While the proposed NCUA budget for 2018 continues the trend of increased spending, credit union trade groups said Wednesday that the agency is taking steps they hope will slow that growth.
"The increase seems to be reasonable," CUNA Economist Mike Schenk said Wednesday during a hearing on the agency's budget. He praised the agency for plans to close field offices in Atlanta and Albany, N.Y., but expressed concerns about increased personnel costs.
The proposed 2018 increase of $6.1 million represents a 2.1% increase from 2017.The agency also projects a 2019 budget of $302.8 million, a $4.6 million increase from the proposed 2018 level.
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