FOR IMMEDIATE RELEASE
Contact: Vicki Christner – CUNA Communications; 202-329-9950; firstname.lastname@example.org
Washington, DC (October 14, 2016) – Ryan Donovan, CUNA chief advocacy officer, released the following statement regarding the National Credit Union Administration’s draft budget for 2017-2018:
"As promised by Chair Rick Metsger, the NCUA just unveiled its proposed budget for 2017-2018 to give credit union stakeholders a chance to review it before the agency holds its first budget briefing since 2008. Unfortunately the proposed 2017 budget reflects 2.8% increase, or $8.2 million, from the 2016 Board Approved Budget with an estimate for 2018 of $313.1 million. We are disappointed that NCUA’s budget continues to increase.
"While we appreciate seeing some of the materials in advance, we hope there is more to come so that the public can fully evaluate how credit union fees are being spent. CUNA and our state credit union league partners have long advocated to bring back transparency to the budget process.”
"CUNA is reviewing the budget proposal and will have detailed comments, and will attend the Oct. 27 public briefing."
With its network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves America's credit unions, which are owned by more than 100 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. For more information about CUNA, visit www.cuna.org or follow @CUNA on Twitter. For more information about credit unions, visit www.aSmarterChoice.org and follow @asmarterchoice on Twitter.