Submitting OIG:
Report Description:
The National Credit Union Administration Office of Inspector General contracted with Moss Adams LLP to conduct a Material Loss Review of six federally insured credit unions (Chester Upland School Employees, O P S EMP, Electrical Inspectors, Triangle Interests % Service Center, Cardozo Lodge, and Servco Federal Credit Unions). We reviewed the credit unions to: (1) determine the cause(s) of the credit unions’ failures and the resulting estimated $3.2 million loss to the National Credit Union Share Insurance Fund; (2) assess NCUA’s supervision of the credit unions; and (3) provide appropriate suggestions and/or recommendations to prevent future losses.
Short / Alternative Report Title:
Material Loss Review of Six Philadelphia, PA Area Federal Credit Unions
Date Issued:
Thursday, February 23, 2017
Agency Reviewed / Investigated:
Submitting OIG-Specific Report Number:
OIG-17-05
Location(s):
Agency-Wide
Type of Report:
Audit
Questioned Costs:
$0
Funds for Better Use:
$0
Number of Recommendations:
2
View Document:
Attachment | Size |
---|---|
ncua-oig1705_material-loss-review.pdf | 870.46 KB |
Additional Details Link: