Each November, the NCUA puts forth its budget for the following year.  Every year, NAFCU has steadfastly pressed NCUA to be vigilant in keeping every possible cost down.

It is important for NCUA, as steward of the money it receives from federally insured credit unions and their members, to administer each penny with the utmost diligence since credit unions pay for the operating expenses and administration of the agency.  The NCUA should look carefully at what works and reprioritize any agency resources that can be used more effectively. Credit unions are still recovering from the economic downturn and are retooling their staffing to accommodate the overwhelming regulatory burden.

Between 2009-2012, through mergers and liquidations, approximately 1,000 credit unions have ceased doing business. That is about 250 each year. Unfortunately, 2013 is on track to see credit unions disappear at the same clip. With the number of credit unions NCUA oversees shrinking, the budgeting should correspond. Yet, NCUA's budget has increased from $178 million in 2009 to $251 million in 2013.  NCUA argues that it needs more resources because credit unions are becoming more complex, but NAFCU has urged the agency to look at efficiencies in other areas.