May 22, 2014

NCUA training conference runs $1.9 million

May 23, 2014 – The cost of NCUA's recent training conference in Jacksonville, Fla., was about $1.9 million, with travel costs making up $672,650 of the total, according to an NCUA statement.

NCUA's conference was held April 28 through May 9 at the Hyatt Regency Jacksonville Riverfront. The total conference cost was $176,133 below its budget, the agency is quoted saying. Lodging for the event cost $522,070, or about $83 per night, according to an article in Credit Union Times.

The report says the cost of this year's "Pathway to the Future" National Training Conference was $512,945 less than the 2012 training conference. There were more than 1,200 participants at the event. The conference on NCUA's examination program focused on prevention, administrative actions and supervisory committee audits. Other conference sessions discussed interest rate risk and liquidity, lending and compliance with new mortgage rules.

"Providing the credit union system with well-prepared and knowledgeable examiners is essential to protecting safety and soundness," NCUA Executive Director Mark Treichel said in a statement. "The kind of professional development that takes place at the National Training Conference makes the examination process operate more efficiently and provides greater consistency."