NAFCU Presses NCUA For Greater Budgetary Restraint, Lower Assessments

WASHINGTON, DC (July 25, 2013) — National Association of Federal Credit Unions (NAFCU) President and CEO Fred R. Becker Jr. today made the following statement regarding the National Credit Union Administration’s (NCUA) action on its 2013 budget and the stabilization assessments for the Temporary Corporate Credit Union Stabilization Fund (TCCUSF).

“While NAFCU appreciates NCUA reducing its 2013 budget, it doesn’t go far enough.The agency can and should do more to lower its operating expenses. Even after this reduction, 2013 expenses will be higher than the agency’s actual expenses in 2008, even though it is regulating nearly 1,000 fewer credit unions. NCUA must look to achieve greater efficiencies, provide greater transparency in the budgeting process and resume public budget hearings in advance of the board’s approval of the final budget. NAFCU remains steadfast in our efforts to press the agency to find opportunities to decrease expenses, which are shouldered by credit unions.”

“Regarding the TCCUSF, NAFCU has consistently urged NCUA to keep assessments on credit unions as low as possible.Though today’s assessment is on the lower end of the estimated range, NCUA must leave no stone unturned to find ways to minimize assessments and to consider the full impact of the assessments on credit unions.”

About Us
The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.

More News