Credit unions question NCUA budget boost
"We see it as cause for concern across the credit union community."
Since the number of credit unions is decreasing, the NCUA’s budget should be decreasing too, some credit unions are arguing.
After all, if the agency has fewer credit unions to supervise, it should cost the agency less to do its job, right?
Not so fast, NCUA officials said. The number of credit unions may be decreasing, but those that are left generally tend to be larger and offer more services.
As a result, it’s more complicated to oversee them and it’s costing the agency more money to do its job.
That’s the debate that is playing out in the credit union community, following the October release of the NCUA’s proposed 2019 and 2020 budget plans. The agency held a public hearing on the budget on Oct. 17 and the document was available for comment until Oct. 24.
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