NCUA Budget and Share Insurance Fund

The National Credit Union Administration (NCUA) is funded by credit unions and their members, without taxpayer funding through the Congressional appropriations process. Credit unions deserve an open and transparent budgeting process that reigns in unsustainable year-over-year budget increases. We believe that public budget briefings are an indispensable opportunity for the industry to provide thoughtful input on the NCUA’s expenditures.

America’s Credit Unions continues to work on ensuring the methodology used to fund the NCUA’s operating budget is established and consistent with fairness to state and federal credit unions and the Federal Credit Union Act and only supports those expenses to the National Credit Union Share Insurance Fund (SIF) that are legitimate substantiated “insurance-related costs.”  

The NCUA should work diligently to maintain the SIF’s equity ratio above the statutory minimum of 1.20 percent through prudent management, not an unnecessary and costly premium charge for credit unions. America’s Credit Unions strongly opposes any efforts to increase the NCUA’s ability to charge premiums for the SIF.