ALEXANDRIA, Va. – The NCUA Board approved a 4.2% budget increase on Thursday for the fiscal year 2015, including a net increase of 4.2 FTEs and an additional $7.3 million for employee compensation.
The budget was approved by a 2-1 vote, with Board Member Mark McWatters voting no.
The board also approved a higher-than-usual overhead transfer rate of 71.8%, citing an increase in the percentage of insured shares held by state credit unions.
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