ALEXANDRIA, Va. (11/14/14)--A discussion of the National Credit Union Administration's 2015 operating budget headlined the agenda for the agency's Nov. 20 meeting. The budget discussion will include a look at the 2015 overhead transfer rate and the operating fee scale.
The Credit Union National Association submitted a letter to the agency last week, questioning the annual increase in the budget and urging the agency to refrain from an increase in 2015.
"We'd like the board members to look and see if there's a need to increase the budget every year, especially when the credit union system is doing well," said Mary Dunn, CUNA's deputy general counsel and senior vice president. "The NCUA is the steward of credit unions' funds, and we think it should be looking at ways to reduce costs, particularly when it comes to employee and travel costs."
Among CUNA's concerns listed in the letter are a lack of a process for credit unions to provide input on the budget, a proportionally higher increase in staffing costs at the agency compared with other regulators and an overhead transfer rate of 69.2%, which is an all-time high.
The agenda also includes a quarterly update on the Corporate Stabilization Fund, and a board briefing on the estimated range of premiums for the National Credit Union Share Insurance Fund and the assessment for the Corporate Stabilization Fund.
The meeting is scheduled to begin at 10 a.m. (ET) Nov. 20, with a video recording to be posted several weeks later to the agency's website.