On October 27, 2017, President and CEO of Money One Federal Credit Union Beverly Zook appeared during the NCUA’s budget briefing to address spending increases for 2018 and 2019. If approved, the proposed 2018 budget would represent the tenth year in a row that the NCUA has approved a spending increase.
On November 3, 2017, NAFCU submitted comments to the NCUA affirming Zook’s oral comments delivered during the budget briefing and expressing concern over the sustained increases to the budget. Every dollar spent by the agency begins as a dollar from a credit union and all NCUA expenditures have a direct impact on the daily operations of each credit union, no matter how large or small. Rampant increases in the operating budget not only take away from the viability of individual credit unions, but also will affect individual credit union members as well.