Jan. 4, 2012 – NCUA has reorganized the information presented over several documents on its 2013 operating budget into a single, five-page questions-and-answers document that addresses reasons for the agency’s recent budget hikes, how the budget compares with industry assets and more.
NCUA’s 2013 budget, 6.1 percent higher than last year’s at $251 million, has been criticized by NAFCU, other trades and individual credit unions for the amount that is designated for staff pay and benefit increases and the fact it is being implemented during this early stage of the industry’s recovery from the financial crisis.
NAFCU wants NCUA to reduce new expenditures to minimize the impact on credit unions, which fund the agency’s operations. It also wants the agency to revive the public hearings that used to be held to ensure stakeholders – credit unions – have an opportunity for input and time to plan.
The Q&A document is included on NCUA’s website in NCUA Budget and Supplementary Materials.