Removing Barriers Blog

Summary of January 21 NCUA Board Meeting
Posted January 21, 2016 by CUNA Advocacy

At this meeting, NCUA issued a Final Rule amending Part 790.2(b) related to the Office of Minority and Women Inclusion Reporting Structure.  The NCUA also voted to publish NCUA’s 2017-2021 Strategic Plan, the Overhead Transfer Rate Methodology and the Federal Credit Union Operating Fee Methodology in the Federal Register for Public Comment.  During the closed portion of the meeting the NCUA considered a briefing on a Supervisory Matter and a Personnel issue. These items were closed to the public.

Final Rule – Part 790.2(b) – Office of Minority and Women Inclusion Reporting Structure.

This proposed Final Rule moves the Director of Equal Employment Opportunity to the Director of the Office of Minority and Women Inclusion (OMWI) and revises the OMWI Director’s reporting line from the Executive Director to the NCUA Chairman.

NCUA’s 2017 – 2021 Strategic Plan.

The draft strategic plan for 2017-2021 was approved and released for a 60-day public comment period in the Federal Register.  The Strategic Plan summarizes NCUA’s analysis of the internal and external environment impacting the NCUA, evaluates their programs and risks, provides goals and objectives for the next five years.  The three strategic goals for 2017 – 2021 are as follows:

  1.  Ensure a Safe and Sound Credit Union System;
  2. Promote Consumer Protection and Financial Literacy;
  3. Cultivate and Inclusive, Collaborative Workplace at NCUA that Maximizes Productivity and Enhances Impact.

Overhead Transfer Rate Methodology.

The Board approved for publication the Overhead Transfer Rate (OTR) methodology for a 90-day comment period to be published in the Federal Register.  The OTR represents insurance-related costs in the NCUA operating budget to be funded by the National Credit Union Share Insurance Fund.  The methodology out for comment is the same methodology used by the Board at the November 19, 2015 meeting.  The methodology has been in place since 2003.  NCUA intends to analyze the comments and determine whether or not to adjust the methodology.

Federal Credit Union Operating Fee Methodology.

The Board approved for publication the Operating Fee Methodology for Federal credit unions for a 90-day comment period to be published in the Federal Register.  The Operating Fee methodology is used to determine the aggregate amount of operating fees charged to federal credit unions, including the fee schedule that allocates the operating fee among FCUs.  The Operating Fee is used to fund part of NCUA’s Operating Budget.  Chairman Matz specifically asked for comments on some of the fee thresholds, particularly for smaller size asset credit unions.