NCUA briefed on dependent care reimbursement proposal, CLF budget

More than a year of credit union advocacy saw major progress at NCUA’s Thursday board meeting, as it included a briefing on a proposed rulemaking that would reimburse expenses incurred by federal credit union board members for dependent care. Responding to concerns raised by a member credit union, America’s Credit Unions has called on the NCUA to propose such a rule for nearly two years. 

Specifically, the proposal would give federal credit union boards the option to adopt policies allowing board members to be reimbursed for dependent care expenses incurred when they attend board meetings or perform other official business. This would give credit unions greater flexibility to adopt family-friendly policies while preserving board discretion. 

By explicitly recognizing dependent care costs as a permissible reimbursable expense, America’s Credit Unions has noted that the proposal would reduce a barrier to volunteer service that can limit participation by otherwise qualified individuals with caregiving responsibilities.

Thursday’s meeting was officially a briefing on the proposal, which is expected to be issued soon via notation vote. Once published in the Federal Register, stakeholders will have 60 days to comment. 

Staff also briefed the board on the Central Liquidity Facility’s (CLF) 2026-2027 budget. The 2026 $2 million budget represents a 12% decrease from the 2025 budget level. The CLF has 450 credit union members and $48.2 million in retained earnings. 

The briefing also included a budget justification.

NCUA Chairman Hauptman also provided an update on the agency’s Deregulation Project and the agency’s 2026 Supervisory Priorities. The NCUA plans to conduct a webinar February 19 starting at 2 p.m. Eastern Time on the priorities, with registration information forthcoming.