The NCUA is paying $2,860 for the livestreaming of each board monthly board meeting, CU Times has learned.
"The cost of the livestreaming will be $2,860, which assumes up to 500 people register. If we draw more people than that, there will be a $344 charge for each additional block of 250 people, meaning, if we draw between 501 and 750, that's $344. Between 751 and 1,000 would be an additional $344, and so on," NCUA Public Affairs Specialist John Fairbanks said.
The Feb. 19 board meeting was scheduled to be the first one with a live video stream.
Fairbanks said the total cost of livestreaming is the same as the agency's current practice of recording, close captioning and archiving video of the NCUA board meetings. The video is typically released about one month after each board meeting occurs.
"This is a significant step forward in terms of agency transparency, and I want to thank Vice Chairman Metsger for initiating this idea," NCUA Board Chairman Debbie Matz said. "Anyone interested in seeing and hearing NCUA Board meetings live will now be able to log in, follow the open Board discussions and get an immediate sense of how regulations and other policy decisions are made."
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