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NCUA Releases 2018–2019 Budget Proposal

Sun, Oct 8, 2017

he National Credit Union Administration’s 2018–2019 budget proposal is now available online, and the agency is accepting comments as well as requests to present at its Oct. 18 budget briefing.

The detailed budget proposal that will be discussed at the budget briefing is available on the agency’s budget resource center.

“It remains imperative that we provide a transparent budget process in a fully accountable manner that is beneficial to credit unions and the agency,” NCUA Board Chairman J. Mark McWatters said. “The 2018-2019 budget proposal is another step in our broader effort to re-align our resources with the mission of the agency to meet the needs of an evolving credit union system in a cost-effective manner while continuing to protect the safety and soundness of the system and the Share Insurance Fund. We hope credit union stakeholders will study the proposed budget carefully and provide us with thoughtful, specific suggestions on where we can make improvements. While final decisions always remain with the Board, stakeholders can and should contribute their ideas for our consideration.”

The current proposed 2018 operating budget is $298.2 million and includes a net workforce decrease of 42 full-time equivalents.

In the last year, the NCUA has taken significant steps to become more efficient. The agency in July announced its restructuring plan that includes closing 40 percent of its regional offices, eliminating overlapping office functions, and re-tooling its business model. Last November, the Board adopted a 2017 budget incorporating recommendations from the Exam Flexibility Initiative that included cost-saving measures such as an extended examination cycle and a smaller agency footprint in credit unions.

The NCUA will accept written comments on the proposed 2018-2019 budget by email at BudgetComments@ncua.gov until 5 p.m. Friday, Oct. 27. Comments should provide specific, actionable recommendations rather than general remarks about the size or structure of the budget.

If you wish to attend the briefing and deliver a statement, you must email a request to BudgetBriefing@ncua.gov before noon Eastern on Wednesday, Oct. 11. Your request must include your name, title, affiliation, mailing address, email address, and telephone number. The NCUA will work to accommodate as many public statements as possible at the Oct. 18 budget briefing. The Board Secretary will inform you if you have been approved to make a presentation and how much time you will be allotted. A written copy of your presentation must be delivered to the Board Secretary no later than noon Eastern on Oct. 17.

The Oct. 18 budget briefing will be held in the NCUA Board meeting room beginning at 2 p.m. Eastern and run for approximately two hours. A livestream of the briefing also will be available through a link on ncua.gov.

Due to space considerations, the NCUA will be able to accommodate a limited number of people in the Board room, but an overflow room will be available with a livestream from the briefing. If you wish to attend the briefing and you are not making a presentation, you will be admitted on a first-come, first-served basis beginning at 1 p.m. Eastern on the day of the briefing.