ALEXANDRIA, Va.—The NCUA board will meet today, and most of the attention from credit unions will be on its final plan for its 2023-24 budget.
Also on the agenda is a review the normal operating level (NOL) for the Share Insurance Fund (SIF) for 2023, and propose a rule related to financial innovation.
As CUToday.info has reported, the proposed combined 2023 staff draft budget is $367.0 million, or 8.1% higher than the 2022 budget. The proposed operating budget is $350.8 million, which is 9.6% higher than in 2022.
Meanwhile, at its final board meeting in 2021, the board set the NOL at 1.33% for 2022. The credit union trade groups have been urging the agency to return the NOL to its historic level of 1.3%.
The board in November received a quarterly report on the SIF, which showed the SIF had a total income of $73.7 million with a net income of $26.2 million, representing an increase of $5.2 million in net income from the second quarter, as CUToday.info reported earlier.
The meeting will begin at 10 a.m. ET. A livestream will be available on the agency’s website. CUToday.info will provide complete coverage.
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