ALEXANDRIA, Va. (11/15/12)--Potential share insurance and corporate assessment ranges for 2013, and an agency budget for that year, will be some of the items unveiled when the National Credit Union Administration (NCUA) meets today.
The Credit Union National Association (CUNA) on Tuesday urged the agency to contain its 2013 costs, suggesting that the NCUA reject additional budget growth and hold the line on travel expenses. CUNA also recommended the NCUA increase budget transparency and accountability. CUNA President/CEO Bill Cheney noted that these recommendations are based on the "very serious concerns" credit unions have about the management of the agency's budget, based on "substantial increases the NCUA has approved" over the last three years.
CUNA has also suggested the agency could charge a 2013 Temporary Corporate Credit Union Stabilization Fund (TCCUSF) assessment of no more than 5 basis points (bp). That level of TCCUSF assessment "would be sufficient to responsibly make headway on paying down the fund, pending further information on what the ultimate losses will actually be," CUNA Chief Economist Bill Hampel said last month. The NCUA has said the 2013 TCCUSF assessment is likely to be in the range of 5 bp to 10 bp.
The agency did not charge a National Credit Union Share Insurance Fund (NCUSIF) premium in 2012, and the amount of a 2013 assessment, if any, is not known.
Overhead transfer rates (OTR) and operating fee scales are also on the agenda.
For more on the NCUA board meeting, use the resource link.