NAFCU: NCUA Strategic Plan Should Reflect CU Consolidation, Increasing Complexities
ARLINGTON, Va.-NCUA's 2006-2011 Strategic Plan should better reflect the direction the credit union industry is going, according to NAFCU. NAFCU President and CEO Fred Becker wrote in an official comment letter to the agency, "The strategic plan is paramount to maintaining and enhancing the agency's role as the regulator of all federally insured credit unions and as the insurer of all federally insured credit unions. A well defined strategic plan will also enable NCUA to better accomplish its mission and enhance its effectiveness as both a regulator and insurer." He continued, "Given the rapid consolidation of credit unions and the increasing growth in assets of the credit union community, crafting a strategic plan that properly structures NCUA as a regulator and insurer will only be more difficult the longer we delay. We would hope that NCUA would take the time to step back and examine the industry and assess how best to address the competing claims for resources that it is sure to face and that without proper planning will only be more difficult to accommodate in the future." Becker touched on how these changes should also reflect in NCUA's staffing and budget.