League opposes unnecessary NCUA budget increases

Published by: Sean Brown

November 2, 2022 | Regulatory

The National Credit Union Administration (NCUA) is funded from the assessments paid by credit unions themselves for the privilege of regulation. This delicate relationship requires a diligent eye on the NCUA’s proposed budget to ensure that the agency does not engage in unnecessary or wasteful spending, and appropriately focuses its resources on protecting the safety and soundness of the credit union industry. That’s why the League took the opportunity to comment on the 2023-2024 Proposed NCUA budget. While the pandemic may be over, a volatile economic environment is emerging, and credit unions and their supervisory authorities must adjust to drive greater efficiency through budget discipline and technological investment. Exploring and developing innovative ways to enhance safety and soundness, expand service, and achieve its mission should remain strategic priorities of both NCUA and the credit unions it supervises. OCUL encouraged NCUA to continue eliminating budget inefficiencies to better reflect today’s financial realities impacting credit unions and their ability to serve their members.

Contact Sean Brown for questions or assistance.

Sean Brown
Sean Brown Director, Regulatory Affairs E: sbrown@ohiocul.org
Contact Us

Other Movement News

Government Affairs

Members advance advocacy priorities in Washington, D.C.

Credit union advocacy strength is built by the willingness of Ohio credit unions to go above and beyond to advocate for 3.2 million Ohioans. Last week, 39 leaders from 26 […]

Credit unions connect with NCUA Chairman during Hike the Hill

Optimal regulation occurs when regulators and regulated organizations collaborate on safety, soundness, and consumer protection priorities without negatively impacting operational viability. Almost 40 Ohio credit union leaders traveled to the […]
Member Benefits

Congratulations 2023 award winners

Credit unions make a positive impact on people’s daily lives, and the League is proud to acknowledge the dedicated individuals who make it all happen each year. This year holds […]