The NCUA announced last week at its monthly board meeting that credit unions’ assessment for the Temporary Corporate Credit Union Stabilization Fund would be a mere eight basis points. The total bill for credit unions comes to $701 million, or approximately $100,000 on average per credit union, for 2013. It’s...
It has an endless supply of funding: your credit union’s money.
ALEXANDRIA, Va. — Credit unions already paid 2013 operating fees, so excess funds will offset 2014 operating budget, NCUA Board decides.
Trade associations are hopeful the NCUA will reduce its 2013 operating budget during its monthly board meeting July 25. While the board’s open meeting agenda has not yet been released, historically the federal regulator makes mid-year adjustments to the operating budget and announces the annual corporate assessment rate in July.
Congressional budget passed this week didn't include 7.5% planned NCUA hike for employee pay and benefits.
Bank regulator budget compares with 6.1% budget hike for NCUA.
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.
While credit unions seem to have dodged this lob for now, it did draw attention to the credit union tax exemption, which the banking lobby is sure to relish.
NAFCU and CUNA both spoke out Thursday against the new annual budget approved earlier in the day by the NCUA Board.
ALEXANDRIA, Va. — Fiscal year 2013 budget approved at $251.4 million, continuing string of annual spending increases.