Press

NAFCU response to NCUA Chairman Debbie Matz’s announcement to formally seek comments on overhead transfer rate and operating fee methodology

National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement in response to the announcement by National Credit Union Administration (NCUA) Chairman Debbie Matz that NCUA will formally invite credit union stakeholders and the public to comment on the methodologies for calculating both the overhead transfer rate and the federal credit union operating fee.

“NAFCU and our members have long sought greater transparency from the agency on its budgeting processes,” said Berger. “Over the last several weeks, we have seen the agency take several important steps toward greater transparency. Chairman Matz’s announcement that the agency will seek public comment on OTR and the operating fee constitutes another step forward towards transparency. NAFCU and our members look forward to providing our input on these issues, as they are critical mechanisms of the agency’s overall funding and budgeting process.”

The National Association of Federal Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. www.nafcu.org.

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