CUNA supports NCUA’s budget process, raises some concerns

NCUA headquarters

While CUNA supports aspects of NCUA’s proposed budget, particularly the transparency of the process, CUNA did raise several concerns in its comment letter submitted to the agency Monday. CUNA’s letter follows its presentation at NCUA’s Nov. 20 budget briefing.

“We commend the agency for continuing to provide comprehensive budget information as well as rationalization of the budget and agency expenditures in the context of a well-communicated strategic plan,” the letter reads. “Providing budget items in advance, holding an open briefing where stakeholders are invited to comment, and soliciting written comment is good public policy and reflects the agency’s commitment to government transparency.”

Specifically, NCUA’s proposed budget includes a 3.9% increase, which CUNA believes “compares favorably to increases in both headline inflation and credit union operating expenses.”

 

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