CUNA recognizes NCUA budget improvements at briefing
CUNA recognizes NCUA has made improvements to its budget process reflected in this year’s proposed budget, CUNA Vice President of Research and Policy Analysis Mike Schenk told the agency during its budget briefing Wednesday. Schenk, along with Cooperative Credit Union Association President/CEO Paul Gentile, who also chairs CUNA’s Examination and Supervision Subcommittee, were among the presenters at NCUA’s briefing on its proposed 2018-2019 budget.
“While we still have critical concerns, our analysis of the Budget Justification and related documents makes it clear that NCUA is headed in the right direction with consolidating operations and greater efficiencies which require fewer staffing resources,” Schenk said. “We have long advocated for and supported NCUA in taking these actions.”
This is the second year in a row NCUA has conducted a briefing, with last year’s being the first since 2008. Schenk and Gentile presented last year as well, along with several members of the Examination and Supervision Subcommittee.
During this year’s presentation, Schenk noted several issues CUNA was especially focused on that NCUA has addressed in a constructive way during this year’s budget process.
- Reigning in the budget and right-sizing overall outlays;
- Reducing staffing levels and controlling compensation costs;
- Reconfiguration of the regions;
- Exam efficiency and innovation;
- Distributions of cost burdens/overhead transfer rate; and
- Reducing Asset Management and Assistance Center-related spending.
The agency will accept written comments on its budget through 5 p.m. (ET) on Oct. 27.
NCUA Chairman J. Mark McWatters said the agency will take the comments into consideration as it prepares its budget, which will likely be voted on during November’s board meeting.