NCUA Draft Budget Projects $298.2M in Spending for 2018

FOR IMMEDIATE RELEASE

The National Credit Union Administration (NCUA) today released its discussion draft budgets for 2018 and 2019, which project $298.2 million and $302.8 million in spending, respectively. The National Association of Federally-Insured Credit Unions (NAFCU) is reviewing the documents, which are online and accessible to the public now.

“NAFCU and our members appreciate NCUA Chairman J. Mark McWatters and NCUA Board Member Rick Metsger's leadership and continued commitment to greater transparency regarding the budget process,” said NAFCU President and CEO Dan Berger. “We will review the budget in detail, and look forward to relaying feedback during the Oct. 18 briefing.”

The agency had said its budget plans would be released this week so stakeholders could review them before the budget briefing, which is set for 2 p.m. to 4 p.m. Eastern Oct. 18.

The NCUA started NAFCU-requested public budget briefings last year. NAFCU President and CEO Dan Berger spoke during last year's briefing and noted concerns over the agency's ever-increasing budget and how the NCUA should be looking to find cost savings wherever possible.

The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.

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Jacqueline Ramsay
jramsay@nafcu.org