ARLINGTON, Va.—NAFCU President and CEO Dan Berger thanked NCUA Board Chairman Rick Metsger for announcing that details of its 2017-2018 budget plans would be released for public comment and urged the board to continue to act with transparency and increased efficiency in its budget process.
Berger asked that credit union stakeholders have at least 60 days to review the budget before the briefing.
“We appreciated and welcomed the announcement by Chairman Metsger during NAFCU’s 2016 Annual Conference that the agency would release the details of its 2017-2018 budget plans and subsequently hold a public budget briefing in October 2016,” Berger wrote in a letter to Metsger and Board Member Mark McWatters.
He also thanked them for the chance credit union stakeholders will have to comment during the October briefing. “This move by the agency promises to introduce a level of budget transparency the industry has not seen in years,” he wrote.
“NAFCU encourages NCUA to look carefully at what works within the agency and find cost savings wherever possible to mitigate costs for credit unions,” Berger added. “We hope the agency uses the mid-year budget review as an opportunity to promote the responsible administration of credit union dollars, increase spending efficiencies, and reduce line item budgets where possible.”