The NCUA board will vote on its proposed 2018-2019 budget when it meets Nov. 16.
The budget, outlined last month, proposed a 2018 increase of $6.1 million– a 2.1% increase from 2017.The agency also projects a 2019 budget of $302.8 million, a $4.6 million increase from the proposed 2018 level.
Under the budget and an agency reorganization plan, the agency’s Albany, N.Y. is slated to close on Dec. 31, 2018, with the agency’s Alexandria office handling most of the states supervised by the Albany office.
The Atlanta office is scheduled to close on the same date, with the agency’s Austin, Texas office absorbing the states previously served by Atlanta. However, the Tempe, Ariz. office will absorb the western states that had been supervised by Austin.
At the Nov. 16 meeting, the board also will consider the methodology used to calculate the Overhead Transfer Rate and will receive a quarterly report on the Corporate Stabilization Fund.
In addition, the board will consider a final rule dealing with Corporate Credit Unions.
