Berger to NCUA: Keep 2014 budget low
NAFCU President and CEO Dan Berger on Friday urged NCUA Chairman Debbie Matz to employ cost-saving measures to keep the agency’s 2014 budget at or below 2013 levels.
“Between 2009 and 2012, through mergers and liquidations, approximately 987 credit unions have ceased doing business,” Berger said in a letter sent Friday. “That is about 275 each year. Unfortunately, 2013 is on track to see the same number of credit unions disappear. With the number of credit unions the agency needs to oversee shrinking, NAFCU would like to see the budgeting for the year correspond.”
Berger discussed the toll of the economic crisis on credit unions, and suggested the agency look to credit unions themselves as an example of being “vigilant in keeping every possible cost down.” As NCUA receives its funding from federally insured credit unions and their members, Berger wrote, it is incumbent on the agency to be a faithful steward of the funds.
In particular, Berger praised the cost-saving efforts of NCUA’s 2014 regional realignment, which he said would save the agency more than $900,000 per year in reduced travel costs and increased efficiency.continue reading »