National Credit Union Administration ANNUAL REPORT

2 13

National Credit Union Administration

ANNUAL REPORT

2 13 ANNUAL REPORT

National Credit Union Administration

Office of the Chairman

May 12, 2014

To Members of the Senate Banking and House Financial Services Committees:

On behalf of the National Credit Union Administration (NCUA) and in the spirit of transparency, I am pleased to submit NCUA's 2013 Annual Report for your review.

This report reviews the agency's performance in 2013 and includes the audited financial statements for NCUA's four permanent funds. These funds include the National Credit Union Share Insurance Fund, the NCUA Operating Fund, the Central Liquidity Facility, and the Community Development Revolving Loan Fund.

NCUA works to foster the safety and soundness of federally insured credit unions. We also work to better enable the credit union community's ability to extend credit for productive and provident purposes to all Americans. Further, NCUA vigorously works to protect the Share Insurance Fund from losses.

In its performance, NCUA strives to ensure that credit unions are empowered to make business decisions necessary to serve the diverse needs of their existing members and potential members. NCUA achieves this objective by establishing a regulatory environment that encourages innovation, flexibility, and a continued focus on improving service to existing members and attracting new members.

NCUA developed the agency's 2013 Annual Report in accordance with the requirements of: ? Section 102(d) of the Federal Credit Union Act ? the Chief Financial Officers Act of 1990 ? the Government Performance and Results Act of 1993 ? Provisions of Section 5 (as amended) of the Inspector General Act of 1978

In accordance with the Reports Consolidation Act of 2000, NCUA also assessed the reliability of performance data contained in this report and found no material inadequacies. The data are considered to be complete and reliable.

Sincerely,

Debbie Matz Chairman

1775 Duke Street ? Alexandria, VA 22314-3428 ? 703-518-6300



National Credit Union Administration

2 13 ANNUAL REPORT

National Credit Union Administration

2 13 ANNUAL REPORT

Table of Contents

MESSAGE FROM THE BOARD............................................................................................1

CREDIT UNION PERFORMANCE RESULTS.....................................................................7

OUR WORK, OUR PEOPLE................................................................................................. 11 NCUA in Brief......................................................................................................................12 NCUA Board of Directors....................................................................................................13 NCUA Central Office Leadership....................................................................................... 14 NCUA Regional Offices and AMAC...................................................................................17 NCUA Regional Map...........................................................................................................18

MANAGEMENT DISCUSSION AND ANALYSIS..............................................................19 2013: A Good Year for Credit Unions..................................................................................20 Effective Supervision...........................................................................................................20 Safe, Targeted and Flexible Regulations..............................................................................25 NCUA Modernization..........................................................................................................31 Corporate Resolution on Track.............................................................................................34 Stakeholder Engagement..................................................................................................... 36 A Responsible Steward.........................................................................................................45 Challenges and Opportunities Ahead...................................................................................47

NCUA PERFORMANCE RESULTS.....................................................................................49

FINANCIAL SECTION...........................................................................................................63 Message from NCUA's Chief Financial Officer.................................................................. 64 Overview of NCUA's Permanent Fund Programs................................................................65 National Credit Union Share Insurance Fund......................................................................67 Operating Fund.................................................................................................................. 101 Central Liquidity Facility................................................................................................... 119 Community Development Revolving Loan Fund..............................................................133

STATISTICAL DATA............................................................................................................147 National Credit Union Share Insurance Fund Ten-Year Trends.........................................148 Federal Credit Union Ten-Year Summary..........................................................................150 Federally Insured, State-Chartered Credit Union Ten-Year Summary...............................151 Federal Credit Union Historical Data.................................................................................152

National Credit Union Administration

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