ALEXANDRIA, Va. — The NCUA is to discuss and vote on its budget, discuss several rules changes and hear a report on the health of the National Share Insurance Fund at its meeting next Thursday.
The agency announced last month that the budget proposal would most likely be for 182.9 million, a $24.3 million increase over the current level. The additional funds will be used mostly to hire about 100 new examiners, centralize the chartering process and place federal credit unions on a 12-month examination cycle. The budget, which the board must approve, takes effect Jan. 1.
The fund had $7.8 billion in assets, according to a report given to the board at last month's meeting. But NCUA Chairman Michael E. Fryzel asked for additional information at next Thursday's session about how much the fund has paid out this year and over the past 10 years.
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