NCUA official seal NCUA official seal. (Source: NCUA)

While CUNA and NAFCU both applauded the NCUA’s transparency of its proposed 2023-2024 budget process, the trade groups submitted letters Friday to ask the agency to trim down the budget and, at the same time, find ways to not add new credit union regulations that could overburden the industry.

The 2023-2024 proposed budget unveiled earlier in October currently sits at $367 million, with proposed additions to staff, increased travel dollars and nearly $13 million to cover pay and benefits cost increases. Most of the budgetary increases reflect the dramatic rise in inflation that is expected to last through next year.

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Michael Ogden

Editor-in-Chief for CU Times.

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