NCUA misses mark with proposed budget
Published by: Sean Brown
December 3, 2024 | Regulatory
Ohio’s credit unions not only support the idea of fiscal responsibility but embody it as they remain viable through a historically unstable economic, regulatory, and political environment. It is only natural, then, that the agency overseeing credit unions follows the same principle. However, the NCUA has once more proposed unreasonable, unnecessary, and unjustified increases for its 2025-2026 budgets. In short, the proposed budget includes a 12.2% increase in the combined budget compared to 2024, a 12% increase in the operating budget compared to 2024, and an increase of 25 positions over the next two years.
The League submitted a comment letter opposing the proposed budget and advocated for a more calibrated, efficient use of credit union assessment dollars. The NCUA’s continuing, insatiable growth trend comes at the expense of those who pay for the privilege of regulation. For more than a decade, the NCUA has increased its budget in the face of declining credit union numbers, and the League will continue to advocate for a budget that is appropriate, justifiable, and proportionate to agency needs.
Contact Sean Brown for questions or assistance.
