NCUA responds to Boeing Employees' petition for OTR rulemaking

TUKWILA, Wash. – Gary Oakland, president/CEO, Boeing Employees’ Credit Union confirmed he received a letter from NCUA’s Becky Baker acknowledging the agency’s receipt of BECU’s petition filed with NCUA for overhead transfer rate rulemaking. According to Oakland, NCUA’s letter dated September 27, said the agency was studying Boeing’s request and would respond to it within 30-60 days. In its petition filed Sept. 7, BECU requested NCUA conduct a notice and comment rulemaking that would allow NCUSIF-insured credit unions to participate in decisions relating to funding NCUA transfers from the NCUSIF to pay for the agency’s administration of the insurance fund. Oakland said he hoped NCUA Chairman Dennis Dollar’s decision to hold open budget hearings for the agency “will help the situation.” He added that, “I understand that this will be the first time the NCUA will be doing this. I don’t expect it to be perfect, but I hope it’s the first step.”