WASHINGTON (11/10/14)--Since December 2009 the National Credit Union Administration's budget has expanded by 51%, a trend the Credit Union National Association would like to see end in 2015.
In a letter sent to the NCUA Friday regarding the agency's 2015 budget, CUNA President/CEO Jim Nussle urged the agency to "refrain from raising the 2015 budget and to look for additional ways to streamline its operations."
CUNA submitted letters to NCUA Chair Debbie Matz, as well as board members Rick Metsger and J. Mark McWatters.
"We note that the Board has taken steps to improve the flow of information about its budget, and we commend the agency for creating a separate budget web page and maintaining budget-related information and documents on the site," the letter reads. "Nonetheless, serious questions and concerns remain as to why the agency's budget continues to expand, especially in light of credit unions' increasingly strong financial health and their efforts, often at the direction of examiners, to contain costs."
In addition to the general request for the NCUA to refrain from raising its budget, CUNA raised a few other specific concerns about the agency's budget and budget processes, including:
Nussle concluded the letter by saying CUNA and credit unions would "enthusiastically welcome" any material reduction or slowing in the growth of the agency's budget.