75040 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

Name of applicant organization State Service 

area 

Estimated 

annualized 

2024 funding 

Community Law Office, Inc ............................................................................................................ PR PR–2 381,614 

Rhode Island Legal Services, Inc ................................................................................................... RI RI–1 1,333,661 

South Carolina Legal Services, Inc ................................................................................................ SC MSC 328,404 

South Carolina Legal Services, Inc ................................................................................................ SC SC–8 8,109,537 

East River Legal Services .............................................................................................................. SD SD–2 585,331 

Dakota Plains Legal Services, Inc .................................................................................................. SD SD–4 656,404 

Dakota Plains Legal Services, Inc .................................................................................................. SD NSD–1 1,407,733 

Legal Aid of East Tennessee ......................................................................................................... TN TN–9 3,631,438 

Memphis Area Legal Services, Inc ................................................................................................. TN TN–4 1,980,595 

Legal Aid Society of Middle Tennessee and the Cumberlands ..................................................... TN TN–10 4,407,477 

West Tennessee Legal Services, Inc ............................................................................................. TN TN–7 940,648 

Legal Aid of NorthWest Texas ....................................................................................................... TX TX–14 12,928,681 

Lone Star Legal Aid ........................................................................................................................ TX TX–13 16,926,880 

Texas RioGrande Legal Aid, Inc .................................................................................................... TX MSX–2 3,491,115 

Texas RioGrande Legal Aid, Inc .................................................................................................... TX TX–15 15,951,018 

Texas RioGrande Legal Aid, Inc .................................................................................................... TX NTX–1 47,187 

Utah Legal Services, Inc ................................................................................................................ UT MUT 130,779 

Utah Legal Services, Inc ................................................................................................................ UT UT–1 3,295,336 

Utah Legal Services, Inc ................................................................................................................ UT NUT–1 124,037 

Legal Services of Northern Virginia, Inc ......................................................................................... VA VA–20 2,402,141 

Southwest Virginia Legal Aid Society, Inc ...................................................................................... VA VA–15 1,183,690 

Legal Aid Society of Eastern Virginia ............................................................................................. VA VA–16 2,004,764 

Central Virginia Legal Aid Society, Inc ........................................................................................... VA MVA 375,743 

Central Virginia Legal Aid Society, Inc ........................................................................................... VA VA–18 1,746,313 

Virginia Legal Aid Society, Inc ........................................................................................................ VA VA–17 1,145,353 

Blue Ridge Legal Services, Inc ...................................................................................................... VA VA–19 1,163,760 

Legal Services of the Virgin Islands, Inc ........................................................................................ VI VI–1 287,739 

Legal Services Vermont ................................................................................................................. VT VT–1 672,330 

Northwest Justice Project ............................................................................................................... WA MWA 1,230,446 

Northwest Justice Project ............................................................................................................... WA WA–1 7,664,201 

Northwest Justice Project ............................................................................................................... WA NWA–1 429,491 

Legal Action of Wisconsin, Inc ....................................................................................................... WI MWI 570,722 

Legal Action of Wisconsin, Inc ....................................................................................................... WI WI–5 5,272,036 

Judicare Legal Aid .......................................................................................................................... WI WI–2 1,361,792 

Judicare Legal Aid .......................................................................................................................... WI NWI–1 233,875 

Legal Aid of West Virginia, Inc ....................................................................................................... WV WV–5 3,395,116 

Legal Aid of Wyoming, Inc ............................................................................................................. WY WY–4 693,615 

Legal Aid of Wyoming, Inc ............................................................................................................. WY NWY–1 260,534 

These grants will be awarded under 

the authority conferred on LSC by 

section 1006(a)(1) of the Legal Services 

Corporation Act, 42 U.S.C. 2996e(a)(l). 

Grant awards are made to ensure civil 

legal services are provided in every 

service area, although no listed 

organization is guaranteed a grant 

award. Grants will become effective, 

and grant funds will be distributed, on 

or about January 1, 2024. 

LSC issues this notice pursuant to 42 

U.S.C. 2996f(f). Comments and 

recommendations concerning potential 

grantees are invited and should be 

delivered to LSC within 30 days from 

the date of publication of this notice. 

(Authority: 42 U.S.C. 2996f(f); 42 U.S.C. 

2996g(e).) 

October 27, 2023. 

Stefanie Davis, 

Deputy General Counsel and Ethics Officer, 

Legal Services Corporation. 

[FR Doc. 2023–24129 Filed 10–31–23; 8:45 am] 

BILLING CODE 7050–01–P 

NATIONAL CREDIT UNION 

ADMINISTRATION 

[NCUA–2023–0117] 

The NCUA Staff Draft 2024–2025 

Budget Justification 

AGENCY: National Credit Union 

Administration (NCUA). 

ACTION: Notice. 

SUMMARY: The NCUA’s staff draft 

‘‘detailed business-type budget’’ is being 

made available for public review as 

required by federal statute. The 

proposed resources will finance the 

agency’s annual operations and capital 

projects, both of which are necessary for 

the agency to accomplish its mission of 

protecting the system of cooperative 

credit and its member-owners through 

effective chartering, supervision, 

regulation, and insurance. The briefing 

schedule and comment instructions are 

included in the supplementary 

information section. 

DATES: Requests to deliver an in-person 

statement at the November 16, 2023, 

budget briefing must be received on or 

before November 8, 2023. Written 

statements and presentations for those 

scheduled to appear at the budget 

briefing must be received on or before 

9 a.m. Eastern, November 13, 2023. 

Written comments may be submitted 

by November 21, 2023. 

ADDRESSES: You may submit comments 

by any of the following methods (please 

send comments by one method only): 

• In-person presentation at public 

budget briefing: submit requests to 

deliver a statement at the briefing to 

BudgetBriefing@ncua.gov by November 

8, 2023. Include your name, title, 

affiliation, mailing address, email 

address, and telephone number. The 

NCUA Board Secretary will inform you 

by November 9, 2023, if you have been 

approved to make a presentation. In 

order to present at the public meeting, 

you must submit a statement. Your 

statement must be submitted to 

BudgetBriefing@ncua.gov by 9 a.m. 

Eastern, November 13, 2023. Your 

presentation must be delivered in 

person at the public budget briefing. 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75041 

1Budget information presented in this document 

excludes funding for the Central Liquidity Facility 

(CLF), which has its own budget reviewed and 

decided upon separately by the CLF Board. 

You will be allotted five minutes during 

the budget briefing to deliver your 

remarks. 

• Written comments without an inperson presentation: submit written 

comments by November 21, 2023, 

through the Federal eRulemaking Portal: 

https://www.regulations.gov. The docket 

number is NCUA–2023–0117. Follow 

the instructions for submitting 

comments. 

• Copies of the NCUA Draft 2024– 

2025 Budget Justification and associated 

materials are also available on the 

NCUA website at https://www.ncua.gov/ 

About/Pages/budget-strategic-planning/ 

supplementary-materials.aspx. 

FOR FURTHER INFORMATION CONTACT: 

Eugene H. Schied, Chief Financial 

Officer, National Credit Union 

Administration, 1775 Duke Street, 

Alexandria, Virginia 22314–3428 or 

telephone: (703) 518–6571. 

SUPPLEMENTARY INFORMATION: The 

following itemized list details the 

sections in this Notice made available 

for public review: 

I. The NCUA Budget in Brief 

II. Introduction and Strategic Context 

III. Key Themes of the Proposed 2024–2025 

Budget 

IV. Operating Budget 

V. Capital Budget 

VI. Share Insurance Fund Administrative 

Budget 

VII. Financing the NCUA’s Programs 

VIII. Appendix A: Supplemental Budget 

Information 

IX. Appendix B: Capital Projects 

Section 212 of the Economic Growth, 

Regulatory Relief, and Consumer 

Protection Act amended 12 U.S.C. 

1789(b)(1)(A) to require the NCUA 

Board (Board) to ‘‘on an annual basis 

and prior to the submission of the 

detailed business-type budget make 

publicly available and publish in the 

Federal Register a draft of the detailed 

business-type budget.’’ Although 12 

U.S.C. 1789(b)(1)(A) requires 

publication of a ‘‘business-type budget’’ 

only for the agency operations arising 

under the Federal Credit Union Act’s 

subchapter on insurance activities, in 

the interest of transparency the Board is 

providing the NCUA’s entire staff draft 

budget for 2024–2025 in this Notice. 

The staff draft budget details the 

resources required to support NCUA’s 

mission. The staff draft budget includes 

personnel and dollar estimates for three 

major budget components: (1) the 

Operating Budget; (2) the Capital 

Budget; and (3) the Share Insurance 

Fund Administrative Budget. The 

resources proposed in the staff draft 

budget are to carry out the agency’s 

operations in 2024 and 2025. This 

document is a draft, staff-level budget 

proposal made available to the NCUA 

Board members and the public for their 

consideration and comment. The NCUA 

Board directed the NCUA Executive 

Director to develop the staff draft budget 

under delegated authority. The staff 

draft budget may change based on 

public comments, Board member 

decisions, and staff’s ongoing 

consideration of estimates and programs 

that impact the budget. 

The NCUA Chief Financial Officer 

will present the staff draft budget at a 

budget briefing open to the public and 

scheduled for Thursday, November 16, 

2023, at 2:00 p.m. Eastern at the NCUA 

headquarters building, 1775 Duke 

Street, Alexandria, Virginia 22314. 

Interested parties unable to attend in 

person may visit the agency’s homepage 

(https://www.ncua.gov/) to access the 

provided webcast link. 

If you wish to participate in the 

briefing and deliver a statement, you 

must email a request to by November 8, 

2023. Your request must include your 

name, title, affiliation, mailing address, 

email address, and telephone number. 

Statements must be delivered in person 

at the briefing. The NCUA will work to 

accommodate as many public 

statements as possible at the November 

16, 2023, budget briefing. The Board 

Secretary will inform you if you have 

been approved to make a presentation 

and you will be allotted five minutes 

during the budget briefing to deliver 

your remarks. A written copy of your 

statement must be delivered to the 

Board Secretary by email at by 9 a.m. 

Eastern, November 13, 2023. In addition 

to delivering their remarks at the budget 

briefing, registered presenters will be 

provided the opportunity to ask 

questions of NCUA staff about the staff 

draft budget. The initial round of 

questions will be limited to five minutes 

per presenter, and one subsequent 

round of questions, limited to five 

minutes per presenter, may be permitted 

by the Chairman if time allows. 

Written comments on the staff draft 

budget will also be accepted by 

November 21, 2023, through the Federal 

eRulemaking Portal: https://

www.regulations.gov. The docket 

number is NCUA–2023–0117. 

Commenters should follow the portal 

instructions for submitting comments. 

All comments should provide 

specific, actionable recommendations 

about the staff draft budget rather than 

general remarks. The NCUA Board will 

review and consider any comments 

from the public prior to approving the 

NCUA 2024–2025 budget. 

By the National Credit Union 

Administration Board on October 26, 2023. 

Melane Conyers-Ausbrooks, 

Secretary of the Board. 

I. The NCUA Budget in Brief 

Proposed 2024 and 2025 Budgets 

The National Credit Union 

Administration’s (NCUA) 2022–2026 

Strategic Plan sets forth the agency’s 

goals and objectives that form the basis 

for determining resource needs and 

allocations. The agency’s annual 

budgets provide the resources to execute 

the strategic plan, to implement 

important initiatives, and to undertake 

the NCUA’s major programs: 

examination and supervision, 

insurance, credit union development, 

consumer financial protection, and asset 

management.1


ddrumheller on DSK120RN23PROD with NOTICES1
75042 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

2These positions are also known as ‘‘overhire’’ 

positions and are funded by surplus pay and 

benefits budgets that result from vacancies. 

The NCUA’s 2024–2025 staff draft 

budget justification includes three 

separate budgets: the Operating Budget, 

the Capital Budget, and the National 

Credit Union Share Insurance Fund 

(Share Insurance Fund) Administrative 

Expenses Budget. Combined, these three 

budgets total $394.5 million for 2024, 

which is $8.7 million lower than the 

$403.2 million 2024 funding level 

approved by the NCUA Board as part of 

the two-year 2023–2024 budget. 

Three significant factors, when 

combined, account for most of the 9.5 

percent increase in the total budget 

between 2023 and 2024: 

1. A proposed net increase of 11 new 

positions and incorporating into the 

2024 budget 17 existing positions 

currently unfunded in the 2023 budget.2

These positions will support critical 

areas necessary to operate as an effective 

federal financial regulator capable of 

addressing a range of emerging issues 

and increase the 2024 budget by 

approximately $5.9 million compared to 

2023. 

2. An increase of $18.2 million for 

current employee compensation in 2024 

compared to 2023. This increase 

accounts for merit pay raises for the 

NCUA’s employees as required by the 

Collective Bargaining Agreement and 

expected inflationary cost increases for 

employee benefits. 

3. An increase of $10.7 million in 

funding for contracted services for 2024 

compared to 2023. Most of the increase 

in the contracted services category 

includes funding to address new and 

evolving operational risks such as 

cybersecurity threats and for tools used 

to identify and resolve credit union 

system risk concerns such as interest 

rate risk, credit risk, and industry 

concentration risk. Growth in the 

contracted services budget category also 

results from new operations and 

maintenance costs associated with 

recent capital investments. Other costs 

include price inflation for core agency 

business operation systems such as 

accounting and payroll processing and 

various other recurring support costs. 

Recent economic trends, including 

higher inflation and competitive labor 

markets, have also contributed to 

increased costs for the NCUA to conduct 

its work without a significant 

degradation in agency capabilities. 

Proposed 2024 Operating Budget: 

$382.1 Million 

The proposed 2024 Operating Budget 

increases approximately $38.0 million, 

or 11 percent, compared to the 2023 

Board-approved Operating Budget. 

The following chart presents the 

major categories of spending supported 

by the proposed 2024 Operating Budget. 


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2024·-2025 PROPOSED NCUA BUDGET RESOURCES 

ll:02JB011rd 

Appt'011«1 • BQdg.t. 

20:M 

ProPosed 

llldge~ 

Change 

Change ,_cent 

!20U•):024) (2023· 

20241 

Ch111n9e Pl:!$ltion 

Chlill\9e ,-,cent 2023 :2024 20:25 Cha11ge 

(20:14-2025) Pos• Po$* ,.,. [23- (24-

241 25! 

ll8 

~:~:J $ 11,276,000 $ 1;2s1,ooa $ !4,(ll!liJOOl •35,6% $ 10,000,000 $ 2,74.~,ooo 37.11% 

511111'11 

I n,il~Mct •. • • • • , Fund Admln. $ 4,!156,1)()() $ S, 136,000 S 1$0,00(i 

l,ludget 

l'Cltal $1~.;HI0,000 $394,508,000 $34,1111,000 ,. .... mu.m>n 28 J 

* All position levels exclude positions funded by the Central Liquidity Facility (CLF). 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75043 

As shown in the following chart, the 

relative size of the NCUA budget (dotted 

line) has generally decreased when 

compared to balance sheets at federally 

insured credit unions (FICU, solid line). 


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Travel 

/5$% 

Employee Pay 

& Benefits ---

76.7% 

Rent/ Communications/ 

----Utilities 

"' 1.9% 

Administrative 

~ 2.0% 

Contracted Services 

13.6% 

N'-11.JA Operating Bt.d:fget per Million Dollars of IHCU Assets 

Millions 

$300 • 

Trillions 

$270' 

$18() 

$150 • 

... - Federal Deposit lnsurante Corpor.:11tion (FDIC) Operating Budgett Office 

of the Controller •Of the Currency (OCC) Budget Activlty1 and Federal 

Reserve Supervision Costs per Million$ of FDIC Insured Assets (left scale) 

...... NCUA 8udget per Million $ of FICU Assets (left scale)* 

- Credit Union System Assets. in $ Trillions (right scale) 

Souoce: NCUA. Annual Budgets, Call R.eports, FDIC,. OCC, and federal Reserve financial reports 

. $2.5 

$2 .. 0 

$1.5 

: $1.0 

*Budget per miHlon $ of FICU as~ts is calc.ulated as the fiscal year's budget divided by. the previous year's 

end-of~year assets (e.g., 2024 proposed budget ($382.1 Ml I projected FICU assets as of 2023Q4 ($2.3T) = $170 

of NCUA budget per $1 M In FICU assets}. 
75044 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

3This document reflects NCUA staffing levels as 

positions in order to simplify the presentation of 

current and proposed employee levels. At times in 

the past, the NCUA reflected budgeted staffing 

levels as full-time equivalents (FTEs), which is a 

presentation that accounts for staffing vacancies, 

part-time schedules, and other variability in 

employee levels. 

* Percentage change is based upon 

exact amounts reflected in the table, 

‘‘2024–2025 Proposed NCUA Operating 

Budget Summary’’. 

** Total staffing levels for 2024 and 

2025 do not include five positions 

funded by the CLF. 

Total Staffing. The proposed 2024 

Operating Budget includes 1,248 

positions.3 This is a net increase of 28 

positions (11 new positions and 17 

existing, unfunded positions being 

moved on budget) compared to the 2023 

levels approved by the Board. Details of 

the proposed increases in positions are 

discussed later in this document. 

Despite significant credit union asset 

growth, total NCUA staffing is still 

below the 2015 level, as shown in the 

following chart. 


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Proposed 2024 Operating Budget Summary 

tSlli8 Rent; communications, and,utilities b!ld&etsmaintainasential 

&~~ .. "\. p~•i&_ . . ·····.··.:.•. .• .. ····· .. · .. :··.····.·.·· ..... ····:······ .. ···.•'"'•"••· •· ..... ··.···••·• .. ·.·.······ ..... ······.· ••.. · 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75045 

Note: NCUA staffing in this chart 

excludes positions funded by the CLF. 

The Operating Budget estimate for 

2025 is $418.9 million and includes 3 

additional positions compared to the 

2024 level. 


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NCUA Staffing (Positions) 

1,300 

1,266 

1,250 

1,200 

1,150 

1,100 

2015 2016 2017 2018 2019 2020 2021 2022 20l3 2024 
75046 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

Proposed 2025 Operating Budget 

Summary 

* Percentage change is based upon 

exact amounts reflected in the table, 

‘‘2024–2025 Proposed NCUA Operating 

Budget Summary.’’ 

Proposed 2024 Capital Budget: $7.3 

Million 

The proposed 2024 Capital Budget is 

$4.0 million lower than the 2023 Boardapproved budget. 

The Capital Budget supports the 

NCUA’s ongoing effort to modernize its 

information technology infrastructure 

and applications. Funding in the Capital 

Budget for upgrades to or replacement 

of obsolete information technology 

systems is lower in 2024 than in 2023, 

as is the 2024 capital investment for 

continued enhancement of the Modern 

Examination and Risk Identification 

Tool (MERIT) examination system. 

Other information technology 

investments in the proposed 2024 

Capital Budget include funds to ensure 

that agency systems comply with 

evolving cybersecurity requirements 

required of all federal agencies, 

enhancements to agency information 

security, upgrades to old legacy systems, 

and various hardware investments to 

refresh agency networks and ensure staff 

have the tools necessary to achieve the 

agency’s mission. 

The Capital Budget also includes 

$477,000 for NCUA facility maintenance 

and improvements. 

Proposed 2024 Share Insurance Fund 

Administrative Expenses: $5.1 Million 

The proposed 2024 Share Insurance 

Fund Administrative Expenses Budget 

is $0.2 million higher than the 2023 

Board-approved budget. The Share 

Insurance Fund Administrative 

Expenses Budget funds the tools and 

technology used by the Office of 

National Examinations and Supervision 

(ONES) to oversee credit union-run 

stress testing for the largest credit 

unions, travel for state examiners 

attending NCUA-sponsored training, 

audit support for the Share Insurance 

Fund’s financial statements, and certain 

insurance-related expenses for Asset 

Management and Assistance Center 

(AMAC) operations. 

II. Introduction and Strategic Context 

History 

For more than 100 years, credit 

unions have provided financial services 

to their members. Credit unions are notfor-profit financial cooperatives created 

to serve a membership with a common 

bond. 

The Federal Credit Union Act will 

turn 90 years old in 2024. President 

Franklin Roosevelt signed the Federal 

Credit Union Act into law on June 26, 

1934, in the midst of the Great 

Depression. The law’s goal was to make 

credit available to Americans and 

promote thrift through a national system 

of nonprofit, cooperative credit unions. 

The NCUA is the independent federal 

agency established in 1970 by the U.S. 

Congress to regulate, charter, and 

supervise federal credit unions. With 

the backing of the full faith and credit 

of the United States, the NCUA operates 

and manages the National Credit Union 

Share Insurance Fund, insuring the 

deposits of the account holders in all 

federal credit unions and the vast 


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S'f.5. tSU 

S'l.1 

+ 0.2% The 2025 position]evd increases by 3 positions -&om 1;24& 

recomme;ndedfor2Q24_ 

The pay@d benefits budget isprojeeted ro increasein.2025 

to fumfincreased rompensatioo fur on-board employees and 

the coofotnew staff hired in2024 and 202:( 

+ 8.6% Travclco;,1.s ai;; projecled to increa,,e-modestly due to 

expected inflation-and.a nationaltraining conference planned 

for 2025 foi-NCTJA employee.~:. 

+ S.6o/<1 Rent; cllmmunicatiorui, and utililli:Ji costs ar.:.projectedto 

mt,-remie modes.tfy to reflect a:rnmonal fl:mlling <;lJftl:erence 

planned for 2025 for NCUA.employees~ • • 

+ 1~6% Adrnitl-isttative expenses ,ire projected n.1 increase~~ to· 

reflect a llilt_ional ir-aming conference planned fur 2-0",,Sfor 

1'TCUA employeei, 

+ 17.2% Contr.tded services reflect -costs .incurred for products and 

services acquired in the con\Ille.tcial truiiketplac.-_ 1'he 

proposed W24 budget for con.traeted ,sei\.>lces includes an 

offset of $1 If million from projected priot-ycar budget 

sJipluscs, which. is not expect..-id .tu b,i .rvailablc again iti 

2025, 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75047 

4Source: The NCUA quarterly call report data, Q2 

2023. 

5See 12 U.S.C. 1752a(a). 

6See 12 U.S.C. 1766(i)(2). 

7See 12 U.S.C. 1755(a)–(b). 

8See https://www.govinfo.gov/content/pkg/FR2020-12-31/pdf/2020-28490.pdf. 

9See https://www.regulations.gov/document/ 

NCUA-2023-0072-0001. 

10See 12 U.S.C. 1755(d). 

11See 12 U.S.C. 1783(a). 

majority of state-chartered credit 

unions. 

As of June 30, 2023, the NCUA is 

responsible for the regulation and 

supervision of 4,686 federally insured 

credit unions, which have 

approximately 137.7 million members 

and more than $2.2 trillion in assets 

across all states and U.S. territories.4

Authority 

Pursuant to the Federal Credit Union 

Act, authority for management of the 

NCUA is vested in the NCUA Board. It 

is the Board’s responsibility to 

determine the resources necessary to 

carry out the NCUA’s responsibilities 

under the Act.5 The Board is authorized 

to expend such funds and perform such 

other functions or acts as it deems 

necessary or appropriate in accordance 

with the rules, regulations, or policies it 

establishes.6

Upon determination of the budgeted 

annual expenses for the agency’s 

operations, the Board determines a fee 

schedule to assess federal credit unions. 

The Board gives consideration to the 

ability of federal credit unions to pay 

such a fee and the necessity of the 

expenses the NCUA will incur in 

carrying out its responsibilities in 

connection with federal credit unions.7

In December 2020, the Board approved 

a final rule with changes to its 

regulation and methodology for 

determining the operating fees due from 

federal credit unions.8 In July 2023, the 

Board requested comments from the 

public about changes to the 

methodology the Board uses to 

determine how it apportions operating 

fees, specifically the exemption 

threshold below which federal credit 

unions would not be required to pay the 

operating fee.9 The Board will consider 

public comments received by the due 

date specified in the Federal Register 

notice, and if the Board decides to 

revise the methodology for computing 

the operating fee, such changes will be 

reflected in future Board 

communications. 

Pursuant to the law, fees collected are 

deposited in the agency’s Operating 

Fund at the Treasury of the United 

States, and those fees are expended by 

the Board to defray the cost of carrying 

out the agency’s operations, including 

the examination and supervision of 

federal credit unions.10 In accordance 

with its authority to use the Share 

Insurance Fund to carry out its 

insurance-related responsibilities, the 

Board approved an Overhead Transfer 

Rate methodology and authorized the 

Office of the Chief Financial Officer to 

transfer resources from the Share 

Insurance Fund to the Operating Fund 

to account for insurance-related 

expenses.11

Mission, Goals, and Strategy 

The proposed budget for 2024–2025 

supports the agency’s third year 

implementing its 2022–2026 Strategic 

Plan. Throughout 2024 and 2025, the 

NCUA will continue fulfilling its 

mission of ‘‘protecting the system of 

cooperative credit and its memberowners through effective chartering, 

supervision, regulation, and insurance.’’ 

The agency’s three strategic goals are: 

1. Ensure a safe, sound, and viable 

system of cooperative credit that 

protects consumers. 

2. Improve the financial well-being of 

individuals and communities through 

access to affordable and equitable 

financial products and services. 

3. Maximize organizational 

performance to enable mission success. 

The NCUA’s strategic plan is the 

foundation for the agency’s performance 

management and resource allocation 

processes. The annual performance plan 

functions as the agency’s operational 

plan for each calendar year. It outlines 

the annual or short-term objectives, 

strategies, and corresponding 

performance goals and activities that 

contribute to the accomplishment of the 

agency’s strategic goals. The NCUA 

budget provides the resources necessary 

for the agency to implement its strategic 

priorities and related programs and 

activities, to identify key challenges 

facing the credit union industry, and to 

leverage agency strengths to help credit 

unions address those challenges. 

Appendix A provides additional 

information about how the budget aligns 

to the NCUA’s strategic goals. 

Federal Compliance Costs 

As a federal agency, the NCUA is 

required to devote significant resources 

to numerous activities required by 

federal law, regulations, or, in some 

cases, Executive Orders. These 

requirements drive how many of the 

agency’s activities are implemented and 

the associated costs. These compliance 

activities affect the level of resources 

needed in areas such as information 

technology acquisitions and 

management, human capital processes, 

financial management processes and 

reporting, privacy compliance, and 

physical and cybersecurity programs. 

Financial Management 

Federal law, regulations, and 

government-wide guidance promulgated 

by the Office of Management and 

Budget (OMB), the Government 

Accountability Office (GAO), and the 

Department of the Treasury place 

numerous requirements on federal 

agencies, including the NCUA, 

regarding the management of public 

funds. Government-wide financial 

management compliance requirements 

address topics such as financial 

statement audits, improper payments, 

prompt payments, internal controls, and 

procurement audits, enterprise risk 

management, strategic planning, and 

public reporting of financial and other 

information. 

Information Technology 

There are numerous laws, regulations, 

and required guidance concerning 

information technology used by the 

federal government. Many of the 

requirements cover information 

technology security, such as the Federal 

Information Security Modernization 

Act. Other requirements cover records 

management, paperwork reduction, 

acquisition, cybersecurity spending, 

accessible technology, and continuity. 

Human Capital and Equal Opportunity 

Like other federal agencies, the NCUA 

is subject to an array of human capitalrelated laws, regulations, and other 

mandatory guidance issued by the 

Office of Personnel Management (OPM), 

the Equal Employment Opportunity 

Commission, and OMB. Human capital 

compliance requirements include 

procedures related to hiring, 

management engagement with public 

unions and collective bargaining, 

employee discipline and removal 

procedures, required training for 

supervisors and employees, employee 

work-life and benefits programs, equal 

employment opportunity and required 

diversity and inclusion programs, and 

storage and retention of human resource 

records. The NCUA is also required by 

law to maintain comparability with 

other federal bank regulatory agencies 

when setting and adjusting the total 

amount of compensation and benefits 

for employees. 

Security 

The NCUA’s security posture is 

driven by numerous legal and regulatory 

requirements covering the full range of 

security functions. The NCUA is 


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75048 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

12NCUA’s composite CAMELS rating consists of 

an assessment of a credit union’s Capital adequacy, 

Asset quality, Management, Earnings, Liquidity 

risk, and Sensitivity to market risk. The CAMELS 

rating system is designed to take into account and 

reflect all significant financial, operational and 

management factors field staff assess in their 

valuation of credit unions’ performance and risk 

profiles. CAMELS ratings range from 1 to 5, with 

1 being the best rating. Credit unions with a 

composite CAMELS rating of 3 exhibit some degree 

of supervisory concern in one or more components. 

CAMELS 4 credit unions generally exhibit unsafe 

or unsound practices, and CAMELS 5 institutions 

demonstrate extremely unsafe or unsound practices 

and conditions. NCUA collectively refers to 

CAMELS 4 and 5 credit unions as ‘‘troubled credit 

unions.’’ 

13See https://ncua.gov/files/agenda-items/ 

strategic-plan-20220317.pdf, page 6. 

required to comply with mandatory 

requirements for personnel security, 

physical security, emergency 

management and continuity, 

communications and information 

security, and insider threat standards. In 

addition to meeting specific legislative 

mandates, as a federal agency the NCUA 

is required to follow guidance from, but 

not limited to, the Office of the Director 

of National Intelligence, the Department 

of Defense, OPM, and the Federal 

Emergency Management Agency. 

Audits and Program Oversight 

The NCUA and its operations are 

subject to review by independent 

auditors. Like any other U.S. employer, 

the NCUA may be audited by the 

Internal Revenue Service for compliance 

with relevant tax laws and regulations. 

Similarly, the NCUA is subject to audit 

for compliance with government-wide 

requirements in areas like records 

management (National Archives and 

Records Administration) and delegated 

personnel authorities (OPM). 

Other oversight audits include the 

NCUA’s financial statement audits, 

which must be conducted for all four of 

its funds on both an operating (calendar 

year) and reporting year (federal fiscal 

year) basis. In addition, to help ensure 

the agency’s cybersecurity, the law 

subjects the NCUA to annual audits of 

its information technology systems and 

data management practices, as specified 

in the Federal Information Security 

Modernization Act. 

The Government Accountability 

Office and the NCUA Office of Inspector 

General (OIG) are statutorily authorized 

to oversee and audit the performance of 

NCUA’s programs in order to identify 

and attempt to prevent waste, fraud, and 

abuse of public resources. Further, and 

in addition to programmatic audits that 

the OIG conducts each year, the NCUA 

OIG formally reviews all material losses 

to the National Credit Union Share 

Insurance Fund. 

Other Compliance Activities 

The NCUA also has other general 

compliance activities that cross 

numerous offices and add to the 

NCUA’s budget. For example, the NCUA 

is also required to comply with the 

Privacy Act, the Freedom of Information 

Act, the Government in the Sunshine 

Act, multiple laws and regulations 

related to government ethics standards, 

and various reporting, training, and 

other requirements set forth by the 

Federal Credit Union Act and other 

statutes. Additionally, the Dodd-Frank 

Wall Street Reform and Consumer 

Protection Act established requirements 

for the NCUA to administer and 

periodically report on various diversityrelated matters at the agency and within 

the credit union system. 

III. Key Themes of the Proposed 2024– 

2025 Budget 

Overview 

The proposed 2024–2025 budget 

includes funding for the NCUA to 

increase staffing in critical areas 

necessary to operate as an effective 

federal financial regulator capable of 

addressing emerging issues and 

responding to changes in economic 

conditions that may impact the credit 

union system. 

The percentage of insured shares in 

credit unions with composite CAMELS 

ratings 1 and 2 has been in decline since 

December 2021.12 Between the reporting 

periods of December 31, 2021, and June 

30, 2023, credit unions with composite 

CAMELS 3 ratings and insured shares 

greater than $500 million increased 

from 15 to 42, and their collective assets 

increased from $11.3 billion to $47.7 

billion—an increase of 322%. 

The NCUA is seeing rising levels of 

interest rate and liquidity risk within 

the system. There has been an increase 

in compliance and fair lending concerns 

as well. There is also the potential for 

increased credit risk, especially among 

families with increasingly stressed 

household budgets and the postpandemic uncertainties in the 

commercial real estate market. These 

risks can play out in rising delinquency 

rates for various loan types, including 

auto loans and credit cards. 

The NCUA must have the necessary 

resources to continue to monitor credit 

union performance and mitigate risks 

through the examination process, offsite 

monitoring, and tailored supervision, 

consistent with its mission. 

The NCUA employees are the 

agency’s most valuable resource for 

achieving its mission, and the agency is 

committed to a workforce with integrity, 

accountability, transparency, 

inclusivity, and proficiency.13 The 

agency will continue investing in its 

workforce through training and 

development, ensuring employees have 

the skills they need to do their work 

effectively. 

The proposed 2024–2025 budget 

includes investments across a range of 

agency priorities, including: 

• Ensuring robust cybersecurity in the 

credit union system and at the agency. 

• Recalibrating examination and 

supervisory oversight over credit unions 

with assets between $10 billion and $15 

billion to reflect risks. 

• Adding new regional specialist 

examiners dedicated to areas of 

emerging complexity and risk within 

the credit union system such as 

electronic payment systems, consumer 

compliance, and Bank Secrecy Act 

(BSA) compliance. 

• Improving financial inclusion and 

access through the NCUA’s Advancing 

Communities through Credit, Education, 

Stability, and Support initiative. 

• Providing program and staff 

resources to increase assistance to small 

credit unions and credit unions 

designated as minority depository 

institutions (MDIs). 

• Right-sizing the NCUA’s 

examination of credit unions’ 

compliance with consumer financial 

protection laws and regulations. 

• Investing in information technology 

systems and infrastructure to bolster the 

agency’s supervisory capabilities. 

The efficiency and effectiveness of the 

agency’s workforce depends upon the 

availability of modern analytical tools 

and the resiliency of the NCUA’s 

information technology systems. The 

NCUA is committed to implementing its 

new technology responsibly and 

delivering secure, reliable, and 

innovative solutions. The investments 

funded in the NCUA’s Capital Budget 

will provide the tools and technology 

the workforce needs to achieve the 

NCUA mission. 

Cybersecurity 

The NCUA’s cybersecurity program 

focuses on two main efforts: supervision 

of credit union cybersecurity programs 

and protection of the agency’s systems, 

assets, data, and mission capabilities. 

Cyberattacks continue to pose 

significant risks to all organizations. 

Because of continued attacks on the 

nation’s financial sector and the broader 

national critical infrastructure, the 

NCUA places credit union cybersecurity 

as a top enterprise and supervisory 

priority. 


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Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75049 

Supervision of Credit Union 

Cybersecurity 

The NCUA engages in interagency 

cybersecurity preparedness as a member 

of the Federal Financial Institutions 

Examination Council (FFIEC) and of the 

Financial and Banking Information 

Infrastructure Committee. The NCUA 

monitors cyber threats identified by 

federal and non-federal sources and 

shares relevant information about them 

with the credit union industry and 

financial sector partners. 

The NCUA maintains a team within 

the Office of Examination and Insurance 

dedicated to developing and 

maintaining supervisory policies, 

procedures, and tools and examiner 

training for cybersecurity. The regions 

and the Office of National Examinations 

and Supervision employ 30 highly 

trained regional information security 

specialists for information security 

examinations and supervision of credit 

unions. 

In 2023, the agency deployed an 

updated information security 

examination program. All credit unions 

will periodically receive an information 

security examination as part of the 

agency’s new Information Security 

Examination Program (ISEP). The ISEP 

uses a risk-focused approach to examine 

credit unions’ information security, 

providing examiners flexibility to focus 

on areas of material current or potential 

risk relevant to each credit union’s 

unique business model. The objectives 

of an information security examination 

include: 

• Evaluating management’s ability to 

recognize, assess, monitor, and manage 

information systems and technologyrelated risks. 

• Assessing whether the credit union 

has sufficient expertise to adequately 

plan, direct, and manage information 

systems and technology operations. 

• Determining whether the board of 

directors has adopted and implemented 

adequate information systems and 

technology-related policies and 

procedures. 

• Evaluating the adequacy of internal 

information systems and technology 

controls and oversight to safeguard 

member information. 

The NCUA built and maintains the 

Automated Cybersecurity Evaluation 

Toolbox (ACET) to help credit unions 

voluntarily assess their level of 

cybersecurity preparedness. The tool 

incorporates appropriate cybersecurity 

standards and practices established for 

financial institutions. The tool maps 

each of its declarative statements to the 

practices found in the FFIEC 

Information Technology Examination 

Handbook, regulatory guidance, and 

leading industry standards like the 

National Institute of Standards and 

Technology’s Cybersecurity Framework. 

The ACET also provides a plainlanguage explanation and references for 

each of the statements included within 

the assessment. 

Enhanced and continuing examiner 

training related to information security 

and evolving cyber risks is planned for 

2024. 

Protection of the Agency’s Information 

and Systems 

The NCUA’s approach to agency 

cybersecurity is based on requirements 

established by federal statute such as 

the Federal Information Security 

Management and Federal Information 

Security Modernization Acts, and 

government-wide policy such as the 

National Institute of Standards and 

Technology’s Cybersecurity Framework, 

and Executive Order 14028, Improving 

the Nation’s Cybersecurity. The 

proposed 2024 budget includes over $20 

million for the cost of compliance with 

and implementation of these 

requirements, of which $4.3 million is 

budgeted for capital investments. It is 

important to note that many government 

cybersecurity requirements are not 

necessarily expected of nongovernmental entities; however, as a 

federal agency the NCUA is obligated to 

carry them out. 

Examination Workforce 

In 2021, a cross-agency working group 

at the NCUA conducted an internal 

review to determine the appropriate 

level of specialist positions required to 

ensure compliance with the Bank 

Secrecy Act (BSA) and consumer 

financial protection laws and 

regulations. The review evaluated 

staffing needs for three potential 

regional specialist groups in the areas of 

electronic payment systems, consumer 

compliance, and the BSA. Unlike other 

specialist areas where credit union asset 

size is a reasonable basis for allocating 

supervisory resources, BSA and 

consumer compliance risks are not 

necessarily concentrated in a particular 

asset group. 

The 2021 review recommended that 

the agency develop BSA and consumer 

compliance specialist programs. The 

proposed 2024 budget supports the 

second phase of this effort by adding 27 

new regional examination staff— 

including specialists and supervisory 

positions. These specialist positions are 

offset by a reduction of general 

examiner positions spread across each 

of the NCUA’s three regions. 

Starting in January 2023, federally 

insured credit unions with less than $15 

billion in total assets generally are 

supervised by the NCUA regional office 

corresponding to their headquarters 

location, while ONES continues 

supervising federally insured credit 

unions with $15 billion or more in total 

assets. Supervising regional large credit 

unions with between $10 billion and 

$15 billion in assets requires additional 

resources for the regions. Therefore, the 

proposed 2024 budget includes the 

equivalent of five additional examiner 

positions to account for the enhanced 

examination and supervision needs for 

these institutions related to size, scale, 

and scope. 

Support for Small Credit Unions and 

Minority Depository Institutions 

Small credit unions with less than 

$100 million in assets and MDIs are 

uniquely positioned to improve 

financial inclusion by offering their 

communities access to safe and 

affordable credit and other services. The 

NCUA’s Small Credit Union and MDI 

Support Program is designed to support 

and preserve these credit unions. This 

program provides dedicated resource 

hours for field staff to conduct this 

important work, and the proposed 2024 

budget continues to support this 

important effort. 

Program assistance focuses on 

identifying available resources, 

providing training and guidance, and 

supporting credit union management in 

their efforts to address operational 

matters. Additional benefits of the 

program are expected to include: 

• Building greater awareness of the 

unique needs of small credit unions and 

MDIs and their role serving underserved 

communities. 

• Expanding opportunities for these 

credit unions to receive support through 

NCUA grants, training, and other 

initiatives. 

• Furthering partnerships with 

organizations and industry mentors that 

can support small credit unions and 

MDIs. 

Fair Lending and Consumer Financial 

Protection 

Fair and equitable access to credit is 

vital to the credit union system and 

members of credit unions. The NCUA 

uses onsite examinations, supervision 

contacts, and data analysis to ensure 

credit unions comply with consumer 

financial protection and fair lending 

laws and regulations. The proposed 

2024 budget includes 13 additional 

regional consumer compliance 

specialists and an increase in 

examination time for consumer 


ddrumheller on DSK120RN23PROD with NOTICES1
75050 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

financial protection reviews equivalent 

to 11 examiners to increase the agency’s 

review of consumer financial protection 

and fair lending laws and regulations, 

especially at institutions with greater 

consumer impact or indications of 

potential violations. 

Financial Inclusion 

Credit unions are an important part of 

the financial services industry and can 

play a key role in helping families 

achieve financial freedom by building 

generational wealth, helping 

entrepreneurs to get their small 

businesses off the ground, and helping 

to create jobs and strengthen 

communities. The NCUA has a role to 

play in making sure that credit unions 

can support overlooked or underserved 

areas. 

The NCUA will build on the work 

done in 2023 to better understand credit 

union challenges and opportunities in 

providing fair and affordable financial 

products to minority, unbanked, and 

underbanked households. The 

Innovation and Access and CURE teams 

plan to use this information to help 

credit unions understand the challenges 

in communities with limited financial 

services and to enhance and facilitate 

the Small Credit Union and MDI 

Support program. The NCUA will 

continue its active engagement with 

credit union industry leaders and 

stakeholders to help new, small, lowincome-designated, and MDI credit 

unions to grow and prosper. 

NCUA Organizational Changes 

The staff draft budget proposes a new 

Office of the Executive Secretary, which 

is a common function in many other 

federal agencies. The new office will 

centralize responsibility for the NCUA’s 

policy review and decision-making 

processes, coordinate the clearance and 

submission of all policy documents to 

the Chairman and the NCUA Board, as 

appropriate, for review and approval, 

and facilitate discussions between the 

NCUA’s program offices to align 

appropriate policies, among other 

things. Policy documents include 

regulations, recommendation memos, 

action memos, briefing memos, 

responses to correspondence, reports to 

Congress, and other policy documents. 

Appendix A includes a separate table 

illustrating the budget for the proposed 

Office of the Executive Secretary. 

IV. Operating Budget 

Overview 

The NCUA Operating Budget provides 

the resources required for the agency to 

conduct activities prescribed by the 

Federal Credit Union Act. These 

mandates include: (1) chartering new 

federal credit unions; (2) approving field 

of membership applications of federal 

credit unions; (3) promulgating 

regulations and providing guidance; (4) 

performing regulatory compliance and 

safety and soundness examinations; (5) 

implementing and administering 

enforcement actions, such as 

prohibition orders, orders to cease and 

desist, orders of conservatorship and 

orders of liquidation; and (6) 

administering the National Credit Union 

Share Insurance Fund. The NCUA must 

also implement mandates required by 

other statutes including those related to 

BSA compliance, consumer financial 

protection, and diversity, equity, and 

inclusion. 

Operating Budget Categories 

There are five major expenditure 

categories in the Operating Budget. This 

section explains how these expenditures 

support the NCUA’s operations and 

presents a transparent overview of the 

Operating Budget. 

Pay and Benefits 

Pay and benefits increase by $26.2 

million in 2024, or 9.8 percent 

compared to 2023, for a total of $293.3 

million. Pay and benefits costs make up 

approximately 76.7 percent of the 

annual NCUA Operating Budget. There 

are four primary drivers of increased 

costs in 2024 for the pay and benefits 

category: 

• Merit and locality pay increases for 

the NCUA’s employees are paid in 

accordance with the agency’s Collective 

Bargaining Agreement (CBA) and its 

merit-based pay system. 

• Contributions for employee 

retirement to the Federal Employee 

Retirement System (FERS), which are 

set by OPM based on actuarial estimates 

and cannot be negotiated or changed by 

the NCUA. The mandatory FERS 

contribution rate increases total NCUA 

benefits costs by 4.9 percent in 2024 

compared to 2023. OPM’s current 

assumptions for actuarial valuation of 

FERS remain unchanged in 2024 but 

remain a significant cost driver for the 

agency’s pay and benefits growth. 

Because the NCUA must contribute 18.4 

percent of employee salaries to the 

retirement fund in 2024, the estimated 

impact on the NCUA budget is an 

increase of approximately $4.0 million 

in mandatory payments. 

• Contributions for employee health 

insurance are also set by OPM and 


ddrumheller on DSK120RN23PROD with NOTICES1EN01NO23.007</GPH>

2024-2025 PROPOSED NCUA OPERATING BUDGET SUMMARY 

20238"rd 2024 Propo$11d 2023,2024 Chant• 2025Pioposed 2024-:1025 Chllllil• Budgiit Co$t Category Approwd 

Budget Budget Change Pemint llirdget Chattglt Peffiillt 

'-""'"'"'"'~'w'""'"'"""'"'"'"'""''" "''"'"'""'"''""" 

l!mplO)lee. 267,101,000 29),260,000 ::m,is9,ooo 9.8% 3(),8, 170,000 14,910,000 5.1% compensatl®. 

hlarl• Hl4,983,QOO ;03;1%,()00 111,213,000 9.11% 214,484,000 ll,2311,000 .'l,6% 

lleliidt$. 1)2,11$;()00 !10,(164,00() 7,.946,000 9.7% 93,6116,000 3;621,000 4,t.1% 

ll'lmll :n,Ol7,0(l(I 22.()~2.000 iS,OOOl 0,()% 23,912,000 1,9()(),000. a .. 6% 

IRtntfComm/Utllltl• 6,2.92,000 7;111,000 .s19;000 1);0% 7,Sll,000 400,00() st,% 

Admlnltlratlve 7,265,000 1,5$5,000 l2MOO, 4,4% 7,710,000 12'5,000 ),6% 

Contlated S.vl~• 41,473,000 Sl,1'.37,000 10,664,000 25.7'11, 71,557,000 19,4~0 31,,!% 

Total $ 344,158,000 $ 382,115,000 31,!151,000' 1'1,ll'lti $ 418,810,000 311,755,000i U'lb 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75051 

14The Federal Credit Union Act states that, ‘‘In 

setting and adjusting the total amount of 

compensation and benefits for employees of the 

Board, the Board shall seek to maintain 

comparability with other federal bank regulatory 

agencies.’’ See 12 U.S.C. 1766(j)(2). 

15 Does not include five positions assigned to the 

Central Liquidity Facility. 

16The 2024–2025 budget reflects NCUA staffing 

levels as positions to simplify the presentation of 

current and proposed employee levels. In past 

years, the NCUA reflected budgeted staffing levels 

as full-time equivalents (FTEs), which is a 

presentation that accounts for vacant positions, 

part-time work, and other variability in employee 

levels. Although the actual number of persons 

employed at the NCUA varies throughout the year, 

using the count of positions is simpler. 

cannot be negotiated or changed by the 

NCUA. This mandatory contribution 

increases total NCUA benefits costs by 

2.1 percent in 2024 compared to 2023. 

The annual OPM estimate for the 2024 

government share of the Federal 

Employees Health Benefits Program 

(FEHBP) premiums is expected to be 

released in October 2023, and the 

budget will be updated if there is any 

material change to estimated FEHBP 

costs. 

• The employee salary and benefits 

category also includes costs associated 

with other mandatory employer 

contributions such as Social Security, 

Medicare, transportation subsidies, 

unemployment, and workers’ 

compensation. The limit on employee 

earnings subject to Social Security taxes 

increased in 2024 and applies to all 

employers in the United States. The 

projected additional employer Social 

Security contributions that result from 

this increase account for approximately 

3 percent of the total adjustment to 

employee salaries. 

Attracting a well-qualified workforce 

requires the agency to pay competitive 

salaries. In 2024, the NCUA’s 

compensation levels will continue to 

‘‘maintain comparability with other 

federal bank regulatory agencies’’ as 

required by the Federal Credit Union 

Act.14 More than 85 percent of the 

NCUA workforce has earned a 

bachelor’s degree or higher, compared to 

approximately 35 percent of the privatesector workforce. 

The pay and benefits budget includes 

all employee pay raises for 2024, such 

as merit and locality increases 

consistent with the CBA in place for 

2023, and those for promotions, 

reassignments, and other changes, as 

described below. Consistent with other 

federal pay systems, the NCUA’s 

compensation includes base pay and 

locality pay components. 

The proposed 2024 Operating Budget 

supports a total agency staffing level of 

1,248 positions.15 This is a net increase 

of 28 positions, or 2.3 percent, 

compared to the agency’s 2023 staffing 

level. The net increase includes 11 new 

positions and incorporates into the 2024 

budget 17 existing positions currently 

unfunded in the 2023 budget. The firstyear cost of the 11 net new positions for 

2024 is estimated to be approximately 

$1.9 million. The cost for 2024 of the 17 

existing positions currently unfunded is 

estimated to be approximately $4.0 

million. 

The proposed 2024–2025 budget 

includes funding for the NCUA to 

increase permanent staffing in critical 

areas necessary to operate more 

effectively and address emerging issues. 

The staffing levels proposed for 2024 

also reflect the resource requirements 

that support the NCUA’s continued 

efforts to ensure its examination 

processes keep pace with the growing 

scale and complexity of the credit union 

system while the agency enhances the 

efficiency and effectiveness of its 

supervisory efforts. 

The chart illustrates the NCUA’s 

staffing levels in recent years.16

Note: Total NCUA staffing excludes 

positions funded by the CLF. 

The proposed changes for the NCUA’s 

2024 staffing level include: 

• Adding 27 specialist examiner and 

specialist supervisor positions to the 

NCUA regional staff, 20 of which the 


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NCUA Staffing (Positions} 

1,300 

1 

1,000. 

1,266 

1,248 1,251 

2015 2016 .2017 2018 2019 2020 2021 2022 2023 2024 .2025 

■ Approved NCUA Staffing Proposed NCUA Staffing 
75052 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

17Starting in January 2023, federally insured 

credit unions with less than $15 billion in total 

assets generally are supervised by the NCUA region 

corresponding to the location where they are 

chartered, while the Office of National 

Examinations and Supervision (ONES) continues 

supervising federally insured credit unions with 

$15 billion or more in total assets. 

NCUA Board approved as part of the 

2023–2024 budget and an additional 

seven related to enhanced consumer 

financial protection examinations. The 

number of large, complex credit unions 

continues to increase through mergers 

and membership growth, which 

necessitates a broader array of experts in 

the field to support the examination and 

supervision of these institutions. 

• Reducing the number of generalist 

examiners by a net of 22 positions 

across the NCUA’s three regional 

offices. This adjustment includes an 

increase to examination and supervision 

time that is the equivalent of five 

examiner positions for the regional 

workload associated with overseeing 

credit unions with between $10 billion 

and $15 billion in assets.17

• Creating a new Office of the 

Executive Secretary with two dedicated 

staff positions authorized for 2024 and 

a third position for 2025. This office 

will centralize responsibility for 

coordinating the review of documents, 

related decision-making processes, and 

the clearance and submission of all 

documents to the NCUA Board 

members, as appropriate. 

• Increasing the staff in the Office of 

the Ombudsman by one position. The 

Office of the Ombudsman was created 

as a separate office by the NCUA Board 

in the 2023 budget and an additional 

Associate Ombudsman position was 

approved for 2024 in that document. 

• Adding two Deputy Director 

positions: one in the Office of Business 

Innovation and one in the Office of the 

Chief Ethics Counsel. 

• Adding one new writer-editor 

position in the Office of External Affairs 

and Communications. 

• Funding 17 positions previously 

unfunded but authorized within the 

total NCUA staffing plan. These 

positions include: four in the Office of 

National Examinations and Supervision, 

three in the Office of Examination and 

Insurance, two in the Office of Business 

Innovation, two in the Office of Credit 

Union Resources and Expansion, two in 

the Office of Human Resources, one in 

the Office of the Chief Financial Officer, 

one in the Office of the Chief 

Information Officer, one in the Office of 

Consumer Financial Protection, and one 

in AMAC. 

The proposed 2025 budget for pay 

and benefits is estimated at $308.2 

million, a $14.9 million increase from 

the 2024 level. Included within this 

total is the full-year cost impact of new 

positions proposed for 2024 

(approximately $0.8 million), $0.2 

million for three new positions (one in 

the Office of the Executive Secretary, 

one in the Office of General Counsel, 

and one in the Office of Continuity and 

Security Management), the estimated 

merit and locality pay increases 

consistent with the recent pay inflation 

(approximately $10.6 million), and 

associated increases in benefits for all 

employees (approximately $3.3 million). 

Travel 

The proposed travel budget decreases 

slightly by $5,000 in 2024 when 

compared to 2023, for a total of $22.0 

million. The travel cost category 

includes expenses for employees’ 

airfare, lodging, meals, auto rentals, 

reimbursements for privately owned 

vehicle usage, and other travel-related 

expenses. These are necessary expenses 

for examiners’ onsite work in credit 

unions. Close to two-thirds of the 

NCUA’s workforce is comprised of field 

staff who spend part of their time 

traveling to conduct the examination 

and supervision program. The NCUA 

staff also travel for routine and 

specialized training and other work 

assignments. In 2024, the NCUA expects 

its staff will participate in a 

combination of in-person and virtual 

training to help control travel expenses. 

During the COVID–19 pandemic, the 

agency and its employees transitioned 

to an offsite examination posture, 

developing new procedures and 

processes to continue examination and 

supervisory work. In 2024, the NCUA 

continues the process of conducting 

portions of examinations offsite, which 

is expected to constrain the growth of 

future travel budgets. Despite significant 

inflationary cost growth in travel-related 

expenses such as hotel charges, airfares, 

and car rentals, the 2024 budget for 

travel does not grow compared to the 

2023 level, given a lower frequency of 

travel with more work being conducted 

virtually compared to pre-pandemic 

levels. 

The proposed 2025 budget for travel 

is estimated to be $23.9 million, or an 

8.6 percent increase compared to the 

2024 level. This budget level reflects an 

expectation for modest travel-related 

cost inflation and travel to support a 

national training conference planned for 

2025. 

Rent, Communications, and Utilities 

The proposed budget for rent, 

communications, and utilities increases 

by $0.8 million in 2024, or 13 percent 

compared to 2023, for a budget of $7.1 

million. The 2024 increase is driven 

almost entirely by the costs required to 

stand up new disaster recovery and 

continuity of operations sites because 

the previous location for these required 

functions will be decommissioned at the 

end of 2023. 

Funding in this budget category pays 

for facilities costs, telecommunications 

services, data storage, and information 

technology network support. 

Telecommunications charges include 

leased data lines, domestic and 

international voice lines (including 

mobile), and other network charges. 

Telecommunications costs also include 

the circuits and any associated usage 

fees for providing voice or data 

telecommunications service between 

data centers, office locations, the 

internet, and any customer, supplier, or 

partner. 

The rent, communications, and 

utilities budget category also finances 

the cost of the office utilities, meeting 

space rental for offsite events, and 

postage expenses. Lease costs for the 

Southern and Western Region office 

buildings are included in this category, 

and the total for both of these leases is 

approximately $1.3 million in 2024. The 

annual utility costs for the headquarters 

and regional offices are estimated at 

$461,000 for 2024. 

The proposed 2025 budget for the 

rent, communications, and utilities 

category is $7.5 million, or a 5.6 percent 

increase compared to 2024. 

Administrative Expenses 

Administrative expenses a proposed 

increase of $0.3 million in 2024, or 4.4 

percent compared to 2023, for a budget 

of $7.6 million. The increase to the 

administrative expenses budget category 

largely results from inflationary cost 

increases for supplies, materials, 

printing, and subscription expenses 

expected in 2024. 

Recurring costs in the administrative 

expenses category include the annual 

reimbursements to the FFIEC, employee 

relocation expenses, recruitment and 

advertising expenses, shipping, 

printing, subscriptions, examiner 

training and meeting supplies, office 

furniture, and employee supplies and 

materials. As part of the FFIEC, the 

NCUA shares in costs for certain joint 

actions and services that affect the 

financial services industry. The 

proposed 2024 draft budget includes an 

estimated increase of $340,000 to the 

FFIEC annual reimbursement. Any 

revisions to this initial estimated budget 

will be included in the NCUA’s final 

2024 budget. 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75053 

18The total budget for Contracted Services in 

2024 before offsets of prior year unspent funds is 

estimated to be $70.1 million. 

Within administrative expenses, the 

proposed 2024 budget includes $1.3 

million for employee relocations, which 

is consistent with the 2023 funding 

levels. Relocation costs are paid by the 

NCUA to employees who are 

competitively selected for a promotion 

or new job within the agency in a 

different geographic area than where 

they live. 

The proposed 2025 budget for 

administrative expenses is $7.7 million, 

or a 1.6 percent increase from the level 

proposed in the 2024 budget. 

Contracted Services 

The proposed budget for contracted 

services increases by $10.7 million in 

2024, or 25.7 percent compared to 2023, 

for a total budget of $52.1 million.18

This increase reflects a combination of 

inflationary pressures on the cost of 

contracted services and additional 

initiatives described in more detail later 

in this document. 

Contracted services funding pays for 

products and services acquired in the 

commercial marketplace and includes 

critical mission support services such as 

information technology hardware and 

software support, accounting and 

auditing services, and specialized 

subject matter expertise. The majority of 

funding in the contracted services 

category supports the NCUA’s 

supervision framework, including tools 

used to identify and address risk 

concerns such as interest rate risk, 

credit risk, and industry concentration 

risk. Further, funding within contracted 

services is used to address new and 

evolving operational risks such as 

cybersecurity threats. 

Acquiring specific expertise or 

services from contract providers is often 

the most cost-effective way for the 

NCUA to accomplish its mission. Such 

services include critical mission support 

such as information technology 

equipment and software development, 

accounting and auditing services, and 

specialized subject matter expertise that 

enable staff to focus on executing core 

mission requirements. 

Growth in the contracted services 

budget category results primarily from 

new operations and maintenance costs 

associated with capital investments. 

Other costs include core agency 

business operation systems such as 

accounting and payroll processing, and 

various recurring costs, as described in 

the following seven major categories: 

• Information Technology Operations 

and Maintenance (48.1 percent of 

contracted services) 

Æ Information technology network 

support services and help desk support 

Æ Contractor program and web 

support and network and equipment 

maintenance services 

Æ Administration of software 

products such as Microsoft Office, 

SharePoint, and audio-visual services 

• Administrative Support and Other 

Services (16.7 percent of contracted 

services) 

Æ Examination and supervision 

program support 

Æ Technical support for examination 

and cybersecurity training programs 

Æ Equipment maintenance services 

Æ Legal services and other expert 

consulting support 

Æ Other administrative mission 

support services for the NCUA central 

office 

• Information Technology Security 

(15.0 percent of contracted services) 

Æ Enhanced secure data storage and 

operations 

Æ Information security programs 

Æ Security system assessment 

services 

• Accounting, Procurement, Payroll, 

and Human Resources Systems (6.5 

percent of contracted services) 

Æ Accounting and procurement 

systems and support 

Æ Human resources, payroll, and 

employee services 

Æ Equal employment opportunity and 

diversity programs 

• Training (5.3 percent of contracted 

services) 

Æ Technical and specialized training 

and professional development for staff 

• Building Operations, Maintenance, 

and Security (4.8 percent of contracted 

services) 

Æ Headquarters facility operations 

and maintenance 

Æ Building security and continuity 

programs 

Æ Personnel security and 

administrative programs 

• Audit and Financial Management 

Support (3.5 percent of contracted 

services) 

Æ Annual audit support services 

Æ Material loss reviews 

Æ Investigation support services 

Æ Financial management support 

services 

In addition, the Office of the Chief 

Financial Officer projects that the 

agency will have a smaller surplus at 

the end of 2023 than in past years. Since 

2021, the NCUA has used unspent 

budget amounts from previous years to 

reduce its budget levels in the following 

year. Of the total $10.7 million increase 

in contracted services for 2024, 

approximately $5.0 million of the 

increase results from a lower surplus 

projection than the amount assumed for 

2023. The NCUA estimates that the 

agency will end 2023 having underspent 

the Board-approved budgets (current 

and prior years) by approximately $18.0 

million. The proposed 2024 budget uses 

the $18.0 million projected surplus to 

offset the costs of planned contracted 

services spending in 2024, reducing the 

agency’s overall 2024 budget by the 

same amount. Therefore, the total 

planned amount for contracted services 

in 2024 is approximately $70.1 million, 

an increase of $5.5 million, or 8.4 

percent compared to the total 2023 

spending level. 

The following pie chart illustrates the 

breakout of the seven categories for the 

total proposed 2024 contracted services 

budget of $70.1 million, of which $18.0 

million is funded from prior year 

available balances. 


ddrumheller on DSK120RN23PROD with NOTICES1
75054 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

Note: Minor rounding differences may 

occur in totals. 

Major programs within the contracted 

services category include: 

• Training requirements for the 

examiner workforce. The NCUA’s most 

important resource is its highly 

educated, experienced, and skilled 

workforce. It is important that staff have 

the proper knowledge, skills, and 

abilities to perform assigned duties and 

meet emerging needs. Each year, 

examiners complete a wide range of 

training classes to ensure their skills 

and industry knowledge are kept up to 

date, including in core areas such as 

capital markets, consumer compliance, 

and specialized lending. Major training 

deliverables for 2024 include examiner 

training development, including subject 

matter expert conferences, and a 

planned leadership forum for all the 

NCUA’s executives and managers. The 

NCUA continues to control training 

costs with a blended schedule of both 

in-person and virtual sessions. 

Contracted service providers, in 

partnership with the NCUA subject 

matter experts, will develop and design 

training classes for examiners and 

continue the ongoing review of the 

NCUA’s examiner course curriculum. In 

addition, the NCUA partners with OPM 

to develop and certify principal 

examiner assessments that reflect 

current regulations and examination 

processes. The NCUA’s Learning 

Management System will continue to be 

updated to include a Career Resource 

Center. Additionally, contracted service 

providers and central office staff will 

continue providing organizational 

development, leadership development 

programs, and teambuilding training. 

• Information security program. This 

NCUA program supports ongoing efforts 

to strengthen the agency’s cybersecurity 

and ensure its compliance with the 

Federal Information Security 

Modernization Act and other standards 

for federal agencies. 

• Agency financial management 

services, human resources technology 

support, and payroll services. The 

NCUA contracts for these back-office 

support services with the U.S. 

Department of Transportation’s 

Enterprise Service Center (DOT/ESC) 

and the General Services 

Administration. The NCUA’s human 

resource system, HR Links, also adopted 

by other federal agencies, is a shared 

solution that automates routine human 

resource tasks and improves time and 

attendance functionality. 

• Audit. The NCUA’s OIG contracts 

with an accounting firm to conduct the 

annual audit of the agency’s four 

permanent funds. The results of these 

audits are posted annually on the NCUA 

website and are included as part of the 

agency’s Annual Report. 

A significant share of the budget for 

contracted services finances ongoing 

information technology infrastructure 

support for the agency. The 2024 budget 

includes the fourth year of funding for 

operations and maintenance of the 

MERIT system, which replaced the 

legacy Automated Integrated Regulatory 

Examination System (AIRES) in 2021. 

Several of the NCUA’s other core 

information technology systems and 

processes also require additional 

contract support in 2024, which results 

in increased costs for contracted 

services, as described below. 

Within the budget for the Office of 

Chief Information Officer, an additional 

$3.5 million compared to the 2023 

budget level is required for: 

• Cybersecurity capabilities and 

implementing the provisions of 

Executive Order 14028, Improving the 

Nation’s Cybersecurity. 

• Information technology 

infrastructure services and operations 

and maintenance labor support for the 

new MERIT system and NCUA legacy 

systems. 

• Application tools that support the 

new MERIT system and other mission 

critical and business applications. 

Within the Office of Human 

Resources, the contracted services 

budget increases by $1.3 million 

compared to the 2023 budget level, 

primarily for additional resources to 

support the reasonable accommodation 

needs and services for current and 

potential new employees. 

The Office of Minority and Women 

Inclusion’s (OMWI) contract budget 

increases by $258,000 compared to the 

2023 budget level. In 2024, these 

increased funds will support 

development of a survey administered 

by a third-party for credit unions to selfassess their current diversity and 

inclusion practices. 

Within the Office of Business 

Innovation, the contracted services 

budget increases by $208,078 compared 


ddrumheller on DSK120RN23PROD with NOTICES1EN01NO23.009</GPH>

2024 Proposed Contracted Services Budget by Category 

·aultdfngQperatlbnt 

Maln~.ria~5~ and 

Security .• _....__._,.; ....... --

4.8% 

- toformation 

Te¢btiplqgy 

'"'-• QpErationsand 

Mairit~ance 

4&1% 

AccQiUflting~. Procurement, 

P~yroll;,111tt•Hfl Syst~~ and Services 

65% 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75055 

to the 2023 budget level. These funds 

will provide contract support for the 

agency’s information system security 

processes and fund a survey 

administered by a third party about 

credit unions’ examination experiences. 

The Asset Management Assistance 

Center’s contracted services budget 

increases by $149,000 compared to the 

2023 budget level. These funds will 

support the development of tools to 

automate various business processes 

and connect AMAC data with systems. 

Within the Office of General Counsel, 

the contracted services budget increases 

by $65,000 compared to the 2023 budget 

level. The increase will support market 

research in 2024 for an appropriate eDiscovery solution to ensure the agency 

sufficiently meets its legal obligations to 

respond to electronic discovery 

requests. 

The proposed contracted services 

budget for 2025 is $71.6 million. 

Excluding the $18.0 million carryover in 

2024, this is a net increase of $1.4 

million, or approximately 2.0 percent. 

V. Capital Budget 

Overview 

Annually, the NCUA carries out a 

rigorous review process to identify the 

agency’s needs for information 

technology, facility improvements and 

repairs, and other multi-year capital 

investments. The NCUA staff review the 

agency’s inventory of information 

technology systems, information 

technology hardware, and owned 

facilities and equipment to determine 

what requires repair, major renovation, 

or replacement. The staff then make 

recommendations for prioritized 

investments to the NCUA Board. 

The proposed 2024 Capital Budget is 

$7.3 million. The Capital Budget funds 

the NCUA’s long-term investments. The 

2024 Capital Budget provides $6.8 

million for information technology 

development projects and investments 

and $477,000 for central office building 

minor construction and maintenance 

projects. 

Information technology systems and 

hardware require significant capital 

expenditures for modern organizations. 

The 2024 Capital Budget’s highest 

priorities include continuing 

investments to bolster the NCUA’s 

cybersecurity posture and enable the 

agency to comply with Executive Order 

14028 along with enhancements to the 

MERIT platform. 

The budget also supports ongoing 

efforts to modernize the NCUA’s 

information technology infrastructure 

and applications through the 

Information Technology Infrastructure, 

Platform and Security Refresh project, 

and makes investments to improve the 

agency’s management and analysis of 

data through the Data Collection and 

Sharing Solution project. Finally, the 

2024 Capital Budget supports two multiyear projects: one to develop a 

personnel security system in 

compliance with the Trusted Workforce 

2.0 directive from the Office of the 

Director of National Intelligence and 

OPM and another to use technology to 

streamline and automate NCUA 

processes for reviewing field of 

membership and new charter requests 

from credit unions and organizing 

groups. 

Routine repairs and lifecycle-driven 

property renovations are also necessary 

to properly maintain investments in the 

NCUA-owned properties. Each year the 

NCUA assesses the physical condition 

of the agency’s properties to determine 

the need for essential repairs, 

replacement of building systems that 

have reached the end of their 

engineered lives, or renovations 

required to support changes in the 

agency’s organizational structure or 

address revisions to building standards 

and codes. The 2024 Capital Budget 

includes funding for the costs associated 

with routine repairs, maintenance, and 

lifecycle-driven property renovations for 

the agency’s Alexandria headquarters. 

Following an assessment and 

recommendations presented to the 

Board, a decision was made to sell the 

NCUA-owned office building in Austin. 

Because the specific schedule for selling 

the building is still to be determined, 

proceeds from this transaction are not 

factored into the 2024 budget. 

Detailed descriptions of all proposed 

2024 capital projects, including a 

discussion of how each project helps the 

agency achieve its goals and objectives, 

are provided in Appendix B. 

Summary of Capital Projects 

Executive Order on Improving the 

Nation’s Cybersecurity ($2.4 Million) 

The purpose of this capital 

investment is to ensure the NCUA 

complies with Executive Order 14028, 

Improving the Nation’s Cybersecurity. 

The project will ensure the NCUA 

achieves and maintains various 

capabilities, including use of multifactor authentication, a zero-trust 

architecture, and cloud-based compute 

and storage resources. 

Information Technology Infrastructure, 

Platform, and Security Refresh ($1.3 

Million) 

This capital project will replace 

outdated or end-of-life network and 

platform hardware, as well as continue 

efforts to prepare the NCUA for cloud 

computing adoption. This investment 

helps ensure business continuity and 

efficient operations by improving 

system availability and stability. 

Proposed projects for 2024 include 

refreshing hardware and software, and 

the acquisition costs associated with the 

agency’s new disaster recovery site. 

CURE Process Automation ($1.1 

Million) 

This capital investment supports the 

development of initial requirements and 

scoping to design an external facing 

portal for credit unions and organizing 

groups to submit their field of 

membership and new charter requests. 


ddrumheller on DSK120RN23PROD with NOTICES1EN01NO23.010</GPH>

Ch11nge I• 2025 Prcipoftd Ch,111111 Perant 

1202!1•202111 lludg• • (2024-2c>25} 

Information bic.hnolog:, $ 10,304,000 $ 6,780,000 $ {3;$24,000) -34,2% $ 9,520,000 $ 2,740,000 4CM% lnlllfllllllnt:I 

Capital building 

Improvements and $ ·972,000 $ 477,000 $ {495,000) ·50,9% $ 480,000 $ 3,000 O,l!i'II> 

rep,1ln 

Total $ 11,276,000 $ 7,25.7,000 $ 14,019,000) •iH,6'11> $ 111~,ooo $ 2,741.,000 37.8%, --~~~-- --
75056 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

19 Direct costs do not include any costs that are 

shared with the Operating Fund through the 

Overhead Transfer Rate, and with payments 

available upon requisition by the Board, without 

fiscal year limitation, for insurance under section 

1787 of this title, and for providing assistance and 

making expenditures under section 1788 of this title 

in connection with the liquidation or threatened 

liquidation of insured credit unions as it may 

determine to be proper. 

Onboarding/Offboarding Solution and 

Personnel Security Case Management 

System ($0.6 Million) 

The purpose of this project is to 

develop a new personnel security 

management system for NCUA in 

compliance with the Trusted Workforce 

2.0 directive promulgated by the Office 

of the Director of National Intelligence 

(ODNI) and OPM. This new system will 

centralize personnel security case 

management and serve as a repository 

for agencywide onboarding/offboarding 

actions. 

Examination and Supervision Solution/ 

MERIT Enhancements ($0.5 Million) 

Investments in the MERIT platform in 

2024 will enhance data processing 

capacity, improve user efficiency and 

productivity, and automate data import 

and error checking processes. Capital 

investments will support MERIT 

improvements that will allow examiners 

to import data from the Information 

Security Examination (ISE) Toolbox, 

provide a centralized mechanism for 

regional and central office staff to track 

and access credit union administrative 

action records, and automate the 

process for state supervisory authority/ 

credit union access requests. 

Microsoft Power Platform ($0.5 Million) 

This capital investment will support 

NCUA adoption of the Microsoft Power 

Platform (MPP) line of business 

intelligence and process automation 

tools. The budget funds the acquisition 

of professional services to assist in 

developing a governance plan to 

monitor and manage the usage of MPP 

tools across the NCUA while providing 

enhanced internal agency customer 

support. 

Data Collection and Sharing Solution 

($0.2 Million) 

This multi-year project will assist 

NCUA examination staff by streamlining 

business process related to case, 

document, and content management to 

improve efficiency and decrease data 

entry errors. During 2023, a prototype 

was developed that automated current 

business workflows and streamlined 

data collection and sharing. The 

proposed 2024 Capital Budget supports 

pilot testing of the prototype among a 

subset of offices, integrating lessons 

learned into refined business 

requirements, drafting user guides and 

training materials, and conducting 

training for end users. 

NCUA Website Development ($0.1 

Million) 

This project provides for ongoing 

improvements to the NCUA’s websites, 

such as an improved user experience 

and general maintenance needs. In 

addition, the NCUA will develop a 

gated content solution for specific 

audiences to provide a level of privacy 

and security for accessing information, 

such as conference materials, by 

requiring a login and password similar 

to other remote and virtual conference 

systems. 

Headquarters Building Minor 

Construction and Maintenance Projects 

($0.5 Million) 

The proposed 2024 budget supports 

the NCUA’s multi-year headquarters 

building improvement plan that 

identifies projects that can be completed 

incrementally, prioritizing the 

replacement of health and safety 

infrastructure such as the fire 

suppression system. The building is 30 

years old, and many original 

components require replacement. The 

ongoing multi-year approach recognizes 

the critical building management and 

maintenance needs while reducing the 

potential budgetary impact of such 

projects in a single budget year. 

VI. Share Insurance Fund 

Administrative Expenses Budget 

Overview 

The Share Insurance Fund 

Administrative Expenses Budget funds 

direct costs associated with authorized 

Share Insurance Fund activities.19

Direct costs to the Share Insurance Fund 

include items such as data subscriptions 

and technology tools for ONES’ analysis 

of large credit unions, travel for state 

examiners attending NCUA-sponsored 

training, and audit support for the Share 

Insurance Fund’s financial statements. 

Beginning in 2023, the NCUA Board 

approved certain insurance-related 

expenses for AMAC operations as part 

of the Share Insurance Fund 

Administrative Budget. 

The Share Insurance Fund 

Administrative Expenses Budget also 

pays for costs associated with the 

corporate resolution program and 

related NCUA Guaranteed Notes (NGN) 

program. On June 14, 2021, the last 

outstanding NGN Trust matured. Given 

the significantly reduced size of the 

legacy asset portfolio in the corporate 

asset management estates, the proposed 

2024 budget for the corporate resolution 

program continues to decrease 

compared to the 2023 funding levels. 

Budget Requirements and Description 

The proposed 2024 Share Insurance 

Fund Administrative Expenses Budget 

is $5.1 million, which is $0.2 million, or 

3.6 percent, higher than 2023. 

The proposed 2024 budget increase is 

primarily driven by an increase in 

projected costs for contracts needed to 

support the analysis of large credit 

unions, costs of AMAC activities, and 

inflationary growth in the cost of audit 

support. The proposed 2024 Share 

Insurance Fund Administrative 

Expenses Budget includes: 

• $2.2 million for operating and 

maintenance costs of the Asset and 

Liabilities Management system, which 

allows the NCUA to build internal 

analytical capabilities to conduct 

supervisory stress testing analyses and 

to perform other quantitative risk 

assessments of large credit unions. 

• $0.3 million for certain insurancerelated activities and expenses of 

AMAC, such as consulting expenses 

necessary to avoid or attempt to prevent 

a liquidation or conservatorship and 

staff travel for consultation on complex 

or problem cases. 

• $1.0 million for state examiner 

travel to NCUA-sponsored training 

classes and $0.2 million to ensure that 

state supervisory authorities can 

securely and efficiently access NCUA 

applications and the NCUA’s MERIT 

system for state examination and 

supervision activities. The 2023 budget 

included similar amounts for these 

activities. 

• $0.9 million for financial reporting, 

including the annual financial audit and 

for contractor support to ensure 

effective internal controls for the fund. 

• $0.3 million for corporate 

resolution program legacy asset 

waterfall models and $0.1 million for 

valuation analysis support and data. 

These budget items decreased by 59.2 

percent from 2022 to 2023. As the 

remaining legacy assets are sold and the 

program comes to a close, the associated 

budget continues to decrease and falls 

by 31.7 percent from 2023 to 2024. 

BILLING CODE 7535–01–P 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75057 

BILLING CODE 7535–01–C 

The proposed 2025 budget supports 

similar workload and resources for the 

Share Insurance Fund, which at $4.7 

million is $0.4 million lower than the 

proposed 2024 level. With the 

anticipated wind-down of the program 

in 2024 (subject to the status of ongoing 

litigation), there is no corporate 


ddrumheller on DSK120RN23PROD with NOTICES1EN01NO23.011</GPH> EN01NO23.012</GPH>

Financial Statement 

Reporting 

18% 

Corporate Resolution 

Program 

8% 

AMAC Operations ----

6% 

:rru 

State Examiner Training 

Stalf travel 101 problt-tn caSP.$ 

Si,ibtotal, Traw•I (SIF DINct&panu1) 

Admh1,t5t1at111• l;~MnMs 

Analyttcloots for t.afg♦ Cr«m Unions 

Shipping and MiSOtll~n«>IJ$ Admln 

S•btotltl Adml11l1t,.tlft fqMm• !51F Dlr«t bpens•) 

~~ 

Analytic Tools fm LargeO<esdit Unions 

F immcial Accrn.mtlng, Audit suppo, I, Bank Charges and 

Other Suppc,1 t 

SSA costs for MERIT 

Corp. Resolution Study(2022),i;,gill,01he1 contracts 

Subtotal, Co11lracted S<>!'vlc_,. {SIF Dlr<d ExpMs..s) 

Total, SIF Direct El!p;!nses 

~~~II.~ 

Personnel Compensation 

Travel 

&lm!llllk.ll~. 

Sohwani and Data .SubKriptiClli 

Cootl'Ktld Smlas 

Valuatloh Sa-vices, Contract Support, Training 

Total, eorpo ... te 11esorut1on l'l'or,,-111 

Total SIFAd11'11111lstlatlveEJq1enffS Budget 

202ll3oard 

Approved 

Budget 

994,000 

15,0()() 

30,000 

48,000 

7$,000 

2,025,000 

897,000 

216,000 

1?9,000 

l,267,000 

4,354,000 

4-0:;i;ooo 

200,000 

ffl,000 

$ 4,956,000 $ 

2024 Change Proposed 

Budget !21123-2024) 

1,015,000 21,000 

1$,0()0 • 

86,000 

6.000 

92,000 

130,000 

28,000 

HJ0,000 

258,000 

4,725,000. 311,000 

311.000 l!>l,0001 

too,OOil, (100,000) 

411,000 {t!l1,000). 

s,,M,ooo 1 $ 180,000 

Analytic Tools for 

Large Credit Unions 

44% 

SSA Examiner Travel 

and Other Support 

24% 

Change Percent 2025 Proposed 

(20:23~2024! Budget 

286.7'16 116,000 

1U% 54,000 

117.9% 170,000 

6.4% 2.,lSS,000 

3.Hi> 925,000 

(l.0% 216,000 l 

77.S'lla ,29,000 

7.9'11, 3,525,000 

8.S'l!> 4,725,000 I 

o.~ 

0.()% 

·22.l'i%. 

·SCl.O~ 

·J1,7'!6 

3.6% $ 4,725,ooi:.I 
75058 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

20Some costs are directly charged to the Share 

Insurance Fund when appropriate to do so. For 

example, costs for training and equipment provided 

to State Supervisory Authorities are directly 

charged to the Share Insurance Fund. 21 12 U.S.C. 1783(a). 22 12 U.S.C. 1766(j)(3). Other sources of income 

for the Operating Budget have included interest 

income, funds from publication sales, parking fee 

income, and rental income. 

23https://www.gao.gov/products/b-1640314-31. 

24Annual Operating Fees must ‘‘be determined 

according to a schedule, or schedules, or other 

method determined by the NCUA Board to be 

appropriate, which gives due consideration to the 

expenses of the [NCUA] in carrying out its 

responsibilities under the [Act] and to the ability of 

[federal credit unions] to pay the fee.’’ 12 U.S.C. 

1755(b). 

25 12 U.S.C. 1783(a). 

26The Act in 12 U.S.C. 1755(a) states, ‘‘[i]n 

accordance with rules prescribed by the Board, each 

[federal credit union] shall pay to the [NCUA] an 

annual operating fee which may be composed of 

one or more charges identified as to the function or 

functions for which assessed.’’ See also 12 U.S.C. 

1766(j)(3). 

27The Exam Flexibility Initiative started with the 

January 1, 2017, examination cycle, and it allows 

for extended examination cycles for eligible credit 

unions. Letters to Credit Unions 16–CU–12, 

December 2016. 

28On November 16, 2017, the NCUA Board 

adopted a new methodology for calculating the 

Overhead Transfer Rate starting with the 2018 

Overhead Transfer Rate. 82 FR 55644, November 

22, 2017. 

29 82 FR 55644 (Nov. 22, 2017). 

30https://www.federalregister.gov/documents/ 

2020/08/31/2020-17009/request-for-commentregarding-national-credit-union-administrationoverhead-transfer-rate. 

31https://www.federalregister.gov/documents/ 

2020/12/28/2020-28487/overhead-transfer-ratemethodology-and-operating-fee-schedulemethodology. 

resolution budget planned for 2025 at 

this time. 

VII. Financing the NCUA’s Programs 

Overview 

The NCUA incurs various expenses to 

achieve its statutory mission, including 

those involved in examining and 

supervising federally insured credit 

unions. The NCUA Board adopts an 

Operating Budget, a Capital Budget, and 

a Share Insurance Fund Administrative 

Expenses Budget each year to fund the 

majority of the costs to operate the 

agency.20 When formulating the annual 

budget, the NCUA is mindful that its 

funding comes from credit unions and 

strives to operate in an efficient, 

effective, transparent, and fully 

accountable manner. 

The Federal Credit Union Act 

authorizes two primary sources to fund 

the Operating Budget: 

1. Requisitions from the Share 

Insurance Fund ‘‘for such 

administrative and other expenses 

incurred in carrying out the purposes of 

[Title II of the Act] as [the Board] may 

determine to be proper,’’ 21 and 

2. ‘‘[F]ees and assessments (including 

income earned on insurance deposits) 

levied on insured credit unions under 

[the Act].’’ 22 Among the fees levied 

under the Act are annual Operating 

Fees, which are required for federal 

credit unions under 12 U.S.C. 1755 

‘‘and may be expended by the Board to 

defray the expenses incurred in carrying 

out the provisions of [the Act,] 

including the examination and 

supervision of [federal credit unions].’’ 

Taken together, these authorities 

effectively require the Board to 

determine which expenses are 

appropriately paid from each source 

while giving the Board broad discretion 

in allocating expenses. 

In 1972, the Government 

Accountability Office recommended the 

NCUA adopt a method for allocating 

Operating Budget costs — that is, the 

portion of the NCUA’s budget funded by 

requisitions from the Share Insurance 

Fund and the portion covered by 

Operating Fees paid by federal credit 

unions.23 The NCUA has since used an 

allocation methodology known as the 

Overhead Transfer Rate (OTR) to 

determine how much of the Operating 

Budget to fund with a requisition from 

the Share Insurance Fund. 

The NCUA uses the OTR 

methodology to allocate agency 

expenses between these two primary 

funding sources. Specifically, the OTR 

is the formula the NCUA uses to allocate 

insurance-related expenses to the Share 

Insurance Fund under Title II of the Act. 

Almost all other operating expenses are 

funded through collecting annual 

Operating Fees paid by federal credit 

unions.24

Two statutory provisions directly 

limit the Board’s discretion with respect 

to Share Insurance Fund requisitions for 

the NCUA’s Operating Budget and, 

hence, the OTR. First, expenses funded 

from the Share Insurance Fund must 

carry out the purposes of Title II of the 

Act, which relate to share insurance.25

Second, the NCUA may not fund its 

entire Operating Budget through charges 

to the Share Insurance Fund.26

The NCUA conducts a comprehensive 

workload analysis annually. This 

analysis estimates the amount of time 

necessary to conduct examinations and 

supervise federally insured credit 

unions in order to carry out the NCUA’s 

dual mission as insurer and regulator. 

This analysis starts with a field-level 

review of every federally insured credit 

union to estimate the number of 

workload hours needed for the year. 

These estimates are informed by the 

overall parameters of the NCUA’s 

examination program, as most recently 

updated by the Exam Flexibility 

Initiative approved by the Board.27 The 

workload estimates are then refined by 

regional managers and submitted to the 

NCUA headquarters for the annual 

budget proposal. The OTR methodology 

accounts for the costs of the NCUA, not 

the costs of state regulators. Therefore, 

there are no calculations made for state 

examiner hours. 

Overhead Transfer Rate 

There have not been any major 

changes to the parameters of the 

examination program since the current 

OTR methodology went into effect.28

The minor variations in the OTR since 

2018 are the result of routine, small 

fluctuations in the variables that affect 

the OTR, including normal fluctuations 

in the workload budget from one 

calendar year to the next. 

The NCUA Board approved the 

current methodology for calculating the 

OTR at its November 2017 open 

meeting.29 In 2020, the Board published 

in the Federal Register a request for 

comment regarding the OTR 

methodology but did not propose or 

adopt any changes to the current 

methodology.30 The OTR is designed to 

cover the NCUA’s costs of examining 

and supervising the risk to the Share 

Insurance Fund posed by all federally 

insured credit unions, as well as the 

costs of administering the fund. The 

OTR represents the percentage of the 

agency’s operating budget paid for by a 

transfer from the Share Insurance Fund. 

Federally insured credit unions are not 

billed for and do not have to remit the 

OTR amount; instead, it is transferred 

directly to the Operating Fund from the 

Share Insurance Fund. This transfer, 

therefore, represents a cost to all 

federally insured credit unions. 

Based on the Board-approved 

methodology and the proposed budget, 

the OTR for 2024 is estimated to be 61.8 

percent, 60 basis points lower than for 

2023.31 Thus, 61.8 percent of the total 

2024 Operating Budget is estimated to 

be paid out of the Share Insurance 

Fund. The remaining 38.2 percent of the 

Operating Budget is estimated to be paid 

for by Operating Fees collected from 

federal credit unions. The explicit and 

implicit distribution of total Operating 

Budget costs for federal credit unions 

and federally insured, state-chartered 

credit unions (FISCUs) is outlined in the 

table below: 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75059 

32The NCUA does not charter state-chartered 

credit unions and is not the prudential regulator for 

them. The NCUA’s role with respect to FISCUs is 

as insurer. Therefore, all examination and 

supervision work and other agency costs 

attributable to insured state-chartered credit unions 

is allocated as 100 percent insurance related. 

FISCUs typically pay supervisory fees to their 

respective State Supervisory Authority. 

33See https://www.govinfo.gov/content/pkg/FR2020-12-31/pdf/2020-28490.pdf. 

To determine the funds transferred 

from the Share Insurance Fund to the 

Operating Fund, the OTR is applied to 

actual expenses incurred each month. 

Therefore, the rate calculated by the 

OTR formula is multiplied by each 

month’s actual operating expenditures 

and the product of that calculation is 

transferred from the Share Insurance 

Fund to the Operating Fund. This 

monthly reconciliation to actual 

operating expenditures captures the 

variance between actual and budgeted 

amounts, so when the NCUA’s 

expenditures are less than budgeted, the 

amount charged to the Share Insurance 

Fund is also less — and those lower 

expenditures benefit both federally 

chartered and federally insured, statechartered credit unions. 

The primary driver of the change in 

the estimated 2024 OTR is a decline in 

state credit union examination and 

supervision hours in the proposed 

budget for 2024. This reduction in state 

examination and supervision hours 

causes the weighted allocation of hours 

applied to NCUA in Principle 2 of the 

OTR methodology of the calculation to 

also decline.32 While the proposed 2024 

Operating Budget increases from 2023, 

the slightly lower weighted allocation of 

hours results in a nominal increase in 

insurance related costs and an overall 

decline in the OTR. 

The following chart illustrates the 

share of the proposed 2024 Operating 

Budget that would be paid by federal 

credit unions (69.2%) and federally 

insured, state-chartered credit unions 

(30.8%). 

Operating Fee 

The Board delegated authority to the 

Chief Financial Officer to administer the 

methodology approved by the Board for 

calculating the Operating Fee and to set 

the fee schedule as calculated per the 

approved methodology. In 2020, the 

Board approved and published in the 

Federal Register the current Operating 

Fee methodology, which forms the basis 

for how the Operating Fee is calculated 

in this section.33 Consistent with its 

triennial schedule for regulatory 

reviews, the NCUA requested public 

comment about the Operating Fee 

methodology in 2023. In the request, the 

NCUA sought comment on increasing 

the asset threshold that exempts smaller 

credit unions from paying an operating 

fee from $1 million to $2 million. 

Additionally, the request for public 

comment solicited feedback on the 

current three-tier operating fee schedule 

and other specific suggestions that 


ddrumheller on DSK120RN23PROD with NOTICES1EN01NO23.013</GPH> EN01NO23.014</GPH>

federal ('.redlt Unions 

Federal Credit Union Operating fre 38.2% 

31.0% 

'/rnurl?d Shares arearnf June 2023. 

2024 Distribution of Operating Budget Costs 

FCU OTRPortion ------ 31.0% 

Total FCU Po.rtlon 

69.2% 

FCU Operating Fee / 

38~2% 

Federally Insured, 

State.Chartered Credit Unions 

- FISCU OTR Portion 

30.8%* 

**Note: FISCUs typically pay supervisory fees to their respeetive State Supervisory Authority. 
75060 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

would increase the equitable 

distribution of the Operating Fee. 

To determine the annual Operating 

Fee assessed on natural person federal 

credit unions using the current 

methodology, the NCUA first calculates 

the average of total assets reported in 

the preceding four calendar quarters 

available at the time of the calculation, 

net of any reported Paycheck Protection 

Program loans. Credit unions with 

assets less than $1 million are not 

assessed an Operating Fee and their 

assets are therefore excluded from this 

calculation. If the Board approves 

increasing the threshold to exempt more 

credit unions from paying the Operating 

Fee, the assets of those credit unions 

would be similarly excluded. 

Based on the Board-approved 

Operating Fee methodology, which is 

summarized in the following tables, the 

share of the proposed 2024 budget 

funded by the Operating Fee is $140.7 

million. This equates to 0.01288 percent 

of the actual average of natural person 

federal credit union assets for the four 

calendar quarters ending on June 30, 

2023. The calculated Operating Fee rate 

for 2024, using the current $1 million 

exemption threshold, increases 19.59 

percent compared to the rate in 2023. If 

the exemption threshold were raised to 

$2 million, the calculated Operating Fee 

rate for 2024 would increase 19.61 

percent compared to the rate in 2023, 

and a difference of two basis points 

compared to the fee growth at the $1 

million exemption level. Both of these 

computations are shown in the table on 

the following page. 

As part of the Board-approved 

Operating Fee methodology, the NCUA 

can adjust the share of the budget 

funded by the Operating Fee based on 

an analysis of the agency’s future cash 

flow requirements compared to past 

years’ collections that were not spent as 

planned. Any projected surplus cash 

from past years’ fee collections not 

required to finance agency operations 

can accordingly be used to lower the 

Operating Fee share of the proposed 

budget. Because such cash surpluses 

result from past years’ Operating Fee 

collections, they do not offset the 

portion of the budget funded by the 

OTR. As the final 2024–2025 budget is 

prepared for consideration by the NCUA 

Board, the Chief Financial Officer will 

evaluate the agency’s cash position and 

make a recommendation about any 

surplus cash that can be credited to the 

operating fee. 

To set the assessment scale for 2024, 

total growth in natural person federal 

credit union assets is calculated as the 

change between the average of the four 

most-current quarters (that is, the third 

and fourth quarters of 2022 and the first 

two quarters of 2023) and the previous 

four quarters (that is, the third and 

fourth quarters of 2021 and the first two 

quarters of 2022), which is calculated as 

4.6 percent. Asset level dividing points 

are likewise increased by this same 

growth rate in order to preserve the 

same relative relationship of the scale to 

the applicable asset base. 

BILLING CODE 7535–01–P 

Operating Fee Scale 

To illustrate the rate for each asset tier 

for which Operating Fees are charged, 

the tables below show the effect of the 

average 19.59 percent increase in the 

Operating Fee for natural person federal 

credit unions, using the current $1 

million exemption threshold. The tables 

also show the effect of the average 19.61 

percent increase in the Operating Fee 

for natural person federal credit unions 

using the $2 million exemption 

threshold. The corporate federal credit 

union rate scale remains unchanged 

from prior years. 


ddrumheller on DSK120RN23PROD with NOTICES1EN01NO23.015</GPH>

PROJECTED FISCAL YEAR 2024 OPERATING FEE REQUIREMENTS 

1 t'l'Opl'l~~attng~ 

:2 ~d®~~fuim.ts 

l MiKelliine(IUS~ 

' ~~lttl!il.., trl1I 

s ~cft~llatii • 

.6. 111~~.!Qfo~ 

1 Hi!:t{sumU11~4•6} 

3 Ojlelatiriljfwid:ii.~jij~t 

i$ lilni!111.o~J. 

,: •••<:lperliti111~~ts(suiii·itmist;;ijJ 

11 f\l~~~~,...-~!Nmline$9•1t.il 

11- ~·pil:I~~"·~~ 

fa ~ce;!ffnestf.,li} 

14 ~-•liiif~~-fa~11t~12i 

iimllli. 

~·••. 

3-8~:n5- s 

li'i.$'1. . $i 

(O:j18) $ 

~~ 

•$(~~~'. 

ij~ $ 

$~1-

t(U25), $ 

$14f;7(1f. 

~ 

bmillliin 

~;ns 

7:,:1.si 

(0;3;78f 

JJ.$#$4 

$®.)911) 

(7;!,62} 

J14:'iJi<i4 

(0.3251 

···. .. {111.;ti~) I $ • ··· ... · 

$14!>..,. 

!Ui'.619} 

$2)c;049 

1•~ 

$2J:oill. 

1J,6t4)(, 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75061 

VIII. Appendix A: Supplemental Budget 

Information 

Budget by Strategic Goal 

The table below shows the combined 

total of the 2024 Operating and Capital 

Budgets, organized by the NCUA’s three 

current strategic goals. 


ddrumheller on DSK120RN23PROD with NOTICES1EN01NO23.016</GPH>

PROPOSED 2024 OPERATING FEE SC.Ate 

~ 

$0 TO 

$1,000,001) TO 

$2,l,:l0,l'S4,6l0 TO 

$6,841,009,;515 AND 

$1,000,000 

Sl,260,154,620 

$15)l41,009,5 l 5 

011!!1 

$0,00 

$0.00 

$370,911 

$590,007 

+ 0,00016409 

0,000047&2 

+ 0,00001597 

X total assets over 

X total assets over 

X total assets 011er 

2024 (Proposed! Nttl.lNl l'IINM federal Credit UIIIOII S(ale • $1 millloll emmptio11 

Pn>.)&ded FCU as:ret growth rate 

Operating le11 rate char,ge 

~ 

$0 TO 

$1,000,000 TO 

$ l,364,246,595 TO 

$7,154,114,676 AND 

Sl.000,000 

$2}364,246.595 

$7, 154, 174,616 

over 

4.58% 

19,59% 

(ha!lge ilHISSi!t level dividing polrll$ 

Change 111 assessment' rate perce11t:3ges 

Operating Fe.; As,es,in;mt 

$0,00 

$0,00 

$463,91;() 

$7$1,896 

0,00019624 

0.00005719 

+ 0.000019l0 

)( tolal as;;.ets over 

X total assets over. 

X total assets over 

2024 fPmposed) Natural Pw$011 l'edetal Credit Ulllon Stale• $2 million Hempllt:111 

Pro)edediFCU llS~ll!!OW!h(lll!! 

Ope,·~ting li!e Ill(!! d111nge 

~ 

$0 

$2,364,246,595 

$7,154,174;676 

~ 

$ S0,000,000 

$100,000,000 

TO $2,000;000 

TO $2,364,246,595 

m 

AND ()'l\'lr 

ro $100,Qoo,ooo 

Al'ID Over 

4.58% 

19.61% 

$0,00 

$0,00 

$464,031 

$738,015 

Sl0,600 

0,0001%27 

+ 0,0000S720 

0,0000191! 

0.00019$70 

+ l)J)000l230 

X total assets over 

)( total llSSE!ts OVE!f 

X tolil!I il!Ssets ov"r 

J( IQtiill ISSE!IS Q\/'<1lf 

x to!i:11 assets O'l<!r 

so,oo 

$2,260,754,620 

$6,$41,009,51.5 

$0,00 

$2,364,246,595 

$7,154,174,676 

$0,00 

$2,3('4,246,595 

$7, l 54,174,616 

$SO,(l(IQ:ooo 

$100,000,000 
75062 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

Note: Position totals do not include 

five positions funded by the Central 

Liquidity Facility and minor rounding 

differences may occur in totals. 

Office Budget Summary 


ddrumheller on DSK120RN23PROD with NOTICES1EN01NO23.017</GPH> EN01NO23.018</GPH>

2024 Proposed Budget 

Strategic Goal 

Dollars (in Millions) Positions 

t;;oal 1: Ensure a safe, sound,and viable system of $251.17 1,022 cooperative credit that protects consumers 

Goal 2: Improve t.he. financial well-being of 

lndivlduals and communities through access to $17.33 64 affordable and equitable financial products and 

servlce.s 

Goal 3: Maximize organizational performance to $116.S8 152 enable mission success 

Office of Inspector General $4.29 10 

Total $389.37 1,248 

Budgets for the Offices of the Board, Executive Director, Executive Secretary, Oml:uidsman1 Genend CounseL Ethics Counsel, 

Exte.rnal Affairs and Communications, and Chief financial Officer and the Capital Budget are allocated across all strategic 

goals. 

2024-2025 PROPOSED NCUA OPERATING BUDGET 

20Ul!•Ni :to.a◄ lll:JS Alli:horiHd Poilltoi>s 

OlliN App,.,;,,.d P,op-cl 21123~2024 Ch•· PropoHcl .2024 - 21125 Clu,;!9'9 

lhld!l'lt lludg11 M~ ........ :zon 2oi• 202, 

""""''"""""""'"''""l~•'•l-'<•>,s,,,.,~,-.•,1,,""''""-'"'""""'""'l"""I"'"""'"'''"" '"'" "''"~"' 

Ea:si:e;n~iQn 51,631.578 58,234,64!1 603,070 1:0% .60,1!83,ll81 2M9.333 4.$'!1, 2i11 263 263 

S:c>Ulhilm llq,~n 411,385,91!1 !\1,!1)11,.2$$ 2,$42,31$ S.1'11, $11,614.lml l,<,lki.394 $,21\1\1 231. :m 212 

W~ollfglc~ $5,104,SU $7,627,,\<'ll 2,s2z,.i:,.1s. 4.15% 60,510.491 2,llll3,0!;~ S,0% 245 l47 241 

Offi.:ie ~I National E""minatli;,m al1d S<lpt!l'"1»ol'I 14,340;39'1 15,ll87;!134 <i!,647,540 1&.5% 17,117,913 789,97~ 4,7'141 50 S4 54 

Supe,wislcn arnl l!nmi~..tlon 1 MA62,l95 1iSS,3GJ,2!1S • 8.M0,9ll0 S.11% 194,312,1)64 9.0011,769 4,11'!& li7 :795 1!l'IS 

Olficeofth&!k,~ld 3,$13,90! 3,.~1!;314 1114,414 4.6% 4,097,424 ~.no 2.5%. 13 u. 13 

Ol'lic.,Qf th" wcutii<l> Cl~ S,386,986 >1;1110,635 793.,649 23'4% 4,338.230 157,595 3J!!ll, !O 10 10 

federal Flh••ndaUn,titll!ions !:""mi:l"lo!ioo Cound 2,B:5,00!! 2,475,000 340,0CJO !5,.9%, 2,47$,000 ' 0.o'l6 . . 

Ol'li«! or !he• El<e¢.11ive Secretary 44~,!lllll 445,9$$ NIA 754,003. 30&,0!lS 119.1%. .. 2 ; 

Offi<~ohhll Cmbud:<!'lllln 339-459 676, i;4 ·336,715 9!1.;!% 195,502 119,,:UB 17.6%. 2 3 3 

Ollioe bf Ethic, Cou11sel 2,121;391 :l.449,&M :1,t:1,406 IS.2% 2;lS7,561 301,164 12.l!% ; 8 a 

Office of Bffllness Innovation. 3,657,128 4,&0MS3 U5,2,.S2S 31.5% S,137,411'1 32·1,828 6,8'6 12 15 15 

Ol'lkul C¢ntlt1uty and s~urttv Mtnagl!ffll!nt 5Aill,3:!!i s,101;<1m lM,581 4.9% 5,9lSm4 1.27,101 4.0% 12 ti 13 

Ol'lioe •of Minttity and!ll'<imen indu!ltoo 3;~16,527 4il23,399 501,372 13.0% -4.~3.3'15 139,416 3.;% 10 10 10 

,Ol'fil:<! ohh~ Chi.ii Ecoobmist 2;5S(l51 I 2,W.3,274 376,162 14'6'!6 J,O!Xl,3n 127$6 4.3% 8 8 $ 

O!fi,:,i of Qinsij!l1¢tfin.inl:i•I Pr!!l:e<:tilln 1,301,liU 8,117.,l!lll 810,37\ 11.1% M.S!l,463 371,S/11 4.$% 30 31 •1 

ornc .. ohh,eChloffl"•nitl•I Offi.,., l3,C80,362 2S,.264,361. 2;133,!l!IQ 9.5% :.!S,!IOll;•l'.1g l!4i,ll!I l.S'lll 54 S,!i'' 55 

.Cros.•cutllng agmq ""I'"'"'"• (l!Mll5.$49) (1$,364A:i2l •M51.,i21 ·32.6% 4,635,356 11.999,713 134,7'1i 

Ol'lic1101' I hJ11 ,n,111" l111i:imuUon Olftw iis.6$6,41!7 62,!l!lll,\1$l 6,003,48!, • !U% 611;.:nm 1.ill.11,051 l.;i% 49 SO ~o 

C~I Vrlk>ti !le!!0\11¢.,. arid (Xil'!lll~l<:>n. 9,3,(1(1,5$0 !1,02:3⁄4.3114 1/442,$,M 17.$% 11,S.5<2.018 s,e.~ 4.,8% ~9 41 41 

Ol'li~ of Exilmln•tloll & lll!lij!an,~,e 1$,70$.823 1 f,70&,766 999,943 ,'1,4'!6 17,439;101 7;13,1)35 4.4%, so 53 53 

,om.,., .of i:.e..1111 <:.:;ullH! 13.780,8!!0 14,912,6,0J4 1.,HU!i4 8,3% 15,(1117JIS7 771,11.23 S.:111,. 46 44$ 47 

,Offict 01 lnl!,le<:ll>I' Gen>!ral 4,072',247 4,290,0l? n1,,ao S,J'% 4,4,n,31, 149.,21)9 U% 10 1/) 10 

Ol'fi,,..<lf Humm,.R/11$0•1- • 20,284,090 22.857,1611 2,1173,077 12:m 25,(171,112 2,214,004 9.7%. 45 47 41 

0111.:ie .of l!l<!ern<1I Affal,s,li,l'ld CQnil'IIUnlc,i,lioo 5,464,016 i;,319,53.) 9\5,,1.57 16.S.% ~.634,ilfl 254,5115 4.0% 14 IS 15 

IIH>rt Ma,n~ll'lm<ll'lt ~nil Amltilfl<:ll' .Cffltlll 5,342,!84 Ml~.3l2 1,07.3M$ li,7~126 2$$,794 4$%• 22 ~, 2l 

/lltl$11.1ol'I Sll!lt>O•I. 167,695,405 1-.,1m,10s 111,116,100 lM'!!, 224,$57/9~! ;?7,74(1,231 14,t'II· 41.t "52 4115 

lo«-1 Op11<11<tln11 11\ldftt 044,l!l'.8.000 $382,'IH,OOO $'7,9$7,IIOII 11.11% t41a,,10,ooo Ull,7H,.(ll)(I !Ml'II 1,220 1,:241. 1,251 

-
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75063 

Note: Minor rounding differences may 

occur in totals. 

Office Budgets 

Note: Minor rounding differences may 

occur in totals. 


ddrumheller on DSK120RN23PROD with NOTICES1EN01NO23.019</GPH>

OFFICE OF THE CHAIRMAN: 2024-2025 BUDGET SUMMARY 

20238oard .2024 Proposed 2023~2024 dtang• 202!1 Proposltd 2024-2025 Cllang• 

ApProvltd Budget Blldg~t. Ch1111ie l'ercent Blldgtt Chang• Plllrcat . . . . . ........... ,.,.,,,. ..... "',~ ""'"'"""'"'' ,.,,.,.,.,www••••"""'"""""-"'"""'-'' 

Posltl<ins 4.0 4.0 0.0% 4.0 O,o,3⁄4 

Employee Comj:lerlsalion 1,008,399 1,089,761 81,361 8.1% 1,1111,5,96 211,835 

Sali!irie1 711,6)7 7(;'.S,{)19 Sl,3112 1.5% 186,!lll!i 21,sm 2.9% 

Be11efll.s 296,163 :!24,142 27,979 \!IA% 331,600 6,.8511 2.1% 

Tr.we! SQ,000 SP,000 0.0% Sl.>,000 ·0.0% 

Rent !Comm/lJIJI 2,250 2,250 0.0% 2,250 (l.0% 

Adminl'll!lltlve 10,000 Hl.000 0.0% 10,000 1),()% 

COlltt actim S111111ces 4\000 ,Hi,()()() •9J% 39,000 0.0% 

Total • 1,11J,At • 1,1,,,0:,, • 7'7,1111 U% $ ,,:n,.a• • :a1,,11 2,4% ____ ______________........,..., " _..,._ ___ __.._....__.,,;,...-__I __ ~ _ 

BOARD MEMBER HAUPTMAN: 2024-2025 BUDGET SUMMARY 

20238oard 2024 Proposed 2021•2024 ChaR9it 2025 Prop0$1td 2024-2025 Ch•llge 

AppNWed Budget Budget Change Peri:tnt Blldget Change Peri:el'lt 

PoilltlOIIS 3.0 u 0,0% .M O,O'li, 

""""""""'"""""''"~'"'"'w,s, 

Empi!l)lee Comj:ler\$/IIIOfl 713,13:? 752,009. 311,1177 5.5,% 765,530 n,s:n 1.8% 

Sala,rles. 500,283· $2.S,.639 25,:357 S,1% 536,161 10,522 2,()% 

Benlrflts 212,M!l 226,370 13,521 6.4% 22!l,!16!l 3,000 1.3% 

1'r111vel ·so,ooo S0,000 0.0% 50,000: 0.0% 

Rent IC 1;1111111/\Jtil 6,751'.l li.?SO 0.()% 6,150 0.0% 

Mrnlrl!sl111tive 14,000 14,000 0.0% 14,()00 0.0% 

Contraetoo Sl:f\llt!i$ 8$,00!l . 83,000 (),()% 83,000 0.0% ,s•~·~"'"'"'""'"'" __ , __ °''""''"""""'""'"""'"'"'"""''""'"""''"'""''"'" 

Total $ 8&1;882, $ 1105,7511 $ H,1177 '4.5% $ 1>19,280 $ n,s:u 1.,5'!(, 

-· 

BOARD MEMBER HOOD: 2024-2025 BUDGET SUMMARY 

20238oal'd 2024 PropON!d 20:U-2024 Changi 20:llS Proposed 202~202' tll11nge 

Approved llldget Budget Ch1119e Pltrcent Budgltt Change Percent '""""'""''-""''•''-'~-~·~·--·"'"'''"'" .. --·"'·"· ........ ,_ -~~'"'~···-·-·--·' __ ,,.,_,, •• ,w .. ,._,,_,,.,, ...... ~ ............... , •• ,,,.., •• ,.., •• ,..,,,.' ~'···-····""··•---· ,----~-~"-···-·""·' ' 

Positions J.O 3.0 0.0% !.O 0.0% 

Emplojll!lf! CompenmUon 803))36 784,82,2 (1!J;,l1Sl •2,l% !J;OQ,0511 1s,:m 1,:9% 

Salaries 5611,061 im,SS!I (17,475) -3,1% 563,464 11,878 2:2% 

Ben11Mts 233.976 233,236 (740) -0.3% 236,595 ),359 IA% 

TrillWI 65,000 6S,000 0»% 65,000 0.0% 

Rent /C'.QmnW!!I 6,750 6,750 0,0% 6,75() (),\)% 

Administrative 14,000 14,000 0.0% 14,000 0.0% 

Contra<lild SE!r\llCES 98.000 9!1,000 0./J,% 9i,ooo 0.0% 

Total $. ,,.,'186, $ 918,512 $ 111,215) ., .. ~ $ tBljSOI $ U,237 1,$% 
75064 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

Note: Minor rounding differences may 

occur in totals. 


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2023Board 2024 Propl>Hd 2023-2024 au1nge 102$ Proposed 2024--201!. ·Change 

Approm BUdfi,ll 8udget CIIMge Piirce11t Budget Change Pilrc.nt 

Po$ltlolls 13.0 13.0 13.0 0,(1% 

Employee Coo1pen,atlo11 3,300,151 3,484,564 184.414 5.6% l,51:13,674 99,11() 2J:l% 

Sala.fies 1,329,860 :!,451,739 n~.::m 5.3% 1,529,034 76,295 3.,1% 

Benefits 97())90 l,031,8JS 61,535 6.3% 1,()54,641 22,$15 2.2% 

Tra\'li;I 169,000 169,000 0,0% 169,000 0.0% 

Rmit Kom1n/Ulil 11.750 1f:\,.l:SO (1,500) 41.5% 16,250 o.0% 

Admirifstr.;til'(- 39,000 41),500 1,500 3.3% 40,500 0.0% 

Contracle(! Sen,ites 1!!8,000 28l'.,OOO 0.0% 2118,000 " a,, • --.., n . .,,_ ,., ... ,...., '"-'·• ~•" '"''"·""~" ,,. .. ,_, _,,,,w•••••·•• ""~"-• .•• __ _,_,,..,. • ...... ,m. 

Total $ 3,$1!,901 $ 3,ll!Jll,314 $ 1114,414 4.8%; $ 4,097,424 $ 99,110 2.5% 

OFFICE OF THE EXECUTIVE DI RECTOR: 20l4-202:S BUDGET SUMMAR¥ 

202J'8Gllffl 2024 Propond 2023-2024 Ch1111ge 2025 Proposed 2024-2025 Change 

Approved Budget Budget Change Percent Budget Change Percent 

1'11sltlons" 1(1.1) 10.0 O.Q'!I, 10.0 0.0'!!\ "'·'•'""•·••·.-w·,•• ·••""~'"'" '~~'"'"'''•"•"•···•·•·" v•,,~, .. ,-,.,,,,_,,,,,w,.«••••,---c,,_;,,,.,.,. .. ,~•••~•,,-,-.,.,,,__,,.,., .. .,~•,v•••--••--• '"'-"'" ,•~""'' ,.,,. "" -""'"' -~ ~,•-, """''•••••-•"••••"""~""'""'''' •••m•« .. ,,,,,_,.,._.,,,.,,. ,_, ~ ""''~"'''" 

Em~oy~e comper,$iltlon 2,841,;>36 3,284.llSS 443,649 15.6% 3,442.480 1S7,595 4.8% 

S..la.ries 2.006,694 2,ml,33'9 3 J 1,645 1$.$% 2;B9,545 121,206 5.2% 

Benefits 834,542 966,546 132,004 15.8% 1,002,9:,35 36,3$9 3.8% 

Trawl 30,00!) 30,000 0.0% 30,000 0.0% 

Ren, /Comm/Ul!l 20,000 20,000. 0.0% 20,000 0.0% 

Adin!nlstratlve 2,150,250 2,soo,iso 150,000 16.3% 1,500,2.50 CW% 

EDG01e 15,250 25,250 10,000 65.6% 25,250 0.0% 

fFIEC 2.m.000 2,-t75,000 340,000 l!i.9% 2,475,000 0.0% 

Ccmtractoo Services 4S0,500 820,500 34-0,000 70J;l% 820,500 0.0% 

Ttltal $ 5,521,lllld $ 4,MS,6:H $ 1,133,1149 :10.!l'li> $ 6,813,230 $ 15-7,!(15 U'll., 

- . - -- ••• I 

-

102:?Boaird 2024Pl'OpoMd 2023~2024 Ch11111ge 2025 Prop0$1!\'f 2024-202! Cllall!)<!! 

Approved Budget llldtat (h•t• Per1:41111t Budget (11111111• Percent ,, •• ~, .... ◄,-~,,,,, ........ 4,"0,,_,.,_,~,,, . .,..., ...• _____ , .. « .... 

Positions :a.o 2,0 3.0 U> 50.0% ,,,.,,.,-.,.-. ... , ... ~, ,,. " '•"''"''"'"" ........ ,., 

'Errrpioyeill C.oml)<!!1satlon 375,9$13 375,9$13 6$4,083 500,005 81.9% 

5.ll~rie:s 167,454 367,454 4!l6,289 2111,835 81.11% 

Benefits 108,535 100,535 191,1114 !l!il,259 S1.l% 

Tr1111e.l 10,000 10,000 10,000 

11,mt lCommNtll 

Admfrrtstrative 

Cohlfact~ Sii!l'\IIC<!!S 60,000 00,000 60,000 ., .. , .... ,"''''""""''"·•"••-.• ,,~ " 

Total $ 445,!188 $ 445,!'l-8$: . $ 754,ol!J $ 3011,095 6!M% 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75065 

Note: Minor rounding differences may 

occur in totals. 


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l'osltlons 

!'mployee Compensation 

5.ilafie~ 

!lenelits 

Travel 

Ront/Comm,Mll 

Admi11l;tratlve 

Co11m,(. ted Sl!IV!c<l$ 

Total 

Po,Jtlons 

Employee Compensation 

S<1l11ries 

Bel\¢!\!; 

Travel 

Rent /CommAIII! 

A.dmtnl,tratlve 

Contm led Servl,i!l, 

l0::!3Board 20::!4 Propoud 202:iH!:024 Change :zo:a Proposed 2024-2025 Change 

Budget Chango Percilnt Budget Change Pertllflt 

2.0 3,0 1.0 50.0% 3.0 0.0% 

'.324,459 661,174 336,715 103.ll'li, 780,502 119,12$ 18.0% 

235,719 4oS,925 230,200 91:7% 549,628 83,703 1$.0% 

&l,/41 19S,249 106,500 12ii-t:J% 2'l0.S74 35,62.S "18.2% 

S,000 S,000 S,000 0.()% 

woo 2,000 2,000 0.0% 

t,000 1,000 1,000 110% 

7,000 7,000 1,000 0.0% 

$ 33!>,4$9 $ 616,174 $ 336,115 H.2% $ 7tf,Sta $ 119,321 17.6% 

-··--~- ---

2023 Bo.ird 20::!4 P,opoMd Cll11119e 20251'1'opo$ed 

ApprowdBudget ludiJ•t 

2023-2024 

Change Percent Budget Change 

UJ 

1,969,608 

1,414,524 

555,0$4 

15,000 

4,100 

3,000 

11.0 

2,339,551 

l,669,627 

!>6s',924 

15,000 

3,000 

1.() 

369,94) 

25$,103 

114,840 

(4,:1(){)) 

143% 

18,8% 

18.0% 

20.7% 

0.0% 

·Hlll.0% 

0,0'3⁄4) 

M 

2,647,315 307,764 13.2% 

1,901,980 232.,~S4 i3.9% 

145,'.US 7$,410 11.11% 

15,000 0.0% 

l'.l.0% 

3,000 0.0% 

135.589 9,,:m (43,33l'I ·ll.0% 92,252 0.0% ,. .......... ~ •• ,, ... , '"" .. " "" "-<< < ••'-'-' '""""'' -·-•~ 0' ' "" ....... , '"'" "'w'~"--•• '"' ,~, .. , ........ -><«•~ ~~, .. _._..,, • •• •''"'"~"-'' """'"'''"'"'"' ..... ,. ..... ~",'''"' --·~"'"<" .. ~'~""" • .. _, '""" + .. , .. ,, .. "-~-•---•·<"•'-"'•'"' 

Total $ 2,121.397 $ 2.4411,1103 $ lUAOe 15.2% $ 2,7!17,567 $ 307,764 12,6% 

W239ollrd 2024 Propo!C<i!d 20U-2024 Clti!11'191! :102 S Proposed :m:M-:ioas C1!1111ge 

Approved 811d9et Budget Change Percent Budget Chant• Pertent 

Positions 12.0 u.o 3,0 l!i.0% 15.0 (),(1% ~"°~"'"'=M~""'"<'W"'F~ , """"""""''"-'W•=> ,_,,_"°"'°"''"ww,,•~sw,,,~,~ '''"~'" 0 , a•a•,a•••"'"n"~-=-•--,.,,..,\"'•'"o/,'WM<>,w-,<', 

EmplQYee Comp<,fl.a!lon S,llla,2!12 4,l()) .. 1,9 005,447 2!1.3% 4;<131,!i51 327,$28 8.0% 

Salaries 2,269,788 2,.005,BO 635,542 28.0% 3,149,066 243,131 S.4% 

8!!!11!1\ls 928,494 1;198,400 269,9()5 29.1% 1,2e2,4,n .$4,091 7.!)% 

Travel 95,100 1113,800 311,100 39.ll% 133,800 0.0% 

R~n! /C<:>111111/VtH $,100 ,;,ooo !Xi() 11.1% 9,000 ll.()% 

Administrative 6,31'.)0 6,300 0JJ% 6,300 0.0% 

Cohttact.!d Services 141),746 SSl.l,824 200,0711 59.7% 556,824 Oil% 

Total $ $,6!17,128 $ 4,80<.i,6U $ 1,152,5:U :n.!1% $ 5,U1,4$1 $ ,m;su 6.8% 
75066 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

Note: Minor rounding differences may 

occur in totals. 


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OFFICE OF CONTINUITY AND SECURITY MANAGEMENT: 2024-2025 BUDGET SUMMARY 

2023Board 2024Pnlpo$ad 20211~2024 Change 2025 Proposed 2024-2025 Chang• 

ApprovtldBudget Budget Chmige Percent Blldgtit Chang• Percent , .. -,,_., ....... ,.,,.,._,.,_,~ ... , ..... 

Posltl<,ns 12.0 12.0 u.o M 8.3% 

Employee Compensation 3,113,687 3,403,080 289,393 9.3% 3,630,187 227,70'7 6.7% 

SalatlM 2;Z011,430 2,414.117$ 2~,444 9.3% 2.se~.121 11.\$,i@ 7.0% 

Benefits 905,2$7 981),206 $2,949 9.:1% l,j),41,666 59,400 6,()% 

irllWI 20,000 is,ooo· 5,000 25.ll%. 2$,000 0.0% 

Rent /CommNtJI 51,200 55,000 (2,200) :3.11% SS,000 o.l:li!6 

Adm!n 11 ttatllle 36,000 36,000 0,0% 36,000 0.0% 

CoI11ra1;tlli:l S11tVl!:!IIS .2,216,439 2,\$!1,1117 IU,612) •U!li 2,11!!!,l!:.!7 tt.0% 

Total $ 4,1% $ J27,707 4.0% 

OFFICE OF MINORITY ANO WOMEN INCLUSION: 2024- 2025 BUDGET SUMMARY 

20:aJ;Boanl 2024 Pl'OpONd 2023-2024. Change 2025 Proposed 2024--2025 Chang• 

Appi'Oi!Nd Budget Budg•t Chmige Percent Budget Change hrnnt 

.Positions 10.0 10.0 0.0% 10.0 0.0% '"''"""""""'""'"'"'""'"""'""'""'"""""""'""""' 

Employee compmsatio11 2,662,993 ·2,904,975 241,%2 9.1% 3,044,391 13!1,416 4.8% 

5.llai'ies 1,836,248 2,002.,2211 175,9ll0 9.3% 2,i?0,044 107,$16 S.2% 

l!enefits. 716,745 84:1.147 66\,002 lil,5% 874,341$ ll,!$00 3.7% 

Tt.illel 61,.100 69,125 8,625 14J% 69,125 0:0% 

1Fle11t /Comm/U!II 14,650 1l,!!SO (3,100) -:11.2% 11,.S.SO (Ml% 

.AdITT 11ls lralll'I! • 1a2,:m, 184,llffi 1,865 1.0% 184,H!O (I.()% 

i:ontra<:ted St'!'Vl(e1 99SM:i!l. 1,2$3,469 •. s11,ooo 2$,9% 1,:153,469 0,0%, 

Total $ 3:;916,527 $ 4,423,899 $ ,507.,372 13.0% $ 4,SIU,HS $ 1Jll;416 J,2% 

OFFICE OF THE CHIEF ECONOMIST: 2024-2025 BUDGET SUMMARY 

202:!Board 2024 PropoNd 2023-2024 Ch•nge 2025 Proposed 202~2025 Ch11111ge 

Approved Budget Budget Change Percent Budget Change Percent •"M,,_,...,,_",~"'"~°'W''" _ .. ,-,__ .. ,,_._,,,~._ .. ,.,, .... ,~,._,," ''"-"'"'"''"'"'"-·"·'·• .. ,,,,,~,~-·-···""·--'"'· 

Positions u LO 0.0~ 8,0 0.0% 

EmplOYl!ll! Compmsatio11 2,347,767 2,629,911 2112,143 12.!)% 2,757,008 127,09& 4.8% 

Salaries 1,679/164 1,885,251 205,287 1:2.2% 1,983,815 98,564 5.2% 

1!1mefits 661,ll03 ?,44,659 76,!56 11.5% 773,194 :i!S;S34 3:8% 

'lhil"l!I 20,000 m;ooo 0.0% 20,000 0Xl% 

A<ent 1'011iri11U!ll 4,:.!0ll 4,:ZOO 0,0% 4,200 0,0% 

Ad1111ntstratiVI! .i!0,230 304.849 ~.619 45.0% 304,849 0.0% 

Coritratted Servtms 4,314 4,.wi (l.1")% 4,314 0.()% 

Total $ 2,$86,511 $ 2,!111$,214 $ 3111,1ft 14.f% $ ll,090,a11 $ 121,0Sil 4.3% 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75067 

Note: Minor rounding differences may 

occur in totals. 


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:20238111in:I 2024 Proposed 2023~2024 Change 2025 Propos!ld 202~2025 Change 

Approvtd Budg,it Budget Chall!llill Pillrcent Budget Ch11n111 Ptircat 

Po,lt!OII$ 30.0 31.0 1,(1 J.3% 

Employee Compema!lon 6,644,152 1,491,112 !!46,%1 11.7% 1,862,693 371.581 5.<)% 

Salilfi~ 4,664,Ql3 5,240,507 m:ll,4 12:.3% 5,522,696 282,1il9 5)t% 

Benetils 1,919,469 2,250,605 211,136 13.1% 2,339_,998 89,392 4.0% 

Travel 472,475 9SUil% 472,41$ 0.0% 

Rent K. omm/U!:11 42.543 315,795 15,748) 13.5% 36,795 0.0% 

Admlnistrall\l\e 23,880 11,500 16,300) ·16.7% 11,500 0.0% 

Coh!fa(;red Seivkes 300,5()() H}O,(l()O 1200,5001 -72.3% Hl0,000 0.0% 

Total $ 7,307,512 $ 8,11'1,1182 $ 810,311 11.1% $ 11,489,463 $ 311,5111 4.6% 

Cha1119e (hange 

Perwnt Ptircent 

Positions 54.0 u.o 1.0 1.11% 5$.0 0,0% 

Empk,yee Compensation 14,513,938 11,:m,23s 2,838,.300 l9J5% Ul.(l39,134 686,896 4.0% 

Salaries 10,394,754 ll,67!1,282 1.iM,5213 12.4% 12,204,13! 524,M!l 4$% 

OCIO 8,150,156 9,885,627 1,135,471 13.()% 10,410,669 S,5,042 5.3% 

Crosswttin9 1,644,598 1,793,655 149,()57 9.1% 1,793,462 (193) (),0% 

B~n~li!S 4,.ll9,184 S,6l'2,95$ 1,SS;J.172 37.1% 5,1!35,003 162.()47 2.9% 

OCFO 3,703,765 4,H,2.15$7 471.1,\,22 12.9% 4,344,763 162,076 3,9% 

Crt1$$Wttin.!J 415,419 l,49D,2ffl 258,7% 1,490,240 (29) (),0% 

Trav.,I H'l0,483 5(),24-0 

OCFO 100,000 SD,OOil ,$().()% 5(),(l()() 0,0% 

Crosm11tlt19 41!3 ~40 !24Sl ,50.3% 240 OJ)% 

Rent /Comtn!Util 1,4511,259 1,912,875 514,616 3$,3% 1,971,815 Cl.0% 

OCFO 1.458,000 1,972,300 514,300 35.3% 1.!172,300 0.0% 

Crosscutting 259 575 316 12Ul% 57.5 CW% 

Admlnt,t,ati'il!> 2,028,293 2,00S,480 40,187 W% 2,023,480 (45,000) -2,2% 

OCFO 600,000 718,(IOO 38,000 5.6% 673,000 (45,otl\)) -6.3% 

t,osscol'tlng 1,348,293 1,;\$(;,480 il,187 0;2% 1,350,4il(l (l,0% 

Contracted Serl/ices !14,836,160) (9,543,894) 5,292,266 ·35.7% 8/156,106 18,000,000 ·lM.6% 

OCfO 8,388,441 8,455,747 67,306 0.8% (l.0% 

C1osscutl/11g (171999,541J 5,224,960 -22.5% 359 H;l,000,000 ·100,0% 

Total $ J,264,BU $ 11,89',IIJI> $ ll,6H,U6 264,5% $ J!l,M1,tlli5 $ 111,,M1,GIS 15(;,7% 

OCFOTolal 1:tOS(J,362 25,264,361 2,183,9')9 9,5% l5,91l6,4l9 642,HS :>,5% 

{19,815,549) (U,l64,4:.l:?) 6,'451,117 •3:1,6% 4,635,356 1,,m:ns ·134.7% 
75068 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

Note: Minor rounding differences may 

occur in totals. 


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OFFICE OF THE CHIEF INFORMATION OFFICER: 2024-2025 BUDGET SUMMARY 

2023Board 2024 Proposed. 202:11-2024 Otaffl.l!e 2<125 Proposed 2024-21125 Change 

A11t1roved Buda-t Budgft Changt Ptr<ent Blldget Change l'flullt .. , .... ,, .... , ..... ,., .......... ,,. .... ,., .. , ..... ~·-, 

Posltl<ins 49.0 so.o 50.0 o.~ 

Employee Compensation '11,M2;loo 14,461,669 '15,222,719 761,051 5.3:% 

Sala1rl~ $.427,312 1(),257,174 1,lml,862 21.1% 1 (),844,102 586,929 5.1% 

Benel1ts 3:,455,078 4,204.49$ 149,417 21.1% 4,318,617 114.,122 4.1% 

Tri;'Mi!I $5,000 60,000 (.~5,000) ·:l9A% 60,000 CU.!% 

Rent /CommAltll 2,7$3,863. 3,580,601 826,144 30.0% s,sao;1;oi o;O'll, 

!ldm!nls11atJYe 30,000 3(),000 0.0% 30,000 0.0% 

Contra<:ti!.ld Sllll'vlces 44,,4$1, 7()6 '.4,s,t,46l 8.6% 45;1-m,100 1,220,000 U% 

Totll $ 55,4815,407 $ Q,Sllt,fll2 $ 6,.903AN tll.4'111 $ M,571.0H $ 1,t81,0S1 3,2% ~~!'l!JJ~-~'1 "'" w ... '"~ '~ -~,-~-~~-~~,~~--... 

OFFICE OF NATIONAL EXAMINATIONS ANO SUPERVISION: 2024-2025 BUDGET SUMMARY 

20ll8oard 2024 Proposed 2023-202.4 Charif• 2025 Proposed 2024-2025 Change 

Alltlroved Budget Budget Change Percent Bl.ldget Change Percat 

Positions 50.0 $4.0 4.0 .s.o'!I> 54.0 0.0% '""'""""""'""'"'"""""w'"'"''~"w" 

Employee Compensation 12,930,035 15,268,184 2,~38,149 11!.1% 16.051!,163 7(!,'!J,979 S.2% 

Sala1ie. 9,102,957. 1(),11()8,978 1,706,021 18.7% 11.411!,189 609,211 5.6% 

Benmits 3;827,078 4,459,206 632:,12$ 16$% 4,639,973 l&o,767 4,.1% 

1'1a'll!I 1,oos;ooo 1,ll<ltl,000 295,000 '9.4% 1,300,000 Q:0% 

Ren! tcomnVUtl! 34,400 50,()00 15,llOO 45.3% 50,()0() 0.0% 

AkJ1rjn!11ratlve 61,95() 44,040 ('11,910)· ·28.\11% 44,04() (l,()% 

Contt.ai;iecl Slll'iilc:es: 300,009. 325,710 16,nn M% ns.mi 0.0% 

~kl $ 14,340..SN $ 11t987,9'4 $ 2,647,540 18.!i'!!, $ 17 .,77,913 $ 789,fl't 4,7'& 

-- OFFICE Of CREDIT UNION RESOURCES: AND EXPANSION: 2024-2025 BUDGET SUMMARY 

2023 Board 2024 Proposed 202.t-2024 Cha~• 2025 PropoHd 202+2025 Changt 

----- ____ A_p_provedBlltlget·····- .. ~~~: .............. . ~.~~-~! ......... -~.n..t..' Budget Change Percent 

Posltl<ins :au 41.0 2.0 5.1% 41.0 0,0% 

Employee Con1penS1ltlon 8;280,550 1 Cl.043,394 1.762,844 21,3% 10,572,028 52$,634 . S,3% 

Sala.rles .5,800,843 7,028,250 1,227,407 2L2'% 7,430,498 402,248 S:7'% 

Belll\!!ils 2,479:,707 3,015,.144 535,431 21.6% :3,141,5~0 126,3116 4.2% 

Trawl 300,000 350,000 50,000 16,7'% 350,000 .0.0% 

!ile11t JCoromNtl! 42,000 34,000 (8,00QJ • 19,0% 34,000 o.<m 

!ldmlnlslratlve. 42,000 3S,OOO (7,0001 -11.1,1'% 35;000 0.0% 

Contra<:ted SE!r\ilCt,S 716.000 $61,000 (155,000) ·21.1,% 561,000 0.0% 

------------~----------------------------- Total $. !>,!180,.!l!iO $ n,oU,H-4 $ 1,64.1,144 17.!1% $ 11,5S2,021 $ !121,Q4 4.8% 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75069 

Note: Minor rounding differences may 

occur in totals. 


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2023Board 2024 Proposed 2<123-21124 Change 2025 Propo$ed 2024--2025 Change 

Approved Budget Budget Change Percent Budget Chang• Perc<tnt 

Positions 50.0 53.0 3.0 6.0% 53.0 0,0% 

Empioyee Compemalion 13,042,468 14,706,706 1,664,238 11.8% 15,440,341 733,635 S:J.l% 

Salaries 9.271,4a0 10,400,7&2 1,129.302 12.~ 10,964,905 564,121 5.4% 

Benel\!s 3,710/,11!8 4,305,924 534,936 14.~ ,475,436 169,512 3.9'11!. 

Tr;,wel 603,068 S9S,960 {7,108) -1,2'Wi. 595,960 0.011-

Rent /Comm/Util <11.100 34.500 (6,000) -16.l'Wi. 34,500 0.0~ 

Adminf;trative 428,164 248,600 1179,564) ·4L9% 248,600 0.0'4 

Contra,; led Si!! viu,s 1,591,023 1.110,()()() (471,0;n) -,9.6% 1.rn,,000 0.0'!!, 

Total $ 15,705,823 $ 16,705, 11$6 $ 1>!1'9,943 6.4% $ 17,439,401 $ 733,635 4.4% 

:!OU Board 2024 Prop0$<1d 2023-2024 Change 2025 Propos«l 2024-2025 Cha11g11 

Approved Budg11t Budgllt Chang11 Perc,:,nt Budget Change Percent 

PMitlons 46.0 46.0 {l.1)% 41.0 1.0 2,2% 

Employee Compensation '13,248,llllO 14.~B,034 1.{)99,154 83'3⁄4, 15,119,857 771,823 5.4% 

Salarie 9,,489,528 11:l,253,644 764,116 !I.I~ 10,841,553 587,909 5.7% 

Benefits 3,759.352 4,004,390 335,038 e.9% .278,304 183,914 4.5% 

Travel 100,000 90,000 110,0001 -!OJI% 90,000 O.O'i& 

Rent /l:<.mm1/Util 10,000 3,()()0 (7,0001 -70.0% 3,000 0.()11(, 

Administrative 7.000 5,000 (2,000) ·28.6% S,000 0.0'11; 

Contt·a,tcd Ser"1ces 415,000 '480,000 6$,000 lS.N ffl,000 1).()% 

Total $ 13,780,380 $ 14,926,034 $ 1,145,154 8,3% $ 15/4197,851 $ 771,823 5.2% 

2t>238oatd 2024 Propos<1d 2023-2024 Chan9<1 202s Propos<!<I 2024-2025 Chang" 

Approved Budget Budget Change Percent Budget Change Percent 

Positions 45.0 47.0 2.0 4.4% 47.0 0.0% 

Employee Compensation 11,7.20,037 13,713,160 1,993,122 17.0% 1-4.327,164 614,004 4.5% 

Salaries 7,577,672 8,652,523 l,Oll4,1!5l 14.3% 9,130,520 67,997 S. 'Wi. 

Benefits ,.142.36S S,OS0,637 90$,,71 21.9lf, 5,196,644 146,007 1.9% 

Travel 3,066,0(XJ 1.<160.000 (&J6,000) ·l9.8% 3,260,000 l,()(),000 32.5% 

Rent 1comml1Jtil 00,700 328,600 181,100) ·19.8% nll,600 -400,000 121.7% 

Admlnistrattve 1,150,100 1,165,950 15,850 J..4% 1,365,950 200,000 17.2~ 

Contracted Service<; 3,938,253 5,!8,l,458 1,251,205 31.6'% 5,3.'!9, 58 200,000 3.9'!!, 

Total $ 20,284,090 $ 22,857,168 $ 2,573,017 12.7% $ 25,071,112 $ 2,214,004 9.1% 
75070 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

Note: Minor rounding differences may 

occur in totals. 


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OFFICE OF EXTERNAL AFFAIRS ANO COMMUNICATION: 2024-<2025 BUDGET SUMMARY 

202:tlun:t 2024PN>po111d 20234024 01a11ge 202!1 Propo,lld 2024--2025 c1111111ge 

AppNMM:I IUdgitt llldget. Ch1111ge PerCll!llt '•* Change Ptiunt '"""'"""'"'~'""~"'""""""'"""'""w""'"'""<' 

Positions 14.0 15,0 1,0 t,1% 15.0 0,0% 

'''"""""""'~""'-""'"" 

,Employee Compen,atk,n 3,4.SS,616 3M3,m ~117,457 11.2% 4,127,rnl 2$11,s.!IS 7.4% 

Salatl!!S 2,439,214 2,70!l,9l9 .269,124 11.1'% :l,918,998 210,060 7.8% 

Benefits 1,016,461 1.134,194 117,73'.3 11.6% 1,208,720 74,526 6.6% 

Trl'IINl!I 117,00¢ S0,000 (67,00QI -51.3'11, S0,000 (I.()% 

Rent /Comm/Utll 38,500 32,SOO (6,000) -15.6% :l:l,500 0.()% 

.Admlnl!lratlw 100,!l!lO 174,400 6S,500 (,0.1% 144,41)0 (30;000) -17.:!% 

tonl'l'act:ed Services 1,744,000 2,279,5® S:35,.500 30.7% 2.::.m.soo (1-0% 

Total $ 1U'II> $ -iO'!li 

ASSET MANAGEMENT ANO ASSISTANCE CENTER 20:M--2025 BUDGET SUMMARY 

20Ulurd 2024 Propoffd 202J-2024 (:ttl!lllgE! 2021 Pl'OpOll-.d 2024--2025 Ch•1111• 

ApPl'OIN!dSuqid Budget Ch111ge Percent .. tChange Pilrcilllt 

Positions 211.0 23,0 1,0 4.i'llr 2J.O O.MI, 

• 1:niplcyee COlnpmsalllll'I S,OM,744 S,9SJ,01,l$ 927,354 1l!.~ 6,237,892 lSS,794 4.$% 

Salatle,s 3,$20,8)3 4,l!IS,669 664,116 18.9% 4,404,281 218,613 5.2% 

Benefits l,503,91T 1,766;489 262,578 '17.5% 1,833,611 67,121 3.8% 

Travel qs,200 125,280 [13,920) ·10.0% 125,280 ll,0% 

Rent /Commllltil f5,01:S 6,,113 (8,0021 ,S!l.3% 6,113 0.0% 

Mm!nlstratiVll 45/425 65,341 19,916 43.8% 6.5,341 0.0% 

Cor\lra,:t:ed SE!r~ii:iiis 1111,500 2117,500 149,000 U$.;>qjj 21l7.S.OO ().(1% 

Tobi $ $,342,ff4 $ 6,11,tf;UZ $ 1,013,448 .20,.1,0 $ f,702,12' $ 28$,794 4$.% 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75071 

Note: Minor rounding differences may 

occur in totals. 


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EASTERN REGION: 2024-2025 BUDGET SUMMARY 

202Homl 2024 Proponlll 20H4024 Olange 2025 Proposed 2024,.2025 Change 

Apptowdludget BUdgtlt Change Pen:ent Blldpt Cllal'iga Pllm1111 

Positions 2tl1.0 2$3.0 2,0 0.1'3⁄41 261.0 12.01 -0.$% ·"""'''"'""'""'"~''""""""''-'""''"""'"''"'' ,•,,,,."' .... ,.,, .... ., ... ,,._,'_ . ""' ,~, ,~--~ •,, ..... .,,. .. ~, '''"""""'"'"' .... , -,~. 

,Emp!O)lee Compemalion 52,216,123 . 53,612,li)!l 1,396,n.5 2.7% 56,162,171 2,549,333 4.8% 

Sillildti 3$,771,411 • 31,079,964 1,302 . .'W;I 3.6% 39,006,008 l,9:M,044 5;2% 

Benefits 16,4.38,646 16.$32,875 94,2211 o.6% 17,156,164 62.3,289 3.8% 

r,11~1 4,$14,0l.'W 4,001),000 (814,0QO) ·16,!l'I. 4,100,ll!lO 100,000 2,S% 

!lent /Commllltll 236,SSO 2!1S,610 51,760 21.9% 288,610 0.0% 

Ad!rln lstra!!ve • 226,620. 1119,200 (37,'12()) 189,200 1),()% 

Coritrac.tru:! S11r\ll(lli. ().()% 

totlll ,U% 

SOUTHERN REGION: 2024-2025 BUDGET SUMMARY 

20238Qard 2024 Ptoposed 2023--2024 Chante 2025 Proposed 2024-2025 Ch111nge 

Approwd Budget Budfet Chang• Pen;ent Budget Chang• Pen:mt 

Positions 231.0 232.0 1.0 0..4'!(, 2!11.0 11;01 "0.4% """"""'""""w'"'"''""m"'"~"""' '""""'""'"w"'""-''"'""'"'""''' 

Employee Compensation 43,1)3,790 45,976,367 2,842,577 6.6% 48,162,761 2,186,394 4.8% 

S.illll'ies 29,351,447 31,633,7'13 2,276,267 7.$% 33,279,516 1,645,803 5,2% 

Be11e,lit$ n;m1,:i44. 14,342,6$4 566,310 4.1% 14.$83,246 540,$92 ~.8% 

Travel S,'.564,511 5,220,020 (144,492') -2.7% !;,720,02-0 500,000 9.6% 

Fleilt l(omm/Utll 3&1,1.170 366,900 (2,770) -0.7% 366,900 0,()% 

Admlril;trative 2$?,!73 1114,210 (64,963) ·25:1% 194,.UO 0.0% 

Contrai:ted Stilfill<:<!l:'I 2Sll,16S 11.0,m ($7,9771 ·34,0% .110,788 0"1% 

Total $ $ S1,!128,28S $ !1,1% $ 

WESTERN REGION: 1:024-2025 BUDGET SUMMARY 

202:tlolilnl 2024 Propi>lled 2023-2024 Ch•nge 2025 Propo$ed 2Q24-20'.:t$ Change 

······-··-··'··-"""'"··""·········-·····"'····· Approved Budget. ______ Budget Change Pera!nl 8uttiet Change Peicent •'-•-'"''"'""W••"•""'-••••••'-•~""•~••-~• ""~'" •,"' ••••-••-•-•-•'--""" ·"----···~-·-- --~--.. ~ .. ~---•>--•• •• , ""·"' ••~~"w•~''-•'-•••'-'•'-•-'•'-"'"~"'-"''"'-""""" 

Position, 245.0 247,0 2.0 0.l!'M> 245.0 (2.01 •0,$% 

1:m!,)1¢\1" Gompt!l:)!iat!Ol'I 48,l49,:;IU S0,170,32$ l,&.li,015 3,8% 52,SS3,3!il 2,383,063 4.1% 

Salaries .33,079,737 34,(,(JS,296 1,525,559 4.6% 36,400,989 1,79S,6/ll2 5.2'%, 

Bel'll!f\1~ 15,269.$7.5 15,SIIS,031 295,456 1.9% lll,152,402 $81,m l.8% 

trawl 5,644,000 6,745,000 1,101,i;IQQ 19.5% 7,245,000 ~oo.@ 7.4% 

fle11t!Ctlm1WU.t1I 712,000 258,500 (4S.~;SOO) ·63,7% 2.5!1,SOO (l,0% 

Admlri!~tratlve l\\13,200 241,IIDO· 411,i!OO 25.1% 241,000 0.0% 

Corrtracted Services, 206,000 :m,.ooo 6,000 2.9% 212,000 0.0% 

'tottl $ 55,104,J:U $ 57,1121,428 $ 2,!i22,!11i'I ~ $ 60,1110,491 $ 2,$8!1,0G !i.:0% 
75072 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

IX. Appendix B: Capital Projects 


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NATIONAL CREDIT UNION ADMINISTRATION: CAPITAL INVESTMENT PROJECTS 

Dli¢rlptlon 211::!Jlloam 2024Propoffd 20Hflropo1tc:1 Approved 

lnfotmlrtlan Tltehnotogy IIMlfhllllllb 

Exkutlw Order on Cybem!curtty :3,070,000 Z.408,000 a.4so;ooo 

I.11for.ma11on Tl!Ch11<>1ogy 1nr1asiru,1ur11, Pli!tkllm 11nd 51\!1:U!'ity R~lhHh :i,139,000 1;294,000: 1,294,(l(l() 

c UllE Pro<:e$s Automation .· 1,100,000 . 

i>fflo1i11el Security<:ase l\ilanagei)li!!llt !>y$tlii1 .. (>30,(l()() ~.ooo 

MERIT EllhantGm11nu 1,260,000 ·540,000 2,430,® 

Microsoft Po.~r Piatfurm S00,000 . 

Data Colleclkln and Sharing Solul:(oo 2011,000 111,000 

NCVA Website Devtlopment 100,000 100.000 100,000 

Data Repol'tfngSolution 1,100;000 

Mobile Dllvice Refresh !1~9,000 - -

Enterp1iteSysh1mi: Mooernliatloo (E$Ml Da!a R~rorling Sen1i<::ll'S 700,000 .. - Continuous Oiagliostks and Mitigation (COM). 520,000 . . lndepei1d(!flt Veriftcliltion and \lall<latloo W&\ll Testing Team 4!56,00I) . 

Con1~1'rn1t Ac:ct\11 l'ro,fl~ i\lrid R11portin9 Information $)'$tffll (CAPmS) 400,000 .. . Enterprise Oii111 Prograin 3·50,000 . . Enhal'lCetl Testing Oipabllity 250,000 

Bal 1neu lrom <.0111pl<ntd priin,year 1)«11',l,:ts (1,000,000) . Antlclpatlld Additional lnro1matl011 ·rei:hnole1gy ln:vestmenu . m,ooo . . . "'""""'"'"' '""'" · .. .,,.,.,~,·-.... ,.,., ... ,.,,. ... : 

Total, -· ... $ 10,304,000 $ 6,180,000 $ !1;!120,000 

C11plt111I building lmpro-11 and rt!palR 

c~ir.il Offiice maln1enancuoo rep.all 472,000 411,000 4&0,000 

1Jlsasle1 rew11ery site move 500,000 . _,,, .. .. , .. ,,,, .. ,.,,,,,_,,~- .. '' . . .-.... ,,,_,,,,_ .. 

Tot.I, Capital buHdlng lmpl'OWmeats.md tep;\111'$ $ 972:,000 $ 477,000 $ 480;000 "'"'"''"''''"'"'""'""''"'"''' l'I'• '"~"'""''"'"'"''""""""'""'"~'""''"'""'""' "'"'""~ '''"'" "'""""-""'"""""""'W••~"'"'"'""" 

""~" 

Grand Tota~ Caplhl PrO,lt(b $ 11,276,000 $ 7,257,000 $ 10,000,0011 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75073 


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-t~ustomen/• 

• ~n~-fldarles 

t,tnkt:wN<'.!lIA· 

•• s~egtig~ls·• 

• IntenilikA.:llNCtTA 

. Exrert1al:_Ait credit Qni9ns_ 

• t1oaL3:.~1a~1niie 01·gat1faiatfotat·i:erforitilttl-0e ~Q~t~hle.n1is.<,1~1l .Sl~~$s;••·· 'Il•1g~n11ltii_· ·yeatca:pitat-mvcsftt1entv.i[tenaf?lc•1ncNCUAto,·complY:~ROt4208,.Jiclping,tbb 

·NctrA~hie:V~•Strafegiri•Obj®tivi•~-2~_.to••Jclivet,uiSfl:lcientμig:.tiiizjttiorial•tltsigri• 

............ .__ ~μppAftcd ~:t unPf'Atc~ brairic$.,•lp~~cs :.md'.-1.nn:0:vati~>h," •• . . ._ 

Pr4jed 

·-.-~~rljdm -.~ purpose-t)ftbe E()911cyll~cttri~•q~pital• .. ittvt\'>ttnet~:isto._.Qnsur~•t1~.e·_•~~UA 

{.)0'mpli~!l-Wl1b:•tc>: 14208, ·_[ffifif('jfrJ.f;Jgth<1..Natt,YfJ";j .Cj;•b~tt~'ilrlry.;·'l:het,ii~ect "dll 

•~teiat1Ptllprfat~i•,at>v1i,1a:ti6risJouse:Mtdtl~Da.c:torf\tithcttti¢atiQri{implmiti1ftZ;etii' 

Trust~~b.it~t~n;.fottl1e.¥qt).~1s_•inf;hi~trti\:lt~•andtlpplioati{)nSt mid __ ·sh1fLce~~--. 

sto~ge resour:ces:t11.1n1,011-pre1,1jse \o,<,.1.11ouctseryjcopl'OVid~, • • 

'Qi$Wme~ J~t~: All:.N~trA :~~~Ii~~-

•Linkt,fNCUA-

$WatqlC''pls. 

Ptoject 

description. 

$1294 ········'·---· 

This project wili allow the NCUA Office of the Chicflnformation Officer to peffonn 

t-eftesh ofnetwork and plaffimn hardware, as well as rni:grate new data.and 

· inuastru,.,~e:comp,ments to the cloud .. Investment in these projects helps ensure 

business continuity andefficientopendions hy imptovingsystem availability, stability, 

and security. Projects include refreshing hardware, software~ and the professional 

sct\'ices required tondgrateand liardeti.the IT senices for production.readiness. 
75074 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 


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Project name 

Project sponsor 

C'Ustomers/ 

knefjaaries 

JJudg~ 

LinktoNCtA 

strategic goills 

Pi·oject 

description. 

CUstomers/ 

.. 'ire~elidltti~ 

.. _ .. 

CURE.Process Automation 

Credit Union.Resources and Expansion 

I11temal: CURE stall' 

external; All credit uni<ms and organizing groups 

Un th®.sands Z0.23. 2024 lD25 2026 2027 

A,:;quisition .. $0 Sl,100 so $() $0 

Opcraiiom and Mafutcnancc so so TBD TBD TBD 

Goal 2: Iml!!ove thc:fmancial well-being ofiu.dhiduals and commUU:itics1hmug!1 

access to affordable an:d !!!filitable financial )!roducts and services. This capital 

iuvcstmcntwilisupporttechnology.cnhariccn1<.'tlts1oincreasc transparc1rcy·and · 

eflic:ieneyassoeiared ~ith field of membffihip exi,illlSimlS: and charters fornew 

credit tll'lions. 

·. 

The CURE Process Automation project ~ill develop too requinnnems for and 

support the fniplementatfon of the tools and t~hoofogyneeded fo provide. a web'" 

bas.xi port.tlfor credit unions mrd organizitiggtoUJ1$ to subtnittheir field of 

membersbip and new charter requests. lliis portal is e.,'pecte.d to inclu® fotmsf'or 

siibmission .of mfoimafion and data, tire ability to upload supporting files, ai1d a 

visible tiuieliue so that submitJers can sre the progress .on tooir application.. 

.. ·· ...... . : .. · .. ····... . .. •·· .. · 

it~~ 

projed:.will develop a centralized personnel securi:ty ca.o:emanagemem system fo 

serve as are.positocyfonill agency onboardiug :ind oflboarding actions, ..:onsistcnt 

with gmdance from ODNJ and OPM. 
Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 75075 


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Project name Modem Examination anti Risk ldt'Dtffimtion Tool (Mr,KH 1Enharu:emeJ1ts 

Project 

sponsor 

•. Office of Business Inn1J\1lfion.ami Office of the Chief Information Officer 

Customen/ Internal: E&l, ONt;s, Regions. OCIO, CURE,. OHR, and OC.liP 

tieneficia1ies External: Credit Unions, SSc.\& • • • 

Linkto 

NCUA 

strategic 

goo]s 

2025 2026 

Acquisition $540 $2,430 

Operations & SI2,619 $13;2:71 

• Maitrtcnance 

"An additional $2161( is funded in 1he proposed 2024 Shareln.'rurat!ceFnnd 

Administrative ElQ)el1St1S .Budget tosupport certain rt1vi:ews ofFISCUs. 

2027 

$1,600 

Goal 1: Ensure a Safe and Sound Credit L1iiion SVstem. The MERIT system enables 

credit union examinets to fulfill NC.CA stralegic objective L2. ''provide lugh-qualityilrld 

efficient supervision,= by providing a more effective. and secure examination tool. 

Goal 3, Maximizeorn;anizationalperformaooe to enable missfon success. Th.: MERIT 

system enahlell. credit wion examiners to perform their wolk more efficiently, helping the 

NClfA achieve strategic obj~ive 3.2, ''deliver an cllicient orgiuiizational design 

supported'.by improved business pro..~ al1d innovation.'' 

Pro.fed Ill 2024, the !'.'CUA wl11 continue to mvest ill.MERIT andititrelated suite of exammation 

descriptioo al1d supervision solution toois. Capital t1mdmg,vil1 be u..-1 to deploy new features, 

implement emiailcements to impr:ove the user ei'J)erience,.and met.ease staff efficiency by 

automating1he testmg process. In .addition, thi1! reque.'lt supportllenhancements to import 

data from thdSEToolbox mto. Finally~ the proposed 2024 Share I11sur.mce Fund 

Administrative Expen~ &dg.it includes :funding to modify MERIT to support reviews 

associated with cr.xlit union purchas"' at!d assumption agreements with other institutions. 

Offiec of the Chief litfumtation Offici:t(QCIO) 

~fuirsi •••• •••• li:ttei'ro\t;~n ~tiQA Qtlk#f 

Jeneticm~ 

Lbtkto.NCUA 

s~ci-m-

.Project 

descriptiffll 

ssoo 

.Ooall: Emurea.imfe.andsoundc~unionsystem. .~vidin,gi;umiott.ibr~ 

MPf ~Ul•cnabk.stlitftobctt¢tfutfdl·ffteit:~Qtisibilitytri:•:Pfuvidclii~b,~ity 

~~enlcient5upervi~fon,"whi~is:•s~®Jectlyi:·1.;2, .. by~idingemb~g 

:tj~t,l¢Velopineμt~~rille:,~ti~t~\ 

• Goal 3: Maximize organizauorutl performance to enable mission Sl.WCess; the OCIO 

leant.\-ill "deliver an efficknt organizational design supported by improv<Cld business 

processes l!lld inno,'lltfon." The implementation and governance of these new :MPP 

toolswill ensure citizen deve1opill'S ha,~ 1hi appropriate support they need to 

establish effective capabilities in l'owetApps, Power Automate, PowetBL and 

Pow..f Virtual Agent tools. 

The MPP ~ aline ofbusiness intelligem.--e~ applkation development, and automation 

tools which ate all part of the Microsoft Office 365 environment 'These resources 

·will suppm'f development of an h,lPP governance plan,. effectively mooif.Qt and 

manage J.tPP usage across the NCUA,, and pto,ide IT suj)port to ageney11Sets, 
75076 Federal Register / Vol. 88, No. 210 / Wednesday, November 1, 2023 / Notices 

[FR Doc. 2023–24032 Filed 10–31–23; 8:45 am] 

BILLING CODE 7535–01–C 

NUCLEAR REGULATORY 

COMMISSION 

[Docket No. 70–1113; NRC–2023–0179] 

Global Nuclear Fuel—Americas; 

Wilmington Nuclear Fuel Fabrication 

Facility 

AGENCY: Nuclear Regulatory 

Commission. 

ACTION: Environmental assessment and 

finding of no significant impact; 

issuance. 

SUMMARY: The U.S. Nuclear Regulatory 

Commission (NRC) is reviewing the 

amendment submitted by the Global 

Nuclear Fuel—Americas (GNF–A) of 

Special Nuclear Materials (SNM) 

License SNM–1097 for the Wilmington 


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Proieets~ 

~o,,mnt 

beneftcii~ 

Link.to.J.YCUA 

stta~~: 

•Pro~. 

~ption 

Pro.fed; 

il~riiptim. 

•• Jntemm:i\iiNPtli\.bffil:I~ 

:E:~etilal: ¢t'e44\Irii~~l\;,qteit~iJ~ioi\';~i~6,g~zitti91c11t•ttftj~j..ff.llfe··• ~~. CreditliriionMem.bcm • • 

2024 24127 

A;couisiti(m $0 

$0 

,C1e;t•t:·•·~•··!lS1if@s·sountl,lttld•viabl~•.~~··•~f~v~£T§ditthatmgts~~• pqmipra, .•. I>e~•will.faqilitatel\."CUA.sbtegfuoh,ieeti~el,.l;~cw~etrective•flhd· 

~ftiqi~'t\$~~~n;"~}reffl,¢(enU}'~llc~~~il~~Qi.'ti~•~··wimiiiilprnv~li 

~l?~~.$μ:~mn1m!mWtl.~t~iti.~;a,,"'~~·p~t11,tJ?~~"" 

and ~~ /:hitai 

Qbat:t~Max'.ittiizeiltgittizmionaf Pert:~toertahfo•misJionsumll: [)(.;~~hi··• 

it~\!e~ef;t!¢i~~roftheWCJlJ~~~\\'llTK~~irls~Qf~pDA 

~c •. qb)iietiya.Si2t~e1iyer~g~~b\1S~.~ •• $llp1'(iltetib)'S~~--. imi~vati~;antJ.~lial!t# t~clut~lo~r~lutl.uits.!m~<llltlit·•'$~~ly.·.irtJplem~itin~ 

'toQ~••ttfsupp~~JNqt!'A:'r{ili.ita~~~~~~.~?tkflQW~g'em~t;on~nt 

ntmage~i ~trtmanagement;,andfoggitlgt'otlilS!lignmet1tiit1dffilmiiictit'n'i tt~ .. ·... · .. ··.·····•.···· ........... ······ ·········· .·.· ..... . 

·.Office··ofE:mmal.A:ffaits,ttni$Comi111il1icatiooS•.(QEA~) 

.. ... ······ .. . .. 

··.·· .· ....... _ ... _ ............. . 

. In·29M~·l'>ud~eiJo.r.:lqCIJA.we~i~.·d~ve}Qpmentwill.~ 11~e4.·\<l ttnpl"o,Ye :=!ih:;1!:::::!==::::~;v~~;s; 

ltiiprm.•fttg ·the Naflon~~Cyber,,;ect1.rity. atld otherproje.cts to ·etihatice web11ite 

functionality, improve user experience.~uee duplicati()ll of efforts, and provide 

gre.ater brand cohesion. • •