Supervisory Committee Report

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The Supervisory Committee is responsible for ensuring that the Credit Union’s Board of Directors and management establish practices and procedures to properly safeguard members’ assets. The Committee is also responsible for obtaining the annual financial statement audit from a licensed, independent auditor to ensure that the Credit Union’s financial statements comply with generally accepted accounting principles and fairly represent the financial condition of NASA Federal Credit Union. In fulfilling these responsibilities, the Committee appointed the independent certified public accounting firm of CliftonLarsonAllen LLP, which directly reports to the Committee.

In addition, we held quarterly meetings to, among other things, review internal audit services, internal controls and risk management processes and examinations by regulatory agencies.

We are pleased to report that the annual audit conducted by CliftonLarsonAllen LLP for 2012 was completed successfully, and NASA Federal Credit Union’s financial statements were certified as fairly and appropriately presented, and in accordance with Generally Accepted Accounting Principles, on March 18, 2013. The Supervisory Committee concurs with this assessment.

Karen White
Chairman, Supervisory Committee