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The methodologies behind the overhead transfer rate and federal credit union operating fees used to fund NCUA's budget are each out for a 90-day public comment period as result of unanimous action Thursday by the NCUA Board.

NAFCU Executive Vice President and General Counsel Carrie Hunt welcomed the board's action. "NAFCU welcomes an opportunity to provide credit union input on the methodology for the OTR calculation," said Hunt. "We look forward to working with NCUA to ensure that the most efficient and objective methodology is used."

NCUA Chairman Debbie Matz said, "I am certainly open to considering new ideas to simplify or improve both methodologies, as long as the methodologies remain objective, equitable and neutral with respect to charter type. Summaries of the comments, along with the Board's responses to the comments, will be published later this year in the Federal Register."

The OTR is used to transfer funds from the National Credit Union Share Insurance Fund to the agency's operating fund to cover "insurance-related" activities. For 2016, the OTR increased from 71.8 percent to 73.1 percent, which NCUA said was due to an increase in the percentage of insured shares held by federally insured, state-chartered credit unions. The agency's total 2016 budget is set at $290.9 million – up 4.1 percent from the year before.

The NCUA Board also released its 2017-2021 strategic plan for a 60-day comment period. The plan summarizes "internal and external factors" that affect the agency as well as its goals and objectives.

Matz said, "The draft plan provides a detailed description of the agency's goals, the steps we'll take to reach them and the offices responsible for getting us there, which in turn drives the agency's budget process. Releasing the draft strategic plan for public comment is part of NCUA's ongoing commitment to transparency."

Finally, the board also approved a rule changing the reporting structure of the Office of Minority and Women Inclusion. The rule will direct the office to report directly to the NCUA chairman.

The board also held a closed meeting to discuss personnel issues and a supervisory matter.