ALEXANDRIA, Va. — Largely because of personnel changes, the NCUA is only likely to spend $223.4 million this year rather than the $225.4 million budgeted, as a result of a revised spending plan approved by the NCUA Board on Thursday.

Although the agency will be hiring five new people for positions handling operations such as loan reviews and credit union liquidations, losses of other personnel will cause a $2.9 million reduction in personnel costs.

There will be increases in travel, administrative,  and contracted services costs totalling $900,000.

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