Newsroom

October 15, 2016

NCUA draft budget projects $299M in spending for 2017

NCUA today released its discussion draft budgets for 2017 and 2018, which project $299.2 million and $313.1 million in spending, respectively. NAFCU is reviewing the documents, which are online and accessible to the public now.

"NAFCU and our members appreciate NCUA Board Chairman Rick Metsger and NCUA Board Member J. Mark McWatters' leadership and commitment to greater transparency regarding the budget process," said NAFCU President and CEO Dan Berger. "We look forward to reviewing the budget in detail, and relaying our substantive feedback, as well as our members', during the Oct. 27 briefing. As NAFCU has repeatedly urged, we will continue to ask the agency to implement spending efficiencies and reduce line items, where possible."

The agency had said its budget plans would be released this week so stakeholders could review them before the budget briefing set for Oct. 27, from 2 to 4 p.m. Eastern. The NCUA Board will also hold its open meeting that morning.

NCUA Board Chairman Rick Metsger first announced at NAFCU's Annual Conference in June that the agency would hold a public budget briefing in October. The association has long urged a return to public briefings held in advance of final budget approval.

During the mid-session budget review in July, NCUA projected $2.7 million in reduced spending for 2016.