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Information on Proposed 2017–2018 Budget Will Be Available in Advance

NASHVILLE, Tn. (June 15, 2016) – Credit union stakeholders will have an opportunity to offer comments on the National Credit Union Administration’s proposed 2017–2018 budget at a briefing in October, Board Chairman Rick Metsger announced today.

“As part of my commitment to implement Continual Quality Improvement across all aspects of NCUA’s operations, the agency will hold a briefing on the draft budget,” Metsger said. “This budget briefing will be more comprehensive than the briefings previously held by the agency. For example, we will release more details on the proposed budget before the briefing, so stakeholders can review and analyze the information before they participate.”

Metsger made his announcement during remarks to the National Association of Federal Credit Unions’ annual conference here. He said that, even without the briefing, stakeholders can, as always, offer comments about the agency’s budget at any time.

“I meet with people year-round, and I know Board Member McWatters does, too,” Metsger said. “We are always open to suggestions on how to improve operations. People don’t have to wait for a budget briefing if they have concerns or questions.”

Metsger said NCUA already makes a great deal of detailed budget information public, posted on the agency’s Budget and Supplementary Materials webpage. Preliminary information about NCUA’s 2017 budget is already available. At its November 2015 open meeting, the NCUA Board approved a rolling two-year agency budget. The agency will revise and supplement this material before the October budget briefing.

Everyone who participates in the budget briefing will be heard, Metsger said, but the NCUA Board still has the responsibility to make a final decision on expenditures to fulfill its mandate under the Federal Credit Union Act to protect the safety and soundness of the credit union system, the National Credit Union Share Insurance Fund, and the more than $1 trillion of members’ accounts.

Today’s announcement follows NCUA’s recent decision to conduct a comprehensive review of its examination and supervision process. Metsger created a working group to field stakeholder suggestions and report its recommendations to the Board in September.