NCUA Chairman Todd Harper released a statement Monday afternoon on the safety and soundness of the credit union system.

“The credit union system remains well-capitalized and on a solid footing. The National Credit Union Administration continues to monitor credit union performance through both the examination process and offsite monitoring, and it will continue to do so into the future.

Credit unions have access to a wide range of liquidity sources. The NCUA, along with its Central Liquidity Facility, is able to provide a back-up source of liquidity to member credit unions as needed.

The agency continues to coordinate with the other federal financial institution regulators to ensure the continued resiliency of the American financial services system.

As always, the NCUA is committed to the protection of credit union members and the safety and soundness of the credit union system overall. No one has ever lost a single penny of insured share deposits within the credit union system.”