NCUA budget briefing over, but comments will be taken until Dec. 2

A Dec. 2 comment deadline is the next item in the timeline toward eventual approval of the 2020-2021 budget for the National Credit Union Administration (NCUA).

The agency held a public briefing on the proposed budget – $347.7 million in 2020, up 3.9% from the approved 2019 budget; and $358.1 million in 2021 – at its headquarters building in Alexandria, Va., Wednesday, with representatives from all three national credit union trade groups giving remarks.

The NCUA budget is still out for comment until Dec. 2, with the next step slated Dec. 12, when the board is expected to complete consideration of the final budget during its open meeting.

To recap, key elements of the NCUA’s proposed 2020 budget include:

  • Operating budget of $316.2 million, up $11.8 million, or 3.9%, from 2019
  • Capital budget of $25.1 million, up $3.1 million, or 14%, from 2019
  • Share insurance fund administrative budget of $6.5 million, down $1.9 million, or 22.9%, from 2019.

The proposed 2020 operating budget includes, among other things, $231.4 million for pay and benefits (up 3.8% from 2019); $43.3 million for contracted services (up 13.8%); and $27.4 million for travel (up 2.2%); and $8.2 million for rent, communications, and utilities (up 2.3%).

Employee pay and benefits account for 73% of the total proposed 2020 budget figure.

NCUA has posted five comments submitted on the budget, so far, on its website. Additional comments can be submitted until Dec. 2 by email to BudgetComments@ncua.gov; include the commenter’s name and this subject line: “Comments on the NCUA Draft 2020-2021 Budget Justification.”

NCUA Budget and Supplementary Materials

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