Thu, Oct 19, 2017
A four-person panel testified at Wednesday’s NCUA budget briefing. Presenters included Money One FCU President/CEO Beverly Zook, as well as a representatives from CUNA, CCUA and NASCUS. Zook called for a focus on efficiency. CUNA Vice President of Research and Policy Analysis Mike 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. 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.