CUNA and NAFCU said the 13% budget increase approved by the NCUABoard today was excessive given the financial difficulties facingmany credit unions.

The $200.9 million spending plan will finance the agency'soperation for 2010.

"We understand the NCUA Board's desire to provide closesupervision of credit unions in these difficult economic times, butwe believe this can be realized through greater efficiencies at theagency," CUNA President/CEO Dan Mica said in a statement. "Goingforward, we hope to see more disclosure in the budget process andwill seek to work with NCUA to ensure expenses are kept to theminimum necessary without compromising the agency's mission ofsafety and soundness."

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