NAFCU Renews Call for Budget Diligence from NCUA

Washington – The National Association of Federal Credit Unions (NAFCU) today reminded the National Credit Union Administration to be vigilant in managing expenses in its 2013 operating budget, which will be addressed at Thursday’s NCUA Board meeting.

“NCUA should leave no stone unturned to find savings and other tools to decrease the agency’s expenses,” wrote Fred Becker, NAFCU president and CEO, in a letter to NCUA Chairman Debbie Matz. “As we have noted previously and discussed, every dollar saved by NCUA in its operating expenses enables credit unions to better serve their members.  NAFCU strongly objects to any increase in the budget over fiscal year 2013.”

“Further, NAFCU calls on the agency to ensure that assessments for the Temporary Corporate Credit Union Stabilization Fund are as low as possible and that there is no assessment for the National Credit Union Share Insurance Fund in 2013,” said Becker.

This is the fourth consecutive year for which NCUA has released its final budget without a formal hearing, depriving credit unions any opportunity to weigh in before those figures are set. “NAFCU wholeheartedly objects to this continued practice and renews its call on the agency to be transparent in the budget process,” Becker said.

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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.

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