GoWest to Testify at NCUA Budget Briefing This Week

November 19, 2024

The National Credit Union Administration holds a public briefing on its proposed 2025-2026 budget on Nov. 22.  John Trull, GoWest’s Vice President, Regulatory Advocacy, will testify.

NCUA is proposing significant spending increases. The agency’s proposal includes three separate budgets:

• Operating budget of $419.3 million, 12% higher than in 2024;
• Capital budget of $8.2 million, 32.6% higher than this year’s budget; and
• Share Insurance Fund administrative budget of $5.5 million, 7% higher than in 2024.

Testimony offered by Trull and others during the last budgetary process resulted in reductions to the original proposal.

“We commend the NCUA for listening to feedback at last year’s budget briefing and ultimately reducing the final 2024 budget by $8.5 million from the initial proposal, demonstrating responsiveness to the industry’s input,” Trull said.

More information can be found on the Budget and Supplementary Materials page on NCUA’s website.

GoWest members are encouraged to watch the process. The meeting will be livestreamed on NCUA.gov at 7:00 a.m. PT/ 8:00 a.m. MT.

Following Friday’s briefing, NCUA will continue to accept comments through November 27. Comments can be submitted on Docket # NCUA=2024-0135 at the Federal eRulemaking Portal.  NCUA is expected to vote on the budget at its December 17 meeting.

Posted in Advocacy on the Move, Regulatory Advocacy.