The agency’s one-member board is “tentatively” scheduled to hold its next open meeting July 24, the National Credit Union Administration (NCUA) said in a release Friday.
While not specifying so in its release, the agency has updated its website to show the June 17 meeting as “canceled.” All remaining 2025 meeting dates listed are still labeled “tentative.”
“Projected meeting dates listed online are placeholders put on the calendar at the end of the prior year,” the agency release said. “As a result, dates of NCUA Board meetings should be considered tentative until the issuance of a formal meeting notice. All future meetings’ agendas and schedules are subject to change at any time.”
NCUA Board Chairman Kyle Hauptman, a Republican, has been serving on the board solo since April, when Democrats Todd Harper (also a former board chair) and Tanya Otsuka, who were serving unexpired terms, were fired by the White House. They are suing to regain their seats.
After the firings, the agency asserted a “NCUA’s long-held view that a single Board Member constitutes a quorum when there are no other Board Members.” However, the NCUA rules of board procedure state that two board members must be in agreement on any board action.
Hauptman led a May 22 open board meeting but took no board action. Instead, the meeting included staff reports on the National Credit Union Share Insurance Fund (NCUSIF) and the agency’s Voluntary Separation Program (VSP). The VSP was approved by the then three-member board in March to comply with President Donald Trump’s (R) federal government-wide staff cuts (carried out by the Department of Government Efficiency, until recently led by Elon Musk).
The VSP will bring some 250 staff departures by year-end, staff reported at the meeting, with 152 already on administrative leave at the time of the board meeting. A hiring freeze is currently in effect under the president’s order. When it’s lifted, NCUA staff reported that hiring will occur at a ratio of one new staffer for every four who depart.
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