Newsroom

Citing a goal of further enhancing its budget and operations transparency, NCUA on Tuesday posted the individual office budgets of each of its board members online, a move welcomed by NAFCU as it continues to push the agency toward even greater transparency.

NCUA also said as part of its 2015 budget process, it has published more information on its website regarding the 2015 operating budget and the 2015 corporate stabilization fund budget.

Upon the agency board's approval of the 2015 budget for the Temporary Corporate Credit Union Stabilization Fund in December, NAFCU thanked NCUA Board Member J. Mark McWatters for his efforts to provide increased transparency regarding legal costs being paid out of the fund. However, NAFCU Senior Vice President of Government Affairs and General Counsel Carrie Hunt said the association wants greater transparency regarding the legal costs being paid by credit unions related to the lawsuits associated with the corporate credit union losses.

NAFCU President and CEO Dan Berger has also long pressed the agency to be more transparent regarding its budgeting process. Writing the board members in November, he also reiterated objections to NCUA's practice of the past five years of releasing and approving its annual budget without a formal hearing.

In Tuesday's statement, NCUA said information about the board members' office budgets is available on each of their own webpages and on NCUA's 2015 budget and supplementary materials landing page.