· Increasing cyber resiliency;
· Supporting small credit unions and minority depository institutions; and
· Fostering greater diversity, equity, inclusion and belonging.
Join this conversation today as Mike Macchiarola of Olden Lane offers his analysis on the key takeaways from the NCUA Annual Report.
