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NAFCU releases 2023 NCUA Operating Fee Calculator
NAFCU released a 2023 NCUA Operating Fee Calculator last Friday. In a message to members, NAFCU Vice President of Research and Chief Economist Curt Long said that the calculator will allow credit unions to find out how the NCUA’s current proposed budget for 2023-2024 will affect their bottom lines. Notably, any changes to the NCUA’s final budget will change the estimate.
The NCUA proposed Operating Budget for 2023 is ten percent higher than 2022. NAFCU President and CEO Dan Berger has expressed opposition to the proposed budget increase. He remarked that although NAFCU supports a strong NCUA, the association does not support a budget increase, particularly at a time when credit unions need all available resources to help their members deal with the effects of natural disasters and the highest inflation in recent history. NAFCU will be testifying at the agency’s upcoming budget hearing to oppose the increase, which would be the largest increase in over a decade.