ALEXANDRIA, Va. – The NCUA won't be spending more money during the second half of the year overall, but will be spending $200,000 more than planned on public outreach and almost $300,000 more on salaries and benefits, the NCUA Board decided today.
The outreach funds will be used for town hall meetings on the agency's rescue of the corporate credit unions and Webinars.
The NCUA's budget is $184,167,977.
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The board gave preliminary approval to rules that clarify how premiums and 1% deposits are calculated if a credit union leaves or enters the NCUSIF during the year.
Under the proposed rule, for which there is a 60-day comment period, if a credit union enters the system a day after an impairment takes effect it does not have to pay the impairment.
When a premium is levied as of a specific date, a credit union that leaves the NCUSIF's premium would be pro rated to cover their entire time within the system.
The board voted to keep 18% as the top interest rate that federal credit unions can charge on their loans and credit cards.
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