The combined budgets of the National Credit Union Administration (NCUA) in 2026 will total $316.15 million, about $2.36 million more than proposed but 20% below the agency’s 2025 budget, according to action apparently taken Wednesday and announced in Thursday’s open agency board meeting.
The increase is the net of a $3.6 million decrease from the proposed operating budget, to $288.7 million; plus $6 million increase from the proposed capital budget, to about $24.1million. Despite that, the final budget remains close to the initially projected 20.6% decrease from 2025, with the lion’s share of that reduction the result of reduced staffing, which has been cut from 1,255 approved positions to 967. The Share Insurance Fund administrative expenses budget was approved at about $3.31 million, as proposed.
Of the agency’s 2026 expenses, the agency said, 38.2% will be collected from operating fees paid by federal credit unions, with the remaining 61.8% paid by the National Credit Union Share Insurance Fund (NCUSIF).
The 2027 budget – which should get another review next year before any final figure is set– was approved at a total of about $325.3 million, down 9.8% from a proposed $344.7 million and up 2.9% from the proposed figure. That total includes an operating budget of about $312 million, down $9 million from the proposed figure; and a capital budget of about $8.2 million, down about $10.8 million from the proposed figure. The Share Insurance Fund administrative budget was approved at about $5.2 million. The 2027 budget also reflects a total of 967 staff positions.
The staff reductions being taken this year were at the behest of the White House’s “Department of Government Efficiency,” which was run by Elon Musk.
Meanwhile, the president’s firings in April of the two Democrats on the NCUA Board – Todd Harper (also a former chairman) and Tanya Otsuka, who have sued to regain their seats – have left Kyle Hauptman, the board’s Republican chairman, as the sole agency board member.
The agency released its proposed budget in September, held a public hearing on it Nov. 5 and took comments from the public until Nov. 7. The changes from the proposal responded in part to comments received.
The board action memorandum on the budget shows that the NCUA Board was asked to approve the 2026-2027 budgets Wednesday by notation vote. There seems to have been no earlier announcement of that vote.
NCUA Board Approves Budget; Receives Update on Share Insurance Fund
Board action memorandum, 2026-2027 Share Insurance Fund, Operating and Capital Budgets
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