The NCUA board includes, from left to right, Board Member J. Mark McWatters, Chairman Debbie Matz and Vice Chairman Rick Metsger.

The NCUA board approved 2016 operating and capital budgets that totaled more than $300 million during its November board meeting, according to the board action memorandum. Combined operating and capital budgets approved for 2017 exceeded $316 million.

The 2016 operating budget of $290.9 million represented a 4.1% increase over 2015. The board approved a $302.9 million operating budget for 2017, which also marked a 4.1% increase over the previous year. NCUA Chairman Debbie Matz announced in October during the agency’s Open Forum she would present a two-year budget for approval for the first time since the financial crisis.

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