The NCUA announced consolidation of regional offices and reorganization of staff Friday as part of Chairman J. Mark McWatters’ reevaluation of agency operations. Changes include consolidation of the 5 regional offices into 3 by closing the Albany, N.Y., and Atlanta, Ga. offices and eliminate four of the agency’s five leased facilities.
“We commend Chairman McWatters for his efforts to modernize agency operations by finding efficiencies and eliminating redundancies,” said CUNA President/CEO Jim Nussle. “We look forward to continuing to actively engage with the Chairman as he continues to drive the agency towards reducing regulatory and examination burdens for credit unions.”
In addition to the consolidations, the agency will:
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.