WASHINGTON-Logistics Management Inc. (LMI) concluded that NCUA employs a “consistent and well-documented” budget process in making staffing and resource choices, according to CUNA, which funded the study. LMI did criticize the agency’s lack of external oversight of the budget and added that the budget presentation format could be revamped to provide more meaningful details. Recently, NCUA Acting Chairman Dennis Dollar announced plans to hold public budget hearings to gather credit unions’ points of view. All federally insured credit unions contribute directly or indirectly, through the NCUSIF to the NCUA budget. CUNA President and CEO Dan Mica praised Dollar’s announcement, saying, “Chairman Dollar’s willingness to open the budget process to credit union input is right on track with the result of the independent review CUNA sponsored. Clearly he’s listening and responding to the concerns of credit unions.” CUNA presented its budget review findings Thursday to Dollar and Board Member Geoff Bacino. The trade association has no plans of releasing the study to the public.

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