WASHINGTON (UPDATED: 12:15 p.m. ET, 11/15/12)--The Credit Union National Association (CUNA) is outraged by the National Credit Union Administration's (NCUA) planned 2013 budget increase, and will be pursuing this with other policymakers to achieve greater accountability and transparency in the agency's budgetary process, CUNA President/CEO Bill Cheney said today.
The NCUA today approved a 2013 budget of $251.4 million. This budget represents an increase of 6.1% from 2012's NCUA budget.
The total amount of 2013 budget increase is $14.5 million, and $12.8M of this budget increase would go to possible staff pay increases, employee benefits, locality pay, and full funding for full-time employees that were only partially funded in 2012.
The agency noted that this number could change if Congress does not approve a federal employee pay increase for next year.
The approved budget would require an increase in the operating fee for federal credit unions of 0.24%.
For more on the NCUA meeting, read News Now's Friday edition.