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CUNA Expresses Concern Regarding NCUA's Budget
Wednesday, November 18, 2015 6:45 AM

In advance of this week's NCUA Board meeting, Credit Union National Association sent a letter to Chairman Matz expressing our concerns with the budget and the budget process. CUNA remains concerned that the NCUA budget continues to increase at a time when the credit union system is very healthy. They believe NCUA should be proposing budget reductions to decrease credit unions' financial obligation to the agency. 

CUNA's letter urges NCUA to manage costs to the agency as a result of new regulations using existing resources, reduce staff costs in alignment with the reduction in credit unions subject to NCUA supervision, commit to moving toward an 18-month examination cycle through examination efficiency, coordinate examinations with state regulators, provide credit unions with more information regarding agency contractors, increase overall budget transparency and accountability, and provide more information and seek public comment regarding the Overhead Transfer Rate (OTR).  

We put forward what we believe are reasonable recommendations that will enhance the agency's efficiency as well as ensure credit unions have access to appropriate information about the agency's budget and resource allocations.