ALEXANDRIA, Va. (11/20/14)--The National Credit Union Administration's 2015 budget will be the chief topic of discussion at today's board meeting, which will also include an update on the National Credit Union Share Insurance Fund premium range.
The Credit Union National Association has requested the NCUA make every effort to keep the budget from growing, in a letter sent earlier this month. The letter, signed by CUNA President/CEO Jim Nussle, requested the agency "refrain from raising the 2015 budget and to look for additional ways to streamline its operations."
NCUA Chair Debbie Matz responded to Nussle's letter, saying the proposed 2015 budget is "pre-decisional until the board formally acts." She added that once the board votes on the budget, more information will be supplied on the agency's website.
"NCUA's budget formulation process employs zero-based budgeting techniques requiring each NCUA central office director to justify their annual budget requests," Matz wrote. "In addition, we ensure that the total budget aligns with the goals and objectives set forth in the National Credit Union Administration strategic plan, 2014 through 2017."
In addition to the board briefing on the estimated range of premiums for the National Credit Union Share Insurance Fund, there will be a quarterly update on the Corporate Stabilization Fund and the assessment for the Corporate Stabilization Fund.