The NCUA will give credit union stakeholders a chance to comment on the agency’s proposed 2017-18 budget in October, Chair Rick Metsger announced Wednesday. During the briefing, CUNA and other stakeholders will have the opportunity to present their views.
“NCUA’s new budget briefing is a big win for credit unions,” said CUNA President/CEO Jim Nussle. “Along with our partners at the state leagues, we’ve been working with the agency to host a forum for stakeholders to weigh in and present their views on the budget. We appreciate Chair Metsger making this important change for which we have long advocated.”
CUNA has questioned in recent years the annual increase in the NCUA’s budget, which included a 4.1% increase from 2015 to 2016. Over the same time period, the Federal Deposit Insurance Corp. cut its budget 4.7%.
Metsger said the budget briefing will be more comprehensive than previous briefings hosted by the NCUA. The October briefing will include additional details on the budget that will be released before the briefing to allow stakeholders to review and analyze it prior to participating.
According to Metsger, while everyone who participates in the briefing will be heard, the board will make the final decision on agency expenditures.
The NCUA approved a two-year budget in November 2015, and will revise and supplement that material before the October briefing. Information on the budget and other supplementary materials is currently available on the NCUA’s website.