The NCUA Board voted at its Nov. 15 meeting to increase its fiscal year 2013 budget by 6.1% from that of fiscal year 2012. But it voted to leave other numbers associated with the budget, the overhead transfer rate and operating fee for federal credit unions, largely unchanged.
This means NCUA is budgeted to spend $251.4 million in fiscal year 2013, an increase of $14.5 million over 2012's $236.9 million.
"This is not something we take lightly," said NCUA Board Chairman Debbie Matz who shared the board table with the board's lone Republican member, Michael Fryzel.
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