CCUL Headlines: Regulatory

NCUA 5-year plan, 2018-19 budget have positive potential, add Region III to Austin Regional Office

Thursday, October 12, 2017   (0 Comments)
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Budget comments invited by email no later than 5 p.m. Friday, October 27.

Alexandria, VA--The National Credit Union Administration (NCUA) this week posted its proposed 2018-22 strategic plan and 2018-19 budget, which include incorporation of Region III with the Region IV office based in Austin, TX by December 31, 2018. The plan and budget are expected for NCUA Board review and approval at its Thursday, November 16 meeting.

The proposed budget of $298.2 million reduces costs including its workforce, which would drop an equivalent of forty-two (42) full-time staff. The NCUA invites "specific, actionable recommendations" from credit unions via email to BudgetComments@ncua.gov until 5 p.m. Friday, October 27. A public budget briefing is set for 2 p.m. Wednesday, October 18.

Credit unions in the Carolinas, which have been served by the Region III office in Atlanta, should see little change in day-to-day and examination functions, according to League Vice President Regulatory/Compliance Counsel Jeanne Couchois.

"NCUA examiners will report through someone in Atlanta, who in turn will report to the Austin office," Couchois noted. "Overall, we see positive potential in the NCUA's plans to reduce costs, modernize regulations, and specialize examiners."

Couchois anticipates submitting a League comment letter reflective of those sentiments.

Visit ncua.gov for more on NCUA strategic plans and budgets.

 


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