Engaging with NCUA on separation program, credit union issues

The NCUA’s voluntary separation program and other pressing credit union issues were the focus of a meeting with America’s Credit Unions Regulatory Advocacy Senior Counsel Luke Martone and agency staff Tuesday.  

The NCUA indicated in last week’s briefing it is working towards a 20% reduction in headcount by the end of 2025, as well as an “orderly transition to a new, streamlined future state.”  The NCUA Board approved a voluntary separation program March 21, following an Executive Order on workforce optimization.  

The first phase of the program ran from March 31 to May 5, and 257 staff members were enrolled as of May 21. The agency estimates an eventual 21.5% reduction from the January 2025 headcount and $75 million in 2026 payroll and contract savings. Due to the number of participants in the initial phase of the program, NCUA staff indicated a second round is unlikely.  

America’s Credit Unions continues to support increased efficiency at the NCUA and will continue to engage with the agency throughout the process.