NCUA approves strategic, performance plans, gives corporate resolution update
The NCUA Board approved its 2022-2026 Strategic Plan and 2022 Annual Performance Plan at its Thursday meeting. It also heard a briefing on the corporate system resolution.
The briefing provided an overview of the resolution effort and noted an expectation that going forward (in March and September annually) the program will continue to make distributions, as cash becomes available, until the program is completed.
The Strategic Plan is designed to summarize an analysis of the internal and external environment impacting NCUA and evaluates programs and risks.
Its goals are to:
- Ensure a safe, sound, and viable system of cooperative credit that protects consumers.
- Improve the financial well-being of individuals and communities through access to affordable and equitable financial products and services.
- Maximize organizational performance to enable mission success.
The final plan includes several minor changes to the draft plan consistent with recommendations CUNA made on the draft plan, including revisions to the narrative describing the long-term risk posed by climate-related financial risk, including the clarification that NCUA does not intend to micromanage credit union lending decisions for climate-related financial risk.
The Annual Performance Plan sets out performance measures and targets in support of the goals in the strategic plan. Its five components are:
- Strategic goals
- Strategic objectives
- Performance goals
- Performance measures and associated targets
- Means and strategies to accomplish the strategic objectives.