GoWest Shares Testimony at NCUA 2025-2026 Budget Hearing

On Nov. 22, the National Credit Union Administration held a budget hearing for the 2025-2026 Agency budget. Among the four credit union representatives present to provide testimonies on the budget was John Trull, GoWest’s VP of Regulatory Advocacy.  

Trull expressed appreciation for the NCUA’s budget hearing process as it provides a platform for public input that is unique among financial regulators. His testimony highlighted that a 12.2% increase in overall budget between 2024 and 2025 was concerning and misaligned “considering the economic pressures facing both the credit union industry and the people it serves. This disconnect signals a need for further scrutiny to ensure a balanced approach that optimally manages both mission support and examination and supervision.”  

His testimony, which was well received by the NCUA Board, was echoed by others’ testimonies that also called for a more measured approach to budgeting. 

In addition to the overall budget increase, we highlighted issues including: 

  • Resource Allocation: The need for careful distribution to maintain operational efficiency. 
  • Expanding Compliance Focus: The implications of the NCUA’s increasing emphasis on consumer compliance for both federal and state-chartered institutions. 
  • Share Insurance Fund Impact: The potential consequences of drawing from the Share Insurance Fund to support NCUA regulatory initiatives.  

Read the GoWest testimony here. Watch the Budget Hearing, linked here.

The NCUA will now take the next month to review input from the hearing. A final decision on the 2025-2026 budget is expected at the next NCUA Board Meeting on Dec. 17 

Posted in Advocacy on the Move, Regulatory Advocacy.