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NCUA Restructuring Plans; Regional Offices to Consolidate
Monday, July 24, 2017 6:45 AM

The National Credit Union Administration has announced that the agency plans to reorganize its operations. NCUA will consolidate five regional offices into three by closing the Albany, N.Y., and Atlanta, Ga., offices and eliminate four of the agency’s five leased facilities.

"The time has come for the NCUA business model to change," said Board Chairman Mark McWatters. "Positioning the NCUA to meet the changing demands of the credit union system we regulate in a transparent and fully accountable manner while promoting efficiency and effectiveness is essential. Re-evaluating our operations is integral to fulfilling our statutory responsibilities to protect the deposits of the nearly 108 million credit union members while maintaining the safety and soundness of the Share Insurance Fund and the viability of the credit union system."

The agency created internal review teams in late 2016 to rethink the agency's operations, discuss how it can re-tool to do its job better, and make recommendations to the board. Among the approved recommendations in addition to the consolidation of offices are:

  • Create an Office of Credit Union Resources and Expansion by redefining and realigning chartering and field of membership, credit union development, grants and loans, and minority depository institutions programs.
  • Restructure the Office of Examination and Insurance into specialized working groups.
  • Realign the Asset Management and Assistance Center to include changes to the servicing business model and moving to a financial supervisory structure.

NCUA also plans to eliminate agency offices with overlapping functions and improve functions such as examination reporting, records management, and procurement. The proposed plan anticipates a reduction in the agency's workforce by attrition.

Additional details of the agency's plan, including projected cost savings, will be available at the upcoming fall budget briefing. The most recent agency restructuring occurred in 2003.