ALEXANDRIA, Va.–NCUA has made its proposed 2020–2021 budget available for review and comment.
The proposed 2020 operating budget is $316.2 million and includes an increase of three positions from the authorized 2019 staffing levels. The proposed budget summary and detailed budget justification are available on the Budget and Supplementary Materials pageof NCUA.gov. The agency said it will also publish the proposal in the Federal Register, with the public comment period open until Dec. 2.
NCUA plans to hold a public budget briefing on Nov. 20, beginning at 10 a.m. ET at its Alexandria, Va. headquarters. The briefing will be livestreamed on NCUA.gov. Attendees will be admitted on a first-come, first-served basis beginning at 9 a.m. ET. An overflow room will be available.
‘Careful Stewardship’
“Careful stewardship of the resources credit unions make available to us includes being transparent and accountable,” NCUA Board Chairman Rodney E. Hood said in a statement. “We strive to make credit union stakeholders aware of how and why we allocate those resources and that they are in the service of our mission to provide, through effective, not excessive, regulation, a safe-and-sound system of cooperative credit. Final budget decisions remain with the board, and we want those decisions to be informed by public comments. We hope stakeholders review this information and offer specific suggestions on our proposed budget.”
How to Comment
To provide feedback on the proposed budget, NCUA said comments should be sent to BudgetComments@ncua.govby Dec. 2 and should provide specific, actionable recommendations.
How to Request a Presentation
To request a presentation, NCUA said:
- Requests should be emailed to BudgetBriefing@ncua.govby Nov. 12.
- The email should include the presenter’s name, title, affiliation, mailing address, email address, and telephone number.
- The Board Secretary will notify approved presenters and give them their allotted presentation times.
- A copy of any presentation should be emailed to BudgetBriefing@ncua.govby 5 p.m. ET on Nov. 18.
NCUA said the board is scheduled to approve a final budget at its Dec. 12 open meeting.
NASCUS Shares Concern
“We appreciate the newly constituted NCUA board under Chairman Hood continuing to hold a public budget briefing. We are concerned that the overhead transfer rate is estimated to rise for the first time in three years and look forward to engaging with NCUA to ensure the higher rate will not place an unjustifiable burden on state-chartered credit unions,” stated NASCUS President and CEO Lucy Ito.
NAFCU Response
“NAFCU appreciates the NCUA's commitment to an open and transparent budgeting process," said NAFCU President and CEO Dan Berger. “NAFCU firmly believes that a strong, yet cost-effective budget will ensure efficiencies can be maintained over the long-term. We look forward to reviewing the proposed budget, and we will provide the agency with our thoughtful feedback.”