ALEXANDRIA, Va. – The NCUA Board approved a 4.2% budget increase on Thursday for the fiscal year 2015, including a net increase of 4.2 FTEs and an additional $7.3 million for employee compensation.
The budget was approved by a 2-1 vote, with Board Member Mark McWatters voting no.
The board also approved a higher-than-usual overhead transfer rate of 71.8%, citing an increase in the percentage of insured shares held by state credit unions.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
