87608 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 

from the date of any transaction related 

to the Purchase, in a manner that is 

convenient and accessible for audit and 

examination, the records necessary to 

enable the persons described in 

paragraph (m)(1) below to determine 

whether conditions of this exemption 

have been met, except that (i) a 

prohibited transaction will not be 

considered to have occurred if, due to 

circumstances beyond the control of the 

Plan’s trustees and/or the Qualified 

Independent Fiduciary, the records are 

lost or destroyed prior to the end of the 

six-year period, and (ii) no party in 

interest other than the Plan’s trustees or 

the Qualified Independent Fiduciary 

shall be subject to the civil penalty that 

may be assessed under ERISA section 

502(i) if the records are not maintained, 

or are not available for examination as 

required by paragraph (n) below; and 

(m)(1) Except as provided in section 

(2) of this paragraph and not 

withstanding any provisions of 

subsections (a)(2) and (b) of ERISA 

Section 504, the records referred to in 

paragraph (l) above shall be 

unconditionally available at their 

customary location during normal 

business hours to: 

(i) any duly authorized employee or 

representative of the Department or the 

Internal Revenue Service; 

(ii) the Plan’s trustees or any duly 

authorized representative of the Plan’s 

trustees; 

(iii) the Qualified Independent 

Fiduciary or any duly authorized 

representative of the Qualified 

Independent Fiduciary; 

(iv) any participant or beneficiary of 

the Plan, or any duly authorized 

representative of such participant or 

beneficiary; 

(2) Should Lodge 4 or any party refuse 

to disclose information to a person on 

the basis that such information is 

exempt from disclosure, such party 

shall provide a written notice advising 

that person of the reasons for the refusal 

and that the Department may request 

such information by the close of the 

thirtieth (30th) day following the 

request; 

(n) Within 30 calendar days after the 

Property is purchased, the Qualified 

Independent Fiduciary must provide to 

the Department a written certification 

that all of the exemption conditions 

have been met and must provide to the 

Department the Statement documenting 

its conclusion that the Proposed 

Transaction is in the Plan’s best interest; 

and 

(o) All the material facts and 

representations set forth in the 

Summary of Facts and Representations 

are true and accurate at all times. 

Exemption Date: If granted, the 

exemption will be in effect as of the date 

the grant notice is published in the 

Federal Register. 

Signed at Washington, DC, this 30th day of 

October 2024. 

George Christopher Cosby, 

Director, Office of Exemption Determinations, 

Employee Benefits Security Administration, 

U.S. Department of Labor. 

[FR Doc. 2024–25583 Filed 11–1–24; 8:45 am] 

BILLING CODE 4510–29–P 

NATIONAL CREDIT UNION 

ADMINISTRATION 

[NCUA–2024–0135] 

The NCUA Staff Draft 2025–2026 

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 22, 2024, 

budget briefing must be received on or 

before November 13, 2024. Written 

statements and presentations for those 

scheduled to appear at the budget 

briefing must be received on or before 

1 p.m. Eastern, November 18, 2024. 

Written comments may be submitted 

by November 27, 2024. 

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 

13, 2024. Include your name, title, 

affiliation, mailing address, email 

address, and telephone number. The 

NCUA Board Secretary will inform you 

by November 14, 2024, 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 1 p.m. 

Eastern, November 18, 2024. Your 

presentation must be delivered in 

person at the public budget briefing. 

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 27, 2024, 

through the Federal eRulemaking Portal: 

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

number is NCUA–2024–0135. Follow 

the instructions for submitting 

comments. 

• Copies of the NCUA Draft 2025– 

2026 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. Introduction and Strategic Context 

II. The NCUA Budget in Brief 

III. Key Themes of the Proposed 2025–2026 

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 

X. Appendix C: Glossary of Terms and 

Acronyms 

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 2025–2026 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 


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Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87609 

1Source: NCUA quarterly call report data, second 

quarter 2024. 

2See 12 United States Code (U.S.C.) 1752a(a). 

3See 12 U.S.C. 1766(i)(2). 

4See 12 U.S.C. 1755(a)–(b). 

5See https://www.federalregister.gov/d/2023- 

28303. 

6See 12 U.S.C. 1755(d). 

7See 12 U.S.C. 1783(a). 

resources proposed in the staff draft 

budget are to carry out the agency’s 

operations in 2025 and 2026. 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 Friday, November 22, 

2024, at 10 a.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 BudgetBriefing@

ncua.gov by November 13, 2024. 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 

22, 2024, 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 1 p.m. 

Eastern, November 18, 2024. 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 27, 2024, through the Federal 

eRulemaking Portal: https://

www.regulations.gov. The docket 

number is NCUA–2024–0135. 

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 2025–2026 budget. 

By the National Credit Union 

Administration Board on October 30, 2024. 

Melane Conyers-Ausbrooks, 

Secretary of the Board. 

I. Introduction and Strategic Context 

About the NCUA 

Credit unions have provided financial 

services to their members for more than 

100 years. Credit unions are not-forprofit financial cooperatives created to 

serve a membership with a common 

bond. 

In 1970, the U.S. Congress established 

the NCUA as an independent federal 

agency to regulate, charter, and 

supervise federal credit unions. The 

NCUA operates and manages the 

National Credit Union Share Insurance 

Fund (Share Insurance Fund) with the 

backing of the full faith and credit of the 

United States, insuring the deposits of 

the account holders in all federal credit 

unions and most state-chartered credit 

unions. 

As of June 30, 2024, the NCUA 

regulates and supervises 4,533 federally 

insured credit unions, which have 

approximately 141 million members 

and more than $2.3 trillion in assets 

across all states and U.S. territories.1

Statutory Authority 

Pursuant to the Federal Credit Union 

Act, authority for NCUA management is 

vested in the NCUA Board. The Board 

determines the resources needed for 

carrying out the NCUA’s responsibilities 

under the Act.2 The Board is authorized 

to expend such funds and perform such 

other functions or acts as it deems 

necessary or appropriate, per the rules, 

regulations, or policies it establishes.3

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 considers federal credit 

unions’ ability 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.4 In December 2023, the Board 

approved a notice with changes to its 

methodology for determining the 

operating fees due from federal credit 

unions.5

Pursuant to the law, the NCUA 

deposits 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.6 Per its authority to use the 

Share Insurance Fund to carry out its 

insurance-related responsibilities, the 

Board approved an Overhead Transfer 

Rate (OTR) 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.7

Mission, Goals, and Strategy 

The proposed budget for 2025–2026 

supports the NCUA’s fourth year 

implementing its 2022–2026 Strategic 

Plan. Throughout 2025 and 2026, the 

agency 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: 

• Ensure a safe, sound, and viable 

system of cooperative credit that 

protects consumers. 

• Improve the financial well-being of 

individuals and communities through 

access to affordable and equitable 

financial products and services. 

• 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. 

The NCUA’s Annual Budget Process 

Each regional and central office 

director at the NCUA develops an initial 

budget request identifying the resources 

necessary for their office to support the 

agency’s mission, goals, and objectives. 

These budgets are developed to ensure 


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87610 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 

8Budget information presented in this document 

excludes funding for the CLF, which has its own 

budget reviewed and decided upon separately by 

the CLF Board. 

requirements are individually justified 

and remain consistent with the agency’s 

overall strategic framework. This effort 

also includes a field-level review of 

every federally insured credit union to 

estimate the workload to carry out credit 

union examinations in the forthcoming 

year, which is translated into the cost of 

the staff and associated expenses 

necessary to meet the agency’s safety 

and soundness goals. In addition to this 

workload analysis, each NCUA office 

estimates its fixed and recurring 

expenses, such as for employee travel, 

rental payments for leased property, 

operations and maintenance for owned 

facilities or equipment, supplies, 

telecommunications services, major 

capital investments, and other 

administrative and contracted services 

costs. 

The Office of the Chief Financial 

Officer presents draft budgets to the 

public on the agency’s website and in 

the Federal Register as part of the 

NCUA Board’s commitment to 

transparency in the agency’s budgeting 

processes. The Board also holds a public 

briefing about the draft budget and 

facilitates dialog between public 

stakeholders and NCUA staff to develop 

a common understanding of the 

agency’s resource needs. The NCUA is 

the only Financial Institutions Reform, 

Recovery, and Enforcement Act agency 

that releases such a detailed draft 

budget and solicits public comments on 

it. 

The NCUA Board reviews the 

comments from the public about the 

draft budget and makes revisions in 

response to stakeholder views, 

individual Board office priorities, and 

changing economic conditions. The 

Board then approves the final budget 

levels and the associated OTR and the 

operating fees paid by credit unions to 

finance the agency’s programs. 

II. The NCUA Budget in Brief 

Proposed 2025 and 2026 Budgets 

The NCUA 2022–2026 Strategic Plan 

sets forth the agency’s goals and 

objectives that drive the agency’s 

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.8

The NCUA’s 2025–2026 staff draft 

budget justification includes three 

separate budgets: the Operating Budget, 

the Capital Budget, and the Share 

Insurance Fund Administrative 

Expenses Budget. Combined, these three 

budgets total $433.0 million for 2025, 

which is $0.3 million lower than the 

$433.3 million 2025 funding level 

approved by the NCUA Board as part of 

the two-year 2024–2025 budget. 

Three significant factors, when 

combined, account for most of the 12.2 

percent increase in the total budget 

between 2024 and 2025: 

1. An increase of $25.9 million in 

funding for contracted services for 2025 

compared to 2024. Of this amount, 

approximately $18.0 million results 

from a lower 2024 surplus carried over 

as part of the 2025 budget when 

compared to the surplus carried over 

from 2023 as part of the 2024 budget. Of 

the residual $7.9 million increase for 

contracted services, much of the 

additional funding will 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 for recently delivered 

capital investments. Other increased 

costs include general price inflation for 

core agency business operation systems 

such as accounting and payroll 

processing and various other recurring 

support costs. 

2. An increase of $19.5 million for 

current employee compensation in 2025 

compared to 2024. 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. A proposed increase of 14 positions 

compared to 2024, which equates to a 

headcount increase of 10 positions and 

four positions approved by the NCUA 

Board in the 2024 budget for 2025. Of 


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Budgat 

Opr.dlng 

Budgat 

Capital 

Budgat 

' l

j!ihar-. !:tr.nm 

Admln. 

Budgat 

Total2024BoanlAppmved 

Budglll 

$374,494,000 

~.18!1,000 

$5,142,000 

Ues,mspao 

20l5 

Raq1111sted 

Budget'"' 

$41 !1,325,000 

$8,201,000 

S.5,500,000 

$4H,OJ4,00D 

2025-2026 NCUA BUDGET RESOURCES 

•Poiunt; 

Chal'lflll • Change• 

(llllol-.2025) l l.2024- • , 20251. 

20ll 

Raqumed 

Budgat 

; Poiunt, . Position 

Chal'lflll • Change; lll»• 2~ .20llP ' Olanga 

llll25-20JIGJ , l.2025- ' Positions Polltlans Positions' (24- (25-o 

• :1026) , ; 25) 26) 

----·-~-

S 44,tm,OOO; 12.0'll,: $450,ffll7,000 S 31 ,2112,000 7.5%\ 1,247 1,2lH 1,272' 14 11 

$ 2,020,oooj 32.6%: $12,500,000 s 4,2!11,000. 52.3%' 

s 353,0001 7.ll'll,' $5,lM,000 s (134,DOO} • -24%' 

-~-~~--

$17,.ZOl,OIIO i 12.2'J!i, : $4111,473,000 $55,431,00D ; 11,2'J!i,; 1,247 1,.261 1,272 14 11 

* All position levels exclude positions funded by the Central Liquidity Facility (CLF). 

** 2025 Requested Budget is $0.3 million lower than the 2025 funding level approved by the NCUA 

Board as part of the two-year 2024-2025 Budget. 
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87611 

9These positions are also known as ‘‘overhire’’ 

positions and are funded by surplus pay and 

benefits budgets that result from vacancies. 

the 10 positions recommended in the 

staff draft budget, eight are new 

positions and the remaining two are 

existing positions currently unfunded in 

the 2024 budget.9 Explanations for each 

of the proposed new positions are 

included later in this document. 

Proposed 2025 Operating Budget: 

$419.3 Million 

The following chart presents the 

major categories of spending supported 

by the proposed 2025 Operating Budget. 

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). 

BILLING CODE 7535–01–P 


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Employee Pay 

& Benefits ---

74.5% 

2025 Operating Budget 

Total 

rating Bud 

$419.3M 

Travel 

/5.3% 

~ommunications/ 

"' - Utilities 

"' 1.6% 

Administrative 

~ 12% 

Contracted Services 

17.4% 

Note: Minor rounding differences may occur in totals. 
87612 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 

Proposed 2026 Operating Budget: 

$450.6 Million 

The Operating Budget estimate for 

2026 is $450.6 million and includes 11 

additional positions compared to the 

2025 level. 


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NCUA Operating Budget per Million Dollars of FICU Assets 

Millions 

$300 

Trillions 

$2.S 

$270 

$240 

$210 

$180 

2.30 

...... Federal Deposit Insurance Corporation (FDIC) Operating Budget, Office 

of the Controller of the Currency (OCC) Budget Activity, and Federal 

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

•··· NCUA Budget per Million $ of FICU Assets (left scale)* 

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

Source: NCUA Annual Budgets, Call Reports, FDIC, OCC, and Federal Reserve financial reports 

$2.0 

$1.5 

$1.0 

$0.5 

* Budget per million $ of FICU assets is calculated as the fiscal year's budget divided by the 

previous year's end-of-year assets (e.g., 2025 draft budget/projected FICU assets as of fourth 

quarter 2024). 
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87613 


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Proposed 2025 Operating Budget Summary 

tS:U 

l,S0.3 

The pay and benefits acljustment includes funding for the 

proposed staffing increase of 14 position$, net, for critical 

.areas neeessazy to operate as an effective federal fm:mcial 

regulator capable of addressing emerging issues. 

Additionally, the increase in pay and benefits includes merit 

and locality pay changes anticipated for 2025. 

+ 10.5% The trav-el budget increases by $2.1 million in 2025 

compared to 2024. 

- 4.3% Rem, communications, and utilities budgets pay for essential 

workspace, telecommunications, data capacity, and network 

support. The 2025 increase results primarily from new costs 

for rent and data smwis for a disaster reco\c-ery site. 

- 31.8% Administrative expenses primarily support operational 

requiremfflts. relocation expenses. and employee supplies. 

t $25J> + 55.l % Contracted servwis reflect costs for products and senwis 

acquired from the commercial madcetp1ace and include 

mission-critical servwis, such as information technotogy (IT) 

acquisitions and .support setv-ices, accounting and auditing 

sen-ices, and specialized subject matter expertise. Most of 

the increase in this categoiyresults from anSlS.O million 

difference in budget suq,lus from prior years. The increase 

also includes funding to address new and evon-ing risks, 

operations and maintm:ance recemly delivered capital 

investments, and contraetuai price inflatioo for business 

systems and senwis. Starting in 2025, the contiacted 

sen-ices categmy also reflects fees paid by NCUA to the 

Federal Fimmcial Imtitutions Examination Council (FFIEC). 

*Percentage change is based upon exact amounts reflected in the table, "2025-2026 

Proposed NCUA Operating Budget Summary." 

**Total staffing levels do not include five positions funded by the CLF. 
87614 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 

BILLING CODE 7535–01–C 

Proposed 2025 Capital Budget: $8.2 

Million 

The proposed 2025 Capital Budget is 

$2.0 million higher than the 2024 

Board-approved budget. 

The Capital Budget supports the 

NCUA’s ongoing effort to modernize its 

IT infrastructure and applications. 

Funding in the Capital Budget for 

upgrades to or replacement of obsolete 

IT systems is higher in 2025 than in 

2024 and includes an increase in capital 

investment for cyclical system updates 

to the Modern Examination and Risk 

Identification Tool (MERIT) 

examination system. Other IT 

investments in the proposed 2025 

Capital Budget include funds to ensure 

that agency systems comply with 

evolving cybersecurity requirements 

required of all federal agencies, 

enhancements to agency information 

security, investments to begin 

transitioning legacy hardware to a 

cloud-based storage environment, 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 

$480,000 for NCUA facility maintenance 

and improvements. 

Proposed 2025 Share Insurance Fund 

Administrative Expenses: $5.5 Million 

The proposed 2025 Share Insurance 

Fund Administrative Expenses Budget 

is $0.4 million higher than the 2024 

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 


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Proposed 2026 Operating Budget Summary 

1.272 

$24.2 

$7.!> 

$5.9 

$83.5 

tU + 0.,% The 2026 position level increases by 11 positions from 1,261 

m:ommeadcdfor2025.** 

The pay and bene1it$ bu«iget ii.projected to increase in 2026 

to pay forcompeasation acljustments for on-board employees 

and for the cost of MW staff hired in 2025 and 2026. • 

+ U% Trawl eosts are profected to inctease due to price inflation 

and anat,ional training confereri.coplatmed for NCUA 

employees in 2026. 

t Sl.1 + 15.4% ~ communications. and Ulilltieseosts ate projected to 

increase modst1y to reflect a lllllional training conference 

platmed for NCUA employees in 2026. 

t SO.I + 14.7% Admini.strat.iw expenses are projected to increase sligbtly to 

reflect a lllllional tra.inir)g COJ1fenmce platmed for NCUA 

employees in 2026. 

f$10.5 + 14.4% Comracted services retlect costs for products and sen-ices 

acquin,d from the commercial markdplaee. The proposed 

2025 budget for contracted services includes an offset ofSS 

million from estimated prior-year bu«lget surpluses. which is 

not expected to be available again in 2026. 

*Percentage change is based upon exact amounts reflected in the table, "2025-2026 

Proposed NCUA Operating Budget Summary." 

**Total staffing levels do not include five positions funded by the CLF. 
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87615 

10The NCUA’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 consider 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. The NCUA collectively refers to 

CAMELS 4 and 5 credit unions as ‘‘troubled credit 

unions.’’ 

11See https://ncua.gov/files/agenda-items/ 

strategic-plan-20220317.pdf, page 6. 

12See https://ncua.gov/regulation-supervision/ 

letters-credit-unions-other-guidance/board-directorengagement-cybersecurity-oversight. 

Management and Assistance Center 

(AMAC) operations. 

III. Key Themes of the Proposed 2025– 

2026 Budget 

Overview 

The proposed 2025–2026 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 Capital 

adequacy, Asset quality, Management, 

Earnings, Liquidity risk, and Sensitivity 

to market risk (CAMELS) ratings 1 and 

2 has decreased each quarter since 

December 2021.10 Between the reporting 

periods of December 31, 2021, and June 

30, 2024, credit unions with composite 

CAMELS 4 and 5 ratings and total assets 

greater than $500 million increased 

from 2 to 9, while these credit unions’ 

insured shares increased from $4.4 

billion to $13.8 billion—an increase of 

214 percent. During the same period, 

credit unions with composite CAMELS 

3 ratings and assets greater than $500 

million increased from 15 to 66, and 

their insured shares increased from 

$11.3 billion to $127.0 billion—an 

increase of 1,024 percent. Under the 

agency’s rules, credit unions with total 

assets greater than $500 million are 

considered complex. Liquidations of 

such complex credit unions would 

cause greater losses for the Share 

Insurance Fund than non-complex 

credit unions. 

The NCUA must have the necessary 

resources to continue to monitor credit 

union performance and mitigate risks at 

these complex credit unions and all 

other non-complex credit unions 

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. The agency is 

committed to maintaining a workforce 

with integrity, accountability, 

transparency, inclusion, and 

proficiency.11 The NCUA will continue 

investing in its workforce through 

training and development, ensuring 

employees have the skills they need to 

work effectively. These investments will 

also facilitate the agency’s succession 

planning as it undertakes a generational 

leadership shift as the Baby Boom 

cohort retires. 

The proposed 2025–2026 budget 

includes investments across a range of 

NCUA priorities, including: 

• Ensuring robust cybersecurity in the 

credit union system and at the agency. 

• Continuing to strengthen and 

mature analytic capabilities and 

capacity in the areas of fraud and antimoney laundering, quantitative 

analytics and stress testing, and climaterelated financial risk. 

• Recalibrating examination and 

supervisory oversight over credit unions 

based on a prioritization of the risks 

presented to the system. 

• Providing program and staff 

resources to increase assistance to small 

credit unions and credit unions 

designated as minority depository 

institutions (MDIs). 

• Expanding the resources allocated 

to 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 

NCUA’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 and growing risks to all 

organizations. The NCUA places credit 

union cybersecurity as a top enterprise 

and supervisory priority because of 

continued attacks on the nation’s 

financial sector and the broader national 

critical infrastructure. 

Supervision of Credit Union 

Cybersecurity 

The NCUA engages in interagency 

cybersecurity preparedness as a member 

of the FFIEC and of the Financial and 

Banking Information Infrastructure 

Committee. The NCUA monitors cyber 

threats identified by federal and nonfederal 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 ONES employ highly trained 

regional information security specialists 

for information security examinations 

and supervision of credit unions. 

All credit unions will periodically 

receive an information security 

examination as part of the agency’s new 

Information Security Examination 

program (ISE). The ISE uses a riskfocused 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.12

• 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 


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practices found in the FFIEC 

Information Technology Examination 

Handbook, regulatory guidance, and 

leading industry standards like the 

National Institute of Standards and 

Technology’s (NIST) Cybersecurity 

Framework. The ACET also provides a 

plain-language 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 

2025. 

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 Act (FISMA), 

and government-wide policy such as the 

NIST’s Cybersecurity Framework, and 

Executive Order (E.O.) 14028, Improving 

the Nation’s Cybersecurity. Based upon 

the most recent FISMA reporting 

metrics, the NCUA earned a Level 4 

maturity rating for its information 

security program. This is the highest 

rating the NCUA has earned to date and 

demonstrates the agency’s commitment 

a strong cybersecurity posture that 

mitigates risk and protects sensitive 

data. The proposed 2025 budget 

includes over $22 million for the cost of 

compliance with and implementation of 

these requirements, of which $3.2 

million is budgeted for capital 

investments. Many government 

cybersecurity requirements are not 

necessarily expected of nongovernmental entities; however, as a 

federal agency the NCUA must 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. 

Since this review, the NCUA added 

specialist positions to each of the 

regions in two separate phases. These 

new specialist positions were offset by 

a reduction in general examiner 

positions throughout the regions. These 

positions are now fully annualized in 

the 2025 budget and no new specialist 

positions are proposed in the 2025 

budget. The proposed 2025 budget 

recommends a net reduction of 10 

positions across the NCUA’s three 

regions. The draft budget is based on 

certain adjustments to the examination 

program that result in a net decrease in 

the staff time required to carry out the 

examination program. These changes 

would provide incentives for federally 

insured credit unions with assets 

between $1 billion and $10 billion to 

remain very sound. In return, sound 

practices at credit unions would allow 

the regions more flexibility to work with 

state regulators on coordinating joint 

examinations and reduce the time 

between exams for certain federal credit 

unions whose practices and 

management necessitate closer scrutiny. 

These changes would also result in a 

further cycle-time extension between 

exams for well-managed and wellcapitalized smaller and mid-sized credit 

unions. 

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, fair, 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 2025 

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 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 

The NCUA’s consumer financial 

protection program supports the 

agency’s statutory responsibility and 

strategic goal of ensuring a safe, sound, 

and viable system of cooperative credit 

that protects consumers. Within the 

division of fair lending supervision, 

NCUA staff conduct targeted fair 

lending examinations at federal credit 

unions to assess compliance with 

federal fair lending laws and 

regulations. These reviews are critical to 

identifying discriminatory lending 

patterns or practices and to reducing 

barriers to economic equity. Past 

examinations conducted by NCUA 

examiners have identified patterns or 

practices of discrimination violations, 

illegal race-based redlining, indirect 

lending pricing concerns, systemic 

Home Mortgage Disclosure Act 

violations, Regulation B notification and 

government monitoring information 

violations, and numerous instances of 

inadequate fair lending compliance 

management systems, including those 

related to discrimination based on age 

and marital status. 

In 2024, the NCUA joined the other 

Federal Financial Institution 

Examination Council agencies to issue a 

statement of examination principles 

related to valuation discrimination and 

bias in residential real estate lending. 

The staff draft budget includes funding 

for the current division of fair lending 

supervision and for one new program 

officer who will help to develop Home 

Mortgage Disclosure Act analyses and 

examinations, oversee the annual fair 

lending examination selection process 

through outlier analysis, and fulfill fair 

lending speaking and Freedom of 

Information Act requests submitted by 

the public. 

The agency is also engaged in a 

project to develop an expanded 

consumer compliance examination and 

enforcement program. That project will 

develop and be implemented over the 

course of several years. 

Chartering Investments 

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, aiding 

entrepreneurs in starting a business, and 

helping to create jobs and strengthen 

communities. To extend financial 

services to more individuals and 

communities, the 2025 capital budget 

supports a multi-year process 

automation project to implement an 

external facing portal that will make it 


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Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87617 

easier for organizing groups to submit 

new charter applications. When this 

project is complete, organizing groups 

will be able to upload forms and 

supporting files and track the status of 

their submissions through an intuitive, 

user-friendly interface, significantly 

reducing the time to process these 

requests. 

IT Enhancements: MERIT and Cloud 

Migration 

Two information technology 

investments in the 2025 budget support 

efforts to create cost efficiencies and 

avoid cost escalation in future years. 

The NCUA recompeted the operations 

and maintenance contract for NCUA’s 

examination platform in 2024. The new 

contract reduced the estimated cost of 

core MERIT Operations and 

Maintenance (O&M) support activities 

by $1.7 million for the 2025 operating 

budget when compared to the cost of the 

previous support vendor. 

Migrating to a cloud computing 

environment offers significant 

advantages by enhancing efficiencies 

and improving security. By moving IT 

services from physical datacenters to 

cloud service providers, the NCUA can 

lower the risk and expense of 

maintaining physical infrastructure 

such as servers, storage, and networking 

equipment. Cloud infrastructure also 

enables faster and more efficient 

deployment of new services and system 

upgrades. This scalability leads to 

greater operational flexibility, reducing 

the time and cost of managing 

information technology operations. 

Furthermore, cloud service providers 

offer advanced cybersecurity measures, 

ensuring that data is protected with the 

latest encryption and security standards, 

enhancing the reliability and security of 

the NCUA’s information technology 

environment. By leveraging cloud 

services, the NCUA can focus its 

resources on innovation and missioncritical tasks, rather than on costly and 

resource-intensive management of 

physical infrastructure. 

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 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 an overview of the Operating 

Budget. 

Pay and Benefits. Pay and benefits 

increase by $19.5 million in 2025, or 6.7 

percent compared to 2024, for a total of 

$312.3 million. Pay and benefits costs 

make up approximately 74.5 percent of 

the annual NCUA Operating Budget. 

There are four primary drivers of 

increased costs in 2025 for the pay and 

benefits category: 

• Merit and locality pay increases for 

the NCUA’s employees are paid per 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 the U.S. Office of Personnel 

Management (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 2.7 percent in 

2025 compared to 2024. OPM’s current 

assumptions for actuarial valuation of 

FERS remain unchanged in 2025 but 

remain a cost driver for the agency’s pay 

and benefits growth. Because the NCUA 

must contribute 18.4 percent of 


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2025 - 2026 NCUA OPERATING BUDGET SUMMARY 

20::Mloard :ams Raquestad 2.mwms Change zme Raquestad zms.zme ! Chang• BudglttCadClhgoiy Apprond Budgltt Chang• Permnt Budgltt Chang• l'illrclnt Budget .................,,,,~~J,._ 

limploJN l 

canpa,111:llln $ Bl,7113,000 $ 312,275;000 I !J,4!12,000 li.1'11, $ 329,172;000 11>.-1,000 l !i.'ffl 

j 

Salalm $ 202,972,000 $ 217,680,000 14,108,000 7.2.'lli $ 230,427;000 12,747,000 !I.fl 

Bandt1 $ 811,811,000 $ !14,5115;000 4,7114,000 !i.3'11, $ !18,745;000 4,150,000 

Tlawl $ 211,012,000 $ .22;10$,000 2,ll!J3,000 10.5% $ 24,210,000 2,105,000 -!1.5% 

llllnt IC'onimlUlllltltiii $ 7,136,000 $ •.u2;000 131)4.~ -4.3'11, $ 7,182,000. 1,11511.000 15.'ffl 

Admlnlllntlff $ 7,4!14,000 $ S,10!>,000 ~-~ -.31.11'11, $ S,ll!>D;OOO 750,00I) 14.7'11, 

C.Onhadlld Samms $ 47,069,000 $ 73,ll04,IIOO 25,!lll.000 .i!i.1'11, $ 113,484,000 10,4IO,OOO ,_ 

Total $ IN,.4N,DDD $ 411 .. HI..C- ..... ,..- 12.- $ 4!JG,80'1..C- 11,:u:a,,aao 7 .... 
87618 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 

13The 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). 

14 Does not include five positions assigned to the 

CLF. 

employee salaries to the retirement fund 

in 2025, the estimated impact on the 

NCUA budget is an increase of 

approximately $2.5 million in 

mandatory payments. 

• Contributions for employee health 

insurance are also set by OPM. This 

insurance contribution increases total 

NCUA benefits costs by 1.3 percent in 

2025 compared to 2024. The annual 

OPM estimate for the 2025 government 

share of the Federal Employees Health 

Benefits Program (FEHBP) premiums is 

expected to be released in October 2024, 

and the budget will be updated if there 

are material changes to FEHBP costs 

estimates. 

• The employee salary and benefits 

category 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 2025 and applies to all 

employers in the United States. The 

projected additional employer Social 

Security contributions that result from 

this increase account for approximately 

one percent of the total adjustment to 

employee salaries. 

Attracting a well-qualified workforce 

requires the agency to pay competitive 

salaries. In 2025, the NCUA’s 

compensation levels will continue to 

‘‘maintain comparability with other 

federal bank regulatory agencies’’ as 

required by the Federal Credit Union 

Act.13 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 2025, such 

as merit and locality increases 

consistent with the CBA in place for 

2024, 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 2025 Operating Budget 

supports a total agency staffing level of 

1,261 positions.14 This is a net increase 

of 14 positions, or 1.1 percent, 

compared to the agency’s 2024 staffing 

level. The net increase includes 12 new 

positions, four of which were approved 

by the NCUA Board in the 2024 budget 

for 2025 and incorporates into the 2025 

budget two existing positions currently 

unfunded in the 2024 budget. The firstyear cost of the 12 net new positions for 

2025 is estimated to be approximately 

$1.9 million. The cost for 2025 of the 

two existing positions currently 

unfunded is estimated to be 

approximately $0.7 million. 

The proposed 2025–2026 draft budget 

includes funding for the NCUA to 

increase permanent staffing in critical 

areas necessary to operate more 

effectively and address emerging risks. 

The staffing levels proposed for 2025 

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 following chart illustrates the 

NCUA’s staffing levels in recent years. 

BILLING CODE 7535–01–P 


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1,300 -

1,250 

1,200 

1,150 

1,100 

1,050 

1,000 

NCUA Staffing (Positions) 

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 

■ Approved NCUA Staffing Proposed NCUA Staffing 

Note: Total NCUA staffing excludes positions funded by the CLF. 
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87619 

BILLING CODE 7535–01–C 

The proposed changes for the NCUA’s 

2025 staffing level include: 

• Reducing the number of generalist 

examiners by a net of eight positions 

across the NCUA’s three regional 

offices, including the reduction of one 

supervisory examiner. 

• Adding two new Division of 

Supervision Director positions (one 

each in the Eastern and Western 

regions) while simultaneously reducing 

the number of regional Division of 

Supervision Deputy Director positions 

by four positions. The net change in 

regional staff is a reduction of two 

positions. 

• Creating a new Office of the 

Executive Secretary with two dedicated 

staff positions authorized for 2025 and 

a third position for 2026. 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 ONES by three positions. 

The three new positions include a 

supervisor for the capital planning and 

stress testing division, a financial data 

analyst, and a new executive position to 

lead the financial risk management 

team. Additionally, three positions are 

recommended for 2026: one national 

credit union examiner, one national 

lending specialist, and one national 

payment systems officer. 

• Increasing the Office of Business 

Innovation by two positions. The new 

positions include one artificial 

intelligence (AI) officer and one 

business innovation officer. 

Additionally, two new AI officers are 

recommended for 2026. 

• Adding one new senior Equal 

Employment Opportunity (EEO) 

specialist in the Office of Minority and 

Women Inclusion. 

• Increasing the Office of Consumer 

Financial Protection (OCFP) by three 

positions. The new positions include 

one consumer affairs specialist, one fair 

lending program officer, and a new 

division director in 2025. 

• Increasing the Office of 

Examination and Insurance by three 

positions. The new positions include 

two new fraud officers and one climate 

financial risk officer in 2025. 

Additionally, one new systems officer is 

recommended for 2026. 

• Increasing the Office of External 

Affairs and Communications by three 

positions. The new positions include 

one section 508 compliance manager 

and two division directors in 2025. 

Additionally, two new positions are 

recommended for 2026. These include 

one technical writer/editor and one 

stakeholder relations specialist. 

• Funding two positions previously 

unfunded but authorized within the 

total NCUA staffing plan. These 

positions are both within the Office of 

Human Resources. 

The proposed 2026 budget for pay 

and benefits is estimated at $329.2 

million, a $16.9 million increase from 

the 2025 level. Included within this 

total is the full-year cost impact of new 

positions proposed for 2025 

(approximately $4 million), $1.6 million 

for 11 new positions (three in ONES, 

two in the Office of Business 

Innovation, two in the Office of General 

Counsel, two in the Office of External 

Affairs and Communications, one in the 

Office of the Executive Secretary, and 

one in the Office of Examination and 

Insurance). The 2026 budget for pay and 

benefits also includes projected merit 

and locality pay increases consistent 

with recent compensation agreements 

(approximately $8.8 million), and 

associated increases in benefits for all 

employees (approximately $2.5 million). 

Travel. The proposed travel budget 

increases by $2.1 million, or 10.5 

percent, compared to 2024, for a total of 

$22.1 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. 

During the COVID–19 pandemic, the 

NCUA and its employees transitioned to 

an offsite examination posture, 

developing new procedures and 

processes to continue examination and 

supervisory work. In 2025, the NCUA 

will continue to conduct portions of 

examinations offsite, which is expected 

to constrain the growth of future travel 

budgets. Nevertheless, per trip costs 

have increased in recent years due to 

price inflation across the U.S. economy. 

Despite the projected growth in travel 

expenses for 2025, the total budget for 

travel is approximately $4.7 million, or 

17.4 percent, below the pre-pandemic 

2019 travel budget of $26.8 million. 

The proposed 2026 budget for travel 

is estimated at $24.2 million, a 9.5 

percent increase compared to the 2025 

level. This budget level reflects an 

expectation for continued travel-related 

cost inflation and travel to support a 

national training conference planned for 

2026. 

Rent, Communications, and Utilities. 

The proposed budget for rent, 

communications, and utilities decreases 

by $0.3 million in 2025, or 4.3 percent 

compared to 2024, for a budget of $6.8 

million. The 2025 decrease is largely 

driven by a one-time reduction in the 

first-year rent for the new Southern 

Region office lease. 

Funding within this budget category 

pays for facilities-related costs, 

telecommunications services, data 

storage, and information technology 

network support. Telecommunications 

charges include leased data lines and 

data service subscriptions, Voice over 

Internet Protocol and mobile telephony, 

and other network charges. Facilitiesrelated budgets pay for the cost of the 

office leases, utilities, rental of the 

disaster recovery and continuity of 

operations sites, meeting space rental 

for offsite events, and postage. 

The proposed 2026 budget for the 

rent, communications, and utilities 

category is $7.9 million, or a 15.4 

percent increase compared to 2025. The 

full, second-year cost of the Southern 

Region office lease is the primary driver 

for this increase. 

Administrative Expenses. The draft 

budget proposes a $2.4 million decrease 

in administrative expenses for 2025, 

which is a reduction of 31.8 percent 

compared to 2024, for a budget of $5.1 

million. The 2025 decrease is driven 

almost entirely by reclassifying the $2.4 

million Federal Financial Institutions 

Examinations Council costs from this 

budget category to the contracted 

services budget category, which more 

accurately captures the nature of this 

spending. 

Recurring costs in the administrative 

expenses category include employee 

relocation expenses, recruitment and 

advertising expenses, shipping, 

printing, subscriptions, examiner 

training and meeting supplies, office 

furniture, and employee supplies and 

materials. The NCUA pays relocation 

costs 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 2026 budget for 

administrative expenses is $5.9 million, 

an increase of $0.8 million, or 14.7 

percent increase from the level 

proposed in the 2025 budget. The costs 

associated with a planned agency-wide 

National Training Conference is the 

major contributor to the budget increase. 

Contracted Services. The proposed 

budget for contracted services increases 

by $25.9 million in 2025, or 55.1 


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87620 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 

15The total budget for Contracted Services in 

2025 before offsets of prior year unspent funds is 

estimated to be $78.0 million. 

percent compared to 2024, for a total 

budget of $73.0 million.15 A significant 

portion of the growth in this budget 

results from the assumption that 

approximately $18.0 million in 2024 

contracted services funded by carryover 

budget surplus from previous years will 

not be available for 2025. Since 2021, 

the NCUA has used unspent budget 

amounts from previous years to reduce 

its budget levels in the following year. 

The remaining $7.9 million of 

budgetary growth is driven by a 

combination of factors, including 

operations and maintenance costs for 

newly delivered capital projects, 

inflationary cost increases for contracted 

services, and additional analytic and 

operational tools necessary to address 

cybersecurity threats and growing 

complexity and risk in the credit union 

system. 

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. Most of the 

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. 

Growth in the contracted services 

budget category also results from new 

operations and maintenance costs for 

deployed capital investment projects. 

Other costs include core NCUA 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 (44.9 percent of 

contracted services) 

—IT network support services and 

help desk support 

—Contractor program and web 

support and network and 

equipment maintenance services 

—Administration of software 

products such as Microsoft Office, 

SharePoint, and audio-visual 

services 

• Administrative Support and Other 

Services (22.2 percent of contracted 

services) 

—Examination and supervision 

program support 

—Technical support for examination 

and cybersecurity training programs 

—Equipment maintenance services 

—Legal services and other expert 

consulting support 

—FFIEC reimbursements 

• IT Security (14.2 percent of contracted 

services) 

—Secure data storage and operations 

—Information security programs 

—Security system assessment services 

• Accounting, Procurement, Payroll, 

and Human Resources Systems (5.2 

percent of contracted services) 

—Accounting and procurement 

systems and support 

—Human resources, payroll, and 

employee services 

—EEO and diversity programs 

• Training (5.0 percent of contracted 

services) 

—Technical and specialized training 

and professional development for 

staff 

• Audit and Financial Management 

Support (4.6 percent of contracted 

services) 

—Annual audit support services 

—Material loss reviews 

—Investigation support services 

—Financial management support 

services 

• Building Operations, Maintenance, 

and Security (3.9 percent of 

contracted services) 

—Headquarters facility operations 

and maintenance 

—Building security and continuity 

programs 

—Personnel security and 

administrative programs 

The following chart illustrates the 

breakout of the seven categories for the 

total proposed 2025 contracted services 

budget of $78.0 million, of which $5.0 

million is funded from prior year 

available balances. 


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Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87621 

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. Staff must 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 remain current, 

including in core areas such as capital 

markets, consumer compliance, and 

specialized lending. Major training 

deliverables for 2025 include examiner 

training development, including subject 

matter expert conferences, and planned 

leadership forums 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. 

• 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 and the 

General Services Administration. The 

NCUA’s human resource system, 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 Office of the 

Inspector General (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 included as part of the 

agency’s Annual Report. 

A significant share of the budget for 

contracted services finances ongoing IT 

infrastructure support for the agency. 

The 2025 budget includes 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 contract support in 2025, which 

results in increased costs for contracted 

services, as described below. 

Within the Office of Chief Information 

Officer’s budget, an additional $2.0 

million compared to the 2024 budget 

level is required for: 

• Implementation of the NCUA’s 

Cybersecurity Supply Chain Risk 

Management tools, which help identify, 

assess, and mitigate risks to ensure 

integrity and security of products and 

services purchased by the agency. NIST 

standards require implementation of 

robust supply risk management 

procedures. 

• IT software, infrastructure services, 

and operations and maintenance labor 

support for NCUA systems, including 

legacy applications. 

• O&M associated with the agency’s 

new onboarding and offboarding 

system, which is being designed to 

fulfill new personnel background 

investigation standards required by the 

Defense Counterintelligence and 

Security Agency. 

The Asset Management Assistance 

Center’s contracted services budget 

increases by $1.1 million compared to 

the 2024 budget level. These funds will 

provide additional examination support 

for NCUA’s field examiners and ensure 

sufficient surge resources are available 

to respond to emergent matters. 

The Office of External Affairs and 

Communication’s contracted services 

budget increases by $688,000 compared 

to the 2024 budget level. These funds 

will provide for a new website hosting 

and services support. 

Within the Office of General Counsel, 

the contracted services budget increases 

by $470,000 compared to the 2024 

budget level. This increase primarily 

relates to anticipated legal fees 

associated with agency consumer 

financial protection efforts. 

Within the Office of Business 

Innovation, the contracted services 

budget increases by approximately 

$331,000 compared to the 2024 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. 


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2025 Contracted Services Budget by Category 

T~l~hlg~ 

_________ Audit and Financial 

Administrative/Other 

22.2% 

Total 

lnfOrmation Contracted 

Technology Security . Services: 

14.2% .... $78.0M 

Buildi.ng 

Maintenance 

Operation.~ 

and 

~ \_~ 

Security 

3.9% 

Management 

Support 

4;6% 

Information 

~ Technology 

•• •• · Operations and 

Maintenance 

44.9% 

Accounting, Procurement, 

Payroll and HR Systems 

and Services 

5.2% 

Note: Minor rounding differences may occur in totals. 
87622 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 

The proposed contracted services 

budget for 2026 is $83.5 million. 

Excluding the $5.0 million from surplus 

carryover used in 2025, the 2026 budget 

level represents a net increase of $5.5 

million, or approximately 7.1 percent. 

V. Capital Budget 

Overview 

Annually, the NCUA carries out a 

rigorous review of agency’s needs for IT, 

facility improvements and repairs, and 

other multi-year capital investments. 

The NCUA’s executives and staff review 

the agency’s inventory of IT systems, IT 

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 2025 Capital Budget is 

$8.2 million. This amount includes $7.7 

million for IT development projects and 

investments and $480,000 for central 

office building minor construction and 

maintenance projects. Within the total 

2025 Capital Budget, the agency has 

identified $1.5 million of past-year 

capital project budget surpluses, which 

reduces by the same amount the level of 

new capital funding provided for 2025. 

IT systems and hardware require 

significant capital expenditures for 

modern organizations. The 2025 Capital 

Budget’s highest priorities include 

continuing investments to bolster the 

NCUA’s cybersecurity posture and 

enable the agency to comply with E.O. 

14028, Improving the Nation’s 

Cybersecurity, along with enhancements 

to the MERIT platform. The budget also 

supports ongoing efforts to modernize 

the NCUA’s IT infrastructure and 

applications through the Information 

Technology Infrastructure, Platform and 

Security Refresh project. Finally, the 

2025 Capital Budget continues support 

for two multi-year projects: 

development of a personnel security 

system in compliance with the Trusted 

Workforce 2.0 directive from the Office 

of the Director of National Intelligence 

(ODNI) and OPM, and further 

technology enhancements 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 maintain investments in the NCUAowned facilities. 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 2025 Capital 

Budget includes funding for the costs 

associated with routine repairs, 

maintenance, and lifecycle-driven 

property renovations for the agency’s 

Alexandria, Virginia, headquarters. 

Following an assessment and 

recommendations presented to the 

Board, a decision was made to sell the 

NCUA-owned office building in Austin, 

Texas, which is expected to be 

completed in 2025. Given potential 

challenges in the commercial real estate 

market, however, proceeds from this 

transaction have not been factored into 

the 2025 staff draft budget. 

Detailed descriptions of all proposed 

2025 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 

Examination and Supervision Solution/ 

MERIT Enhancements ($1.8 Million) 

Investments in the MERIT platform in 

2025 will focus on upgrading the MERIT 

system platform to take advantage of 

security improvements, a streamlined 

interface, and new record management 

capability; modifying the ISE output 

files for more efficient import into 

MERIT; and implementing single signon for Partner Gateway applications 

including for new reports. 

Cloud Migration and Modernization 

($1.3 Million) 

The Cloud Migration and 

Modernization project is a major multiyear investment that involves moving 

applications, data, and IT infrastructure 

from servers located at NCUA controlled 

facilities to cloud computing 

environments. This project will also 

include updating and optimizing 

existing applications for cloud-native 

capabilities. By leveraging cloud 

computing solutions, the NCUA can 

reduce costs related to data center 

hosting, IT hardware purchasing, IT 

maintenance, and associated IT labor 

costs. The cloud computing 

environment also provides enhanced 

security functionality for the agency’s 

systems. Aspects of this project were 

included under the ‘‘Executive Order on 

Improving the Nation’s Cybersecurity’’ 

project in past years’ budgets. 

Network Access Control ($1.0 Million) 

This project will strengthen the 

NCUA’s network security by automating 

and enhancing security patch 

management and scanning functions for 

users connected to the agency’s 

networks. In addition, this project will 

integrate the NCUA’s firewall services 

within the overall network 

infrastructure and with the new patch 

and scanning functionality. 

CURE Process Automation ($1.0 

Million) 

This capital investment supports the 

development of initial requirements and 

scoping for a public-facing portal that 

credit unions and organizing groups 

will use to submit their field of 

membership and new charter requests. 


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Capital bulldlng 

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2025-2026 NCUA CAPITAL BUDGET 

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s 5,712,000 s 

s 477,000 $ 

7,7211,GOII s 

4111,0IIII .$ 

; 

1.000 I 

~ 

$ 6, 111,aao $ 8,21119,IIDO $ J,02ill,IXIG ! 

12,050,00D $ 4,321,000 55.911, 

o.& s 450,000 $ (30,IIOO) -6.3'!1, 

!12,6'1, $ 12,!IIIID,GGO $ ",291,01111 
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87623 

16 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 the Federal Credit Union Act, and for 

providing assistance and making expenditures 

under section 1788 of the Federal Credit Union Act 

in connection with the liquidation or threatened 

liquidation of insured credit unions as it may 

determine to be proper. 

E.O. on Improving the Nation’s 

Cybersecurity ($0.9 Million) 

The purpose of this capital 

investment is to ensure the NCUA 

complies with E.O. 14028. The project 

will continue efforts to enable MultiFactor Authentication for certain NCUA 

applications, adhere to best practices for 

supply chain risk management, and 

implement Zero Trust Architecture for 

the agency’s infrastructure and 

applications. 

Information Technology Infrastructure, 

Platform, and Security Refresh ($0.8 

Million) 

This capital project will improve 

system availability and stability by 

replacing outdated or end-of-life 

network and platform hardware to 

ensure business continuity and efficient 

operations. Proposed projects for 2025 

include refreshing hardware and 

software, and costs associated with 

backup storage at the NCUA’s disaster 

recovery site. 

Performance Management System ($0.8 

Million) 

This investment will support a 

modernized, phased workflow, 

dashboards, and automated 

management of over 350 performance 

plan packages to facilitate the employee 

performance management program for 

the NCUA’s employees. 

Enterprise Laptop Refresh ($0.6 Million) 

The purpose of this multi-year capital 

investment is to boost overall agency 

productivity, efficiency, and security by 

providing the NCUA staff with new 

laptops that offer improved processing 

power and speed to multitask more 

effectively, enhanced mobility features 

like reduced weight and longer battery 

life, and advanced security features to 

better combat evolving cyber threats. 

The budgeted amount for 2025 will 

support testing and selection of new, 

standard laptop configurations that will 

work with the NCUA’s business 

applications and requirements. 

Headquarters Building Minor 

Construction and Maintenance Projects 

($0.5 Million) 

The proposed 2025 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. The headquarters 

building is 30 years old, and many 

original components need 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. 

System Updates for Significant 

Regulatory Changes ($0.3 Million) 

This project will allow NCUA to 

update applications and databases to 

accommodate new regulatory 

requirements or initiatives. Multiple 

legacy systems are often impacted when 

regulatory changes are finalized, or new 

initiatives are approved by the NCUA 

Board. These changes can require 

significant time and programming 

resources to ensure that related systems 

maintain their functionality before 

updated rules take effect. 

Onboarding/Offboarding Solution and 

Personnel Security Case Management 

System ($0.3 Million) 

The purpose of this project is to 

develop a new personnel security 

management system for the NCUA in 

compliance with the Trusted Workforce 

2.0 directive promulgated by ODNI and 

OPM. This system will centralize 

personnel security case management 

and serve as a repository for agencywide 

onboarding/offboarding actions. 

Management Automated Resource 

System (MARS), Time Management 

System (TMS), and Credit Union 

Service Organization (CUSO) 

Development and Reports ($0.3 Million) 

This project funds short-term 

contractor support to develop CUSO 

Reports, data collection forms such as 

the CUSO Registry Online form, and to 

realign MARS and TMS development in 

support of regional redistricting, new 

work code classifications, new examiner 

specialties, and new supervisory 

examiner groups. 

Off-Site Monitoring Project ($0.3 

Million) 

The goal of this capital investment is 

to leverage data analytics solutions to 

minimize technology burdens on 

examination staff during off-site 

monitoring while streamlining the way 

that offices identify emerging and 

increasing risks to the Share Insurance 

Fund. 

ONES Dedicated Computing Resources 

($0.05 Million) 

This capital investment will provide 

dedicated computing resources required 

for data ingested through the ONES 

large credit union data collection 

program. 

Generative AI Licensing ($0.03 Million) 

This capital project investment will 

fund a pilot program to test the 

capability of Microsoft’s AI tool, 

Microsoft 365 Copilot, for possible 

development across the NCUA. 

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.16

Direct costs to the Share Insurance Fund 

include items such as travel for state 

examiners attending NCUA-sponsored 

training, data subscriptions and 

technology tools for ONES’ analysis of 

large credit unions, audit support for the 

Share Insurance Fund’s financial 

statements, and certain insurancerelated expenses for AMAC operations. 

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 

2025 budget for the corporate resolution 

program continues to decrease 

compared to the 2024 funding levels. 

The remaining assets held by the NCUA 

are subject to ongoing litigation and will 

be sold once all claims to ownership of 

underlying assets are resolved. 

Budget Requirements and Description 

The proposed 2025 Share Insurance 

Fund Administrative Expenses Budget is 

$5.5 million, which is $0.4 million, or 

7.0 percent, higher than 2024. 

The proposed 2025 budget increase is 

primarily driven by an increase in the 

projected costs of state examiners 

traveling to NCUA-sponsored training, 

increases in the cost of data and analytic 

models used for 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: 

• $2.5 million for operating and 

maintenance costs of the Asset and 

Liabilities Management system, which 

allows the NCUA to build internal 


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87624 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 

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. 

• $1.5 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. 

• $0.9 million for financial reporting, 

including the annual financial audit and 

for contractor support to ensure 

effective internal controls for the fund. 

• $0.1 million for corporate 

resolution program legacy asset 

waterfall models and valuation analysis 

support and data. The budget for NGN 

support decreases by 60.1 percent 

between 2024 and 2025. 

BILLING CODE 7535–01–P 


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2025 Share Insurance Fund Administrative Expenses Budget 

Financial Statement 

Reporting and Other 

Support ""·· 17% "-

Corporate Resolution 

Program "-.. I 

2% ~ 

Asset Management / 

Assistance Center / 

Operations 

5% 

Analytic Tools for 

.---- Large Credit Unions 

45% 

State Supervisory 

Authority Examiners' 

Travel and Other 

Support 

31% 
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87625 

17Some costs are directly charged to the Share 

Insurance Fund when appropriate to do so. For 

example, costs for training and equipment provided 

to SSAs are directly charged to the Share Insurance 

Fund. 

18 12 U.S.C. 1783(a). 

19 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. 

20See https://www.gao.gov/products/b-1640314- 

31. 

BILLING CODE 7535–01–C 

The proposed 2026 budget supports 

similar workload and resources for the 

Share Insurance Fund, which at $5.4 

million is $0.1 million lower than the 

proposed 2025 level. With the 

anticipated wind-down of the program 

in 2025 (subject to the status of ongoing 

litigation), there is no corporate 

resolution budget planned for 2026 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 most 

of the costs to operate the agency.17

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,’’ 18 and 

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

income earned on insurance deposits) levied 

on insured credit unions under [the Act].’’ 19

Among the fees levied under the Act are 

annual Operating Fees, which are required 

for federal credit unions under 12 United 

States Code (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 U.S. 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.20 The NCUA has since used an 

allocation methodology known as the 

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 


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2025-2026 SHARE INSURANCE FUND ADMINISTRATIVE EXPENSES BUDGET 

20J411oard 2025 Dung• Ptlm!nt 2026 

Apprond RaqUl!lfflld 120:M-20:i!S) Cbang11 Rllqumad 

Budgllt Budgllt !2024-2025) Budgllt 

SIF Dlract bpan1111• 

' Trawl ' 

OHR: Slam Examiner Training 1,ot5 1,490! 475 46.8%' 1,490 

'1MN:, Slaff tJiM!1 lilf prollll!ffl GISI!& l5 15' O.<l'li, ' l5 

Smtatal, Tr.m!I (SIF Dlnict Ellpl!nsn) 1,(BO 1,SDS ! 475 46.1'!1,: 1,505 

&!~I 

ONES: Malptic Tools lilf l.a!!J@Cn!dit Unions 116 1W' 44 37.9%' 140 

l!lrAK; 5h[pplng and Mlscl!Rilneoos Admin 54 481 --6 -11.1% 411 

' I Smtalal Admlnlslratlvl! Expa,111s (SIF Dlnict Expllnsn) 170 21111 ~ 22A'!li 1U 

Cantramd !iankw 

ONES: l,n;ilptic Tools fur Lll!!J@Ul!dit Unions 2p'ffi 1,3IKl 14 11.6%' 2,300 

ocro,flnam:lal Accounting, AuditSupport, llankOlill!Jl!Sand 925 937 12 Ull,: 937 other Support 

Olli: SSA costs for MBliT 216 216 I 0.0% 216 

IWl>c uirp. fll!solution study (2!!22), k!gial, olher mnlr.lm 229 120 I ~ -3.9% 220 

S&Dlotal, Canlnchd Slnlces (SIF DlnKt l!llp•n1111) 3,6511 :s..en I 17 O.!l'!lo 'S,673 - --- -- -l 

Total, SIF Dlnd l!llpenSIIS .... 36 5,'SN ! S!O 10.- 5,3116 

' 

Corpante IINalullan Program 

Admlnlmtlu Epnas 

E.11,Sllllw'are;md DalaSubE'iptions 1lffi 64 -tll --65.6%' 

Contradlld Sllnlca 

Ell: V::iluation Services. Conlm:t Support. Trainmg 100 50 ! -50 -50.0'll, ! 

114 i '. !Total, Corpanta Rllmlutlon Program 21111 -172 -611.1'!1,: 

Total SIF Budgat $ 5,142 $ 5,!00 i $ 3511 7.G'!!, $ 5,316 
87626 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 

21Annual 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). 

22 12 U.S.C. 1783(a). 

23The 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). 24The 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. 

25On 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. 

26 82 FR 55644 (Nov. 22, 2017). 

27See https://www.federalregister.gov/ 

documents/2023/12/20/2023-28000/request-forcomment-regarding-overhead-transfer-ratemethodology. 

28See https://www.federalregister.gov/ 

documents/2020/12/28/2020-28487/overheadtransfer-rate-methodology-and-operating-feeschedule-methodology. 

operating fees paid by federal credit 

unions.21

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.22

Second, the NCUA may not fund its 

entire Operating Budget through charges 

to the Share Insurance Fund.23

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 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.24 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.25

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.26 In 2023, 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.27 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 2025 is estimated to be 61.7 

percent, which is the same percentage 

as 2024.28 Thus, 61.7 percent of the total 

2025 Operating Budget is estimated to 

be paid out of the Share Insurance 

Fund. The remaining 38.3 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: 

At the start of each year, the Office of 

the Chief Financial Officer estimates the 

share of annual spending that will be 

paid by the Share Insurance Fund 

through the OTR and calculates a 

monthly cash advance that is transferred 

from the Share Insurance Fund to the 

Operating Fund at the start of each 

month. During the financial close at the 

end of each month, the OTR is 

multiplied by each month’s actual 

Operating Fund cash disbursement and 

expenditures, and the product of that 

calculation is transferred from the 

Operating Fund to the Share Insurance 

Fund or vice versa depending upon 

whether the Share Insurance Fund share 

of the cash disbursements was lower or 

higher than the OTR cash advance. This 

monthly reconciliation captures the 

variance between actual and budgeted 

amounts, so that 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 following chart illustrates the 

share of the proposed 2025 Operating 

Budget that would be paid by federal 

credit unions (69.3%) and federally 

insured, state-chartered credit unions 

(30.7%). 


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2025 Estimated Distribution: Overhead Transfer Rate and Operating Fee 

Est. Shani ofth1 Oplntlng Bu--~ by: 

Fedl!r.llOaitUnlon(lpl!rating Fee 

OvemeadTransli!lr ltn x Pl!m!nt of lnsun!d Shlan!s • 

"lnslndSl'Krlu 11111! ti at June2024. 

Fil.din! Cl'ldlt l.tllon1 

31.Bi 

Fttdllnll, nllftd, 

Sl:it1-CharhnldCNld1t Unans 

Q.O'lEo 

311.7'!1, 

61.l"llix4IIJl'll, 

JG.7'11, 
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87627 

29See https://www.federalregister.gov/ 

documents/2023/12/26/2023-28303/national-creditunion-administration-operating-fee-schedulemethodology. 

30See https://ncua.gov/newsroom/press-release/ 

2023/board-approves-ncua-2024-2025-and-centralliquidity-facility-budgets. 

31The exemption threshold for 2025 is estimated 

at $2,080,250, which accounts for 4.01% aggregate 

growth in credit union system assets. 

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 December 

2023, 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.29 Consistent with its triennial 

schedule for regulatory reviews, the 

NCUA requested public comment about 

the operating fee methodology in 2023. 

At its December 2023 open meeting, the 

NCUA Board approved three changes to 

the methodology for computing the 

operating fee. First, for purposes of 

calculating the operating fee, the asset 

exemption threshold was increased 

from $1 million to $2 million. Second, 

the NCUA Board agreed to adjust the 

asset exemption threshold annually in 

future years by the computed rate of 

aggregate asset growth at Federal Credit 

Unions. Third, in response to comments 

from the public, as part of future 

reviews of the operating fee schedule 

methodology the NCUA Board plans to 

analyze options to adjust the 

distribution of operating fee costs.30

Under the current methodology to 

determine the annual operating fee 

assessed on federal credit unions 

serving consumers, 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 

approximately $2 million are not 

assessed an operating fee and their 

assets are therefore excluded from this 

calculation.31

Based on the Board-approved 

operating fee methodology, which is 

summarized in the following tables, the 

share of the proposed 2025 budget 

funded by the operating fee is $155.8 

million. This equates to 0.01354 percent 

of the actual average of natural person 

federal credit union assets for the four 

calendar quarters ending on June 30, 

2024. The calculated operating fee rate 

for 2025 increases by 9.02 percent 

compared to the rate in 2024. This 

computation is 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 2025–2026 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 2025, 

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 2023 and the first 

two quarters of 2024) and the previous 

four quarters (that is, the third and 

fourth quarters of 2022 and the first two 

quarters of 2023), which is calculated as 

4.01 percent. The fee exemption 

threshold and the asset level dividing 

points for the fee tiers are likewise 

increased by this same growth rate to 

preserve the same relative relationship 

of the scale to the applicable asset base. 


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2025 Distribution of Operating Budget Costs 

Federal Credit Union 

OTR Portion -----_ 

31.0% 

Total Federal 

Credit Union 

Portion 

69.3% 

FederalCreditUnion ... ~ 

Operating Fee ,/' 

38.3% 

Federally Insured, 

..- State-Chartered 

Credit Union OTR 

Portion 

30.7%* 

"Note: Federally insured,state-chartered credit unions typically pay supervisory fees to their respective State 

Supervisory Authority. 
87628 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 

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 9.02 percent increase in the 

operating fee for natural person federal 

credit unions, using the current $2.08 

million exemption threshold. 


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PROJECTED 2025 OPERATING FEE REQUIREMENTS 

CS In mllllans) 

1 l'r<ip>Sl!d Operating lludgl!t 

2 AddOiplt:11 lnveslml!ll'lts 

3 MISCl!llanl!OIIS IIN!nue 

4 Clplntlng ludgaU11applyDrR 

5 Overhl!lildTransfl!r Rn a,;7'111, 

6 lnbrest Income 

7 Nat {sllm Rnes-4- 61 

II Opl!lr.lling Fund a.djustmsnt 

• ludgntdDplratlng RNIICapll:al Rlqalnimmntl {sllm lines 7- 8) 

10 Corporal!! Fl!deral CU()peratlng Fel!s 

11 Natural Palon FQJ Dparlll:lng fNI Raqulrad (sum lines 11-10) 

12 FH!liprojededwith As51!1:Gmwlhof u1-. 

,. Dlffitninca (Rnl!l!i n Ii 121 

14 AvsagaRat9AdJl8tm•ntlndldtild {finl!13divldedbylln& 121. 

PROPOSED 2025 OPERATING fEE SCALE 

2024Natwal Pw1m1 F9d•ral CN!dlt Unlan !icale 

~ 

$0 m $2,000,000 

$2,000,000 ID $2,354,8112,1162 

$2,354,II02,9112 ID $7, 125,SIIIJ,315 

$7, 125,!i911.311S AND Over 

2G25 (Piapaud) Natural Pllncin fllllanl Cnidlt Unlan !ical• 

Projected rcu asset grmvth rate 

Operallngfl!I! rate change 

AS!l!U.l!V@I 

$0 m $2,080,250 

$2,080,250 ID $2, 44!1,211!1,S10 

$2,449,28g,570 m $7,411,513,440 

$7,411,SB.44!1 AND Owr 

tims(P_;,;;;;.,ea~ Fadr.11 Cnldlt Union Scallt 

Opl!nllng Fee Assessment 

$l100 

$0.00 

$449,626 

$71;5,121 

+ 0..0001!111"4 

+ OJI0005565 

+ OJIOOOtll59 

X 1Dtal assets Olll!I' 

X mtal am!lsOlll!I' 

X mtal assets Olll!I' 

4.01'11i 

9.0l'lli 

Changl! In asset ltm!I dividing points 

Chang!! In a5!ill!SSllll!II rail! permntiges 

Opl!nllng l'i!RAssenml!III: 

$0.00 

$0.00 + OJJ011211816 

+ O.llll0Qli067 

+ ll00002027 

Operating m Asseaent 

X 1Dtal assets ow, 

X 1DtalassetsOlll!I' 

X 1Dtal assels OllllF 

21125luclglt 

$ 4111.Jll 

$ &211!1 

:$ IM70J 

• GI.INl4 

$ 12fi3.437) 

$ (7.728) 

s 155.7119 

$ -

$ 155.7119 

$ (l1325) 

$ 155A74 

$ (142al!I) 

$ u.-s 

111,m'll, 

$2,000,000.00 

$2,354,II02,!m 

$7,125,5!11,3115 

$0.IJD 

$2,449,2119,S10 

$7,411,513,440 

~ 

$50poo,ooo lO $100,000,000 $10,725 + 0..00019870 X 1Dtalasseisffll!lf $50,000,000 

$100,000,000 AND Owr $211,600 + 0.00001230 X totllaffl!lsOllllF . $100,000.000 
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87629 

VIII. Appendix A: Supplemental Budget 

Information 

Budget by Strategic Goal 

The table below shows the combined 

total of the 2025 Operating, Capital, and 

Share Insurance Fund Administrative 

Expenses budgets, organized by the 

NCUA’s three current strategic goals. 

BILLING CODE 7535–01–P 


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2025 Staff Draft Budget 

Strategic Goal 

Dollars {in Millions) Positions 

. Goal 1: Ensure a safe, sound, and viable system of $281.06 1,027 cooperative credit that protects consumers 

Goal 2: Improve the financial well-being of 

individuals and communities through access to $19.28 65 affordable and equitable financial products and 

services 

Goal 3: Maximize organizational performance to $128.23 159 enable mission success 

. Office of Inspector General $4.46 10 

Total $43 3 .03 1,261 

Budgets for the Offices of the Board, EECutlve Director, General Counsel, Ethics Councll, External Affairs and 

Communications. and Chief Flnanclal Officer and the capital Budget are allocated acioss all strategic goals. 

Note: Position totals do not include five positionsfanded by the CLF. Minor rounding differences may 

occur in totals. 
87630 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 


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Office Budget Summary 

2025-2026 NCUA OPERATING BUDGET 

JIDllanl JOB l I 2026 l. .I ......... --. CIiia .......,_. ........ d j 2024. :zms; c .. ,.. ! ........... l :zms.:111126c••• ; .... . ..... } I ....... ! l m, 211121 ml 

&Rl!m Rogian 57,973~49 '2,6l8}7tj 4,filiS,IJI lll!lli:1 6!i,!ID1,236! 2,62.457 )A~ 264 2Sl :!60 

.Soulhem llegiafl Sl,SM,2fl!i 53)21,3ilj 1,114,,0!15 4J!lli 56,Wll,559, 2,]U,lff 4.496! 234 Ul m 

Weslem Rl!gian 56,971,4211 6(1,164,!i111J 3,113,173 5£!llil 61,990.SBOJ 1,1125,910 3.00(,i 241 244 J44 

17,!111,1156j 1g,4!1fi,5221 i Offite<Jf-&ainilllati,msillld !5iJp,ni51ion 15,1117,1134 1,(1311,122 li.l!llii 1,!ml,"166·. ... , 54 57 fill 

9,011,4114j 

i ! 1: 

Offite<lfConsucnerRnam:ial Prula:llall il,295,41!7 7121J77 !IA!llil ~j 791,436 V!K.[ ]1 ]4 14 

Subllllal, Ellllmlndan ' ' and ~•IDn 191,IU,NI 20J,S27,210] 11,164,!IIII a.Bl :n:a.111,,ul l,,IIIIO,HI 4.Mio( 81 a7 ao 

4,!N0,511il l 4,1115,477; :! ·Ollia,mllhellaanl 3,!1!11,314 4:2,771 U!llii 164,IIH n n 13 

' i Offite<JflheEia!aJ!til,,eDin!dm 4,11112,!IOII! '1,ll!O,jilS 4,711,1115 l 5'30,370 t2.7!11il 171,103 10 IQ 10 

' IUJ!lil ,ft!daR ..... <illl-aM&anindaRCimndl· 1,lSll,OIII :z.,m,,111oj 5ll,Ollll 2.1\llil 2,4111.roOj " " " " 

Offi<Hf lhe Eie<lltlul! 5eamly . 481,9711 46(1,971 Nfll m,wl 516,19' 112.BII,( " 2 3 

Offia,afllh•-.., 511,IISl 11:lO,,IID) :1119)!11 43ll'llil Blil5,1145l 34,195 4.1111,\ :t :I 3 

2,307,II06j .~ .Offim<ll'ElhiaCallllllll 1,m,522 74,2114 3.3.91,1 2,41:l,SIIDli) 106,190 4.Bltil 1 1 7 

.Offia! ofliuslm!s• fnnlmllion 4,!131,115'3 6,114,966: l,lli,113 24.11!11, 7,412,6101 1,291)113 212'!1,I 15 17 111 

Offim<ll'Can4inuityand5eairilJ~ 5,711,!!07 6,2Hl,JD8j 412)92 7.l!llil 6,3112,.&S!Jl 172,661 2.BIJt.~ 12. 13 13 

•(ljlu<lfMnoril}'andWammlnmion '1,414,174 4,513,1151 j WP, 2.3%1 4,II01,!161 2111,111 6.4'11,i 10 11 n 

3,2:IO~J ~ 

Offia!afth•Chll!fEmnamilit :!;!lliJ,,214 247,3111 11.391,1 

3,491,511. 211:7,!144 !Wll,f 8 !I g 

l ! 

Office<lfllhe Chief finandalOliia!r 2S,264,3fi1 25,72i,m1 '!l0}91 1Sllli 27,,244,562 l,41!1,4111 5~ !ls: 5!i 55 

CmH:Ulling ll!ll!l'ICJ"""""""" C1¥22.495J (Sl,1911)) 111,571)97 ·99.79"1 7,S!l0,70!1 7μ1/Xll 1.im&;l'ilj " " - ] 

Offi<eof1lh1Chloflnlimmtlan0ffimr 62,!'611,.571 6!i,,259,6'55j 2,'91,11114 4.391,I a,.1114.1!Dli, 3,225,150 ~ !ill 511 50 

, .. !!Iii 12,222,546! 

·;' 

•Cled1t Uaion RHIUlll5 and Elpanoion I0,173,D4 11,119,41!5) 1146,ltll SlB;MO UJrii 41 41 41 

Offi<eafmlllinalion&IIIIIAR<I! 16,5!i4,11116 18,059,IBB j 1,5114,,231 9.1!11il 111,3711;18' j 1,3211,1'16 73!11,i 5:1 515 57 :i 

Offia!••fG1!!111!ralUllmlii!I 1'1,!l'.!6,034 15Ji30,421 ;i 1ll4,3il:7 4.7\lli 16,717,11111 j 1,146,fiiO 73%! olli ,1 411 

'Offimaflnopectarwnem '1,290,ll27 4,Af,0.-l 1:m,oe 4.11!11,I ~11.:aej 157,1411 35111,[ 10 10 10 

24,1127,962 l ;Office<lfllunan ............. ' 21,li40,418 2,181,515 !l.7'11,j 27 Ji12flJ' l! 2,7114,00 11.2'!1,f olli 49 411 

1 Offi<e<ll'Exll!malMranandOimmunkalillft· 6,4'1!1,131. 7J!i0,35Bj 1,211,211 1!1.191,1 11,442,712 ~5 B.Ri. 15 18 20 

AIHil lllanagenlentand!loslslana!Cmll!r li,416,3:12 7,5115,960) l,lfi!l~28 lll.l!ll,I 7,1177/illl '291,713 uJ :B :B 23 '.{ j j f Slmtcllal, other OIIICIIS 1a,u1,11• Z11,7W,72Dj IZ,SN,4DZ 1&11'1f,I Z!ll,OIIIJ, 114,, Z2,D1,illl 1D.1'11( 411i 4M 4112 

l'Dtal,0panlng Budgllt $174,4114,000 $411,'IZl,GOD:~1,DIXI 1Z.O'll,$410,I07,aao,'$1,1,zaz,ooo 1.!1'111(1,zu 1,Zl'I 1,Z7Z 

Note: minor rounding differences may occur in totals. 
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87631 


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Office Budgets 

OFFICE OF THE CHAIRMAN: 2025-2026 BUDGET SUMMARY 

lllll::ill41oan:I :ZD25 Propolilld 211124-:ao:zs Pwmnt :zmePrapoNCI :ZD25-:ZO:al ll'llralnt 

Apprond IUdgat Budgat Changa Cha,go ludgot Chango ChaniaPalll:lom 4.0 4.0 Q.a,f, .... O.D'Ji, 

&nplOJl!l!!Qlrnpl!llsatlon 1,011!1,761 1,111,9811 22,20!l' 2.0'JI, 1, 1114,536 52,6117 4,7'11, 

Salaries 765,019, 773~ 8,610 1.1!!, 814,075 40,446 !i.2'11, 

llenl!fih !124,742 338,341 13,;5!1!) 4,2'!1, 350,.5112 12,221 3.R 

Travel S0,000 so,olio. O.ll'lli 50,000 O.O'lli 

Rl!nl:IO!nm/Ulil 2,250 2,2511 O.<l'lli 2,250 D.<l'lli 

Admlnlslr.llln 10,00Cf 10,000 O.ll'lli 10,ool> D.<l'lli 

ContrarudSffllcl!i 311,000 29,000 (lO,DOOl -25.6'1& l!J,000 D.<l'lli "'"""'''~"""-""''"-'•'''•"=·""-.._,.,,,, .... _.,.,,,._ .......... ~ .. ~«~~~ .. "~-~~"'~"""""'"""""""'"'---· ••• ,,;;,, ... -._. •.,.~. -- '"'"''-''"·~-~--,--~--

Tbtal s 1,1111,011 s 1,:zm,:1111 s 1:Z,:ZOI 1,a,f, s 1,251,111 s 52,N7 4A'lli 

VICE CHAIRMAN HAUPTMAN: 2025 21)26 BUDGET SUMMARY 

lllll::ill41Dan:I :zonPropolilld lllD4-.:amS '-t :zmePrapoNCI :zo:zs-:zo:ae ll'llralnt 

Apprond IUdgat Budgat Changa Cha,go ludgot Chango Chan119 

Palll:IDIB -.a I.D CLIM a.a o.-

&nplOJl!l!! Oimpl!llsation 752,IIOt 7.U,71Ni 13,,223) ..(1.4'!1, 7H;2111 31,'4!15 ."'2'1f, 

Salaries 525,63' 522,117 (3,522} -0.7!!, 5411,257 24,140 4.6'ifi 

llenl!fih 2211,31'0 2211,1111!1 2lll!t 0.1'11, 234,024 7,"4 3.2'!6 

Travel S0,000 65,000 15,000 ]10.(11!1, 115,000 O.O'lli 

Rent/Olmm/Util 6,7511 6,750,. D.<l'lli 6,750' 11.0'!i 

Admlnlslrali1111 14;000 14,000 O.ll'lli 14,000 O.O'lli 

CormcbdServli:m 113,000 611,oail (15,DOOl -111.l'lli. 611,000 D.<l'lli ,-......._._~----~"'""•'-'"< ~~---~ -~· '' .. ,,_ ••• ,,,,.,«--·~"'"~'""''''"""'"""'~~--·--~----"'·'""'-~"=<<==-=~"-···-·' ··~~·~·-~·~"-·..,·'"" 

• Total s 105,7!111 s l~S!IJ s l),:ZD) .Q.4'I, s N4,0J1 s 

BOARD MEMBER OTSUKA: 1025-2026 BUDGET SUMMARY 

lllll::ill41Dan:I :Z0:15 Propolilld lllD4-.:IIO:ZS '-t :zo:ze PrapoNCI 

Apprond IUdgat Budgat Changll Cha,go ludgot ••,----~------•-v••••-"-

Palll:lom -.o I.D Q.a,f, ••• 

&nplOJl!l!! Oimpl!llsation 784,122 777,197 {7,1124) -1Jlllli 814,3113 

:5alarlel 551,5116 S43,IIJ2 {7,7531 -1.4!!, .572,265 

8enelils '2ll,2!16 lll,365 129 0.1'!1, 242,03'& 

Travel 65,000 65,olio O.O'lli IIS,000 

Rent/QJmm/Util 11,7.511 6)'50 O.O'lli 6,750 

Adrinislrallve 14,000 14,000 O.ll'lli 14,000 

CormcbdSl!IVlciil 911,000 9&,000 O.O'lli " 

!111,000 

""'"'"""'"""""'''""'""'''""'~-----.,-,,_,_..· .·""'"""·---~ .. 

• Tbtal s 1111,512 S IIO,N7 S -.,oSll $ 

Note: Minor rounding differences may occur in totals. 

S1,415 

:za:as-:zo:ae 

Olango 

37,111.i 

211,432 

8,673 

S7,1GS 

S.!S'II, 

Pilmlnt 

Chan119 

O.D'Ji, 

4.ll'lti 

!i.2'11, 

3.7'11, 

O.O'lli 

11.0'!i 

D.<l'lli 

O.<l'lli 
87632 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 


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OFFICE OF THE BOARD: 2025-2026 BUDGET SUMMARY 

:am•loald 2DHlll'opollllid 2IIXIA-21DZ5 ~ zazePrapoad zozs-zoze !Walnt 

Apprond Budglt Budglt Changa Chq• u•.t Chang• Changa 

• FClllll:I0111 1S.O u.o 1!1.0 o.a,i, , .... ,··--····,--··,---~,"'' '''""'"'"'~""-' ... 

Emplll')ll!I! Cmlpl!llsatfon 3,4114,564 3,536,Di 52,271 1.5!11, 3,1111,727 1M,11ll1 4.1'11i 

Salarll!i 2,4S2,739 2,481,200 21,461 l.2!11, 2,607,763 126,564 !i.l'!i 

8l!l1.l!lih 1,01,825 1,05!i,li36 23,811 2.391, 1,093,964 38,3211 3616 

, Travel 10,000 185,000. 16,000 !l.5'li 185,000 11.0'l!, 

Al!l'lt/Comm/Ulil 16,250 16,250 O.O'lli 16,250 O.O'lli 

Adrinlslrall'III! 40,500 40,500 QO'll, 40,500 O.O'lli 

Qmlrac.!Ed Seivla!s 2811,000 262,000 (26,D!IOl -11.0'lli 262,GOO•· O.O'lli 

Total $ 1,-.,1• $ ",IMO.IN $ G,271 1,1111, $ if,ZOl,ff7 $ 1-.-, •. 1,i, 

OFFICE OF THE EXECUTIVE DIRECTOR: 2025-.2026 BUDGET SUMMARY 

:am•loald ZO.Hllropollllid zm•»zs ~ zazePrapoad 2021-zoze !Walnt 

Apprond Budglt Budglt Changa Chq• au•• Chang• Changa 

FClllll:lom" 10.0 10.0 . Q.O'l(, 10.0 . o.a,i, 

-·-- Emplo)'l!II! Cmlpansatlon 3;284.IIB!i 3,560,255 275,310 11.4!11, 3,732,158 171,9113 U'!fi 

:Salarll!i 2,:3111,33§ 2,ilO,HII • 212,561 9.2!11, 2,6113,21& 132,319 !i.2'!i 

8l!l1.l!lih 1166,546 1,lml,351i 62,,80!> 6.5'11, 1,0611,!l40 Jll,5114 3.8'!i 

Trwll 30,000 115,000 !i!i,000 10.3!11, B!i,000 . 11.0'l!, 

Al!l'lt/Comm/Ulil 211,000 20,000 - QO'll, 20,000 - O.O'lli 

Adrinistr.111'111! 2,375,lilt 25,250 (2,350,DOOJ -H.!1!11, 25,250 - 11.0'l!, 

me- 25,2» 25,250 - QO'll, 25,250 - O.O'!li 

fREC 2,3511.000 - (2,350,DOOJ -10ll.O'JI, - 11.0'l!, 

, Conlr.imd:S-llcl!l 11211,500. !l,420,500 2.-.- !llli.ll'lli 3,4211,500 - O.ll'lli 

me- 1120,500 1,l>20,5DO 200,000 24A'!i 1,020,500 -· O.ll'lli 

fREC - 2,400,000 2,.0,000 C 2,400,000 - omr. 

Total $ a,no,us $ 7,111,00S $ II0,37D ..... s 7,ZIQ,IDI $ 171,'IIII 2-

OFFICE OF THE EXECUTIVE SECRETARY: 2025-2026 BUDGET SUMMARY 

:11124 loald 2025Propollllid zm•:zozs ~ 2azePrapoad 2025-ZON !Walnt 

Apprond Budglt Budglt Changa Chqo u•.t Chang• Changa 

FClllll:I0111 2.0 2,0 NIA !1,0 1.o SO-°"' •• ,.,,,._ .. ,., • .,_,.,_"'"''"'""-"'""""·"'-"'' .. ~"''~'""''" ... ''"""~"''"''"'''"'"""'"""""'''""·,..~"-""'"~'~' ... "",..._...,,~,w.,.,,,..,,,,..,..,,,....,.....,=,,,,.,, • .,,,..,..._,......,,,,,,..,",·'"'""='""~="""""~='·'"-="•""""'"''""'' 

Employee Cmlpl!llsatfon 3!!0,971 l!I0,971 NIA 907;168 516,1117 132.ll'lli 

Satvles 271,162 278,762 NIA 6!i5,IB7 376,275 U!i.ll'lli 

Ben@fits 112,210 112,210 NIA 252,13:1 13!1,921 124.7'!i 

Trwll 10,000 10,000 NIA 10,000 11.0'!li 

Rl!lntltilnm/Ulil 

Admlnistr.111'111! 

Cantr.1cmd Serirlci!i 40,000 60,000 NIA 60,000 O.ll'lli 

Total . $ 4il0,971 s N0,171 NIA $ 1177,111 $ 1111,1117 112,0II, 

Note: Minor rounding differences may occur in totals. 
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87633 


lotter on DSK11XQN23PROD with NOTICES1EN04NO24.036</GPH>

~IDIIII 

EimplOY@I! Conlpl!llsatioft 

.Salilrfel 

lll!lll!lb 

Trav@I 

Rllnt/Glnm/Ulll 

Admlnlstnllw 

Contnd8d Selvicl!s 

'lbtal 

~IDIIII 

Eimployae Compl!llsation 

Salaries 

lll!lll!lb 

Travel 

Rllnt /Glmm/Ulll 

Admlnistnllw 

Contramd Selvicl!i 

'lbtal 

OFFICE OF THE OMBUDSMAN: 2025-2026 BUDGET SUMMARY 

2111.:i14 loanl 20.25 Pnpoll!d 2111.:i14-202!1 Pwalnl: 2CIHPnlpolllld 

Apprond IU:lgat Budgat Olanga Cha,g• ludg.t 

2.0 :s.a 1,0 IO.Cl'II, :s.o '""'"'·''·''"""'~-~,.,.,,.,._.., _____ ..,. .. ,,,"',,~-·· ... .,.....,,.,. -,~-,--~,--~-,,~,-,,-,,,,_,,,.~-. ...... ,......,, . .,~---,~-..--,,----" 

5611,552 11113-3"!1 2M,7!1S 41.3'lli 837,545 

402,5811 574,l191J 172;31& 42.11'16 601,070 

165,971 22&,451 lil,47!> 37.6'11i .Dli,474 

2,500 9,500 7,000 2llO.O'll, 9,500 

2,omr 2,0IIO O.ll'l6 2,000 

1,000 !il,OIIO B,000 IIOO.O'!li 9,000 

7,000 7,0IIO OJ)'ll, 7,000 

s !111,052 s 130,IIG s 349,711 41,Cl'II, s Nll',045 

OFFICE OF ETHICS COUNSEL: 2025-2026 BUDGET SUMMARY 

20.24 loanl 20.25 Pnpoll!d 2111.:i14-202!1 Pwalnl: 2029 Pnlpolllld 

Apprond IU:lgat Budgat Olanga Cha,g• ludg.t ,.~,.•,-..O•"•~-,•••"~~~~"'w••••,-s ,,, . .., ,····~·~•,s,S•<-e,~,--,·~,,,.,,-.,,.-~.,_,.,.,.~···, 

7,0 7.0 O.Cl'II, 7,0 

2,123,210 2, 1116,1191 72,1121 3A'll, 2,30l,2111 

1;514,7115 1,5119,0IIO 55,014 3.6'16 1,651,1171 

60ll,'185 6215,2!11 17.,11(11> 2.!IIJ6 650,410 

15,000. 15,0IIO Q.O'll, 15,000 

NIA 

3,000 l,OIIO O.O'lli 3,000 

92,252 93,715 1,463 1.6!!1, !il!,715 

s 2,D'-!122 s 2,307,IOI! s 74,2114 1,3,S, s 2,413,1111 

OFFICE OF BUSINESS INNOVATION: 2025-2026 BUDGET SUMMARY 

20.24 loanl 202!1 Pnpoll!d 

Apprond IU:lgat ludgat 

1!1.0 17.0 

20.24-202!1 

Olanga 

Pwalnl: 20215 Pnlpolllld 

Cha,g• ludgllt 

11,8 

s 

s 

20.25-20211 PIIKl!nt 

Chang• Chang11 ---~ 

O.D'!i, 

,_ "'···'"' ·"'''" .,~, •• .?--

!14,1!15 4.H 

215,172 'l.6'!1i 

11,023 3.5'11, 

0.0'!!, 

0.0'!!, 

0.0'!!, 

0.0'!!, 

14,115 4,1'11, 

2025-20:111 PIIKl!nt 

Chang• Chang11 ,--..-,·~~,-~-,-----~-,-~,-~"--"'""""•''"=·~·-,-,-----~,---, 

106,1!!0 

lt2,071 

24,119 

11115,111D 

2025-20:111 

Chang• 

O.D'!i, 

4.ll'll, 

5.2.'!ti 

3.!l'lti 

0.0'!!, 

O.!l'!ti 

O.O'lli 

0.0'!6 

4.11'11, 

PIIKl!nt 

Ch nllll 

2.0 11.8'11, !-"••••««""•"•~''-'"< ·= .. sc·· ,..,..,,.,,,,_,,..__,_,......,. ,, .,., • .,,,, ~~~-,.....,,,..,.,,,.~ ~ • ,... 

EimployaeComp@n5ati0n 4,103,729 4,IM,lB 7118;564 1Qll!ll, 5,6111,9117 797,103 IU'!ti 

Safilrills 2,II05,330 3,477,112 571,782 

lll!lll!lb 1,1911,-41111 1,407,182 lOl,782 

Travel 108,000 170,oail 70,11111> 

Rllnt/Glnm/Ulll 11,000 10,0IIO 1,000 

Admlnistnllw 11,300 6,500 200 

ContramdSelvicl!s 712,&24· 1,D44,173 331,3-49 

'lbtal s ~111,BD s 15,114,IIN $ 1,,u,111 

Note: Minor rounding differences may occur in totals. 

19.7!!1, 

17.4!!1, 

70.D'l6 

11.196 

3.2'lli 

24,Cl'II, - s 

4,056,775 

1,625,221 

170,11111> 

10,11111> 

fi,500 

1,544,173 

7,412,118 $ 

51!1,fifi3 16.1'!fi 

2111,040 15.5'!6 

O.O'lli 

11.0'll, 

1,21117,7111 21.2'11, 
87634 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 


lotter on DSK11XQN23PROD with NOTICES1EN04NO24.037</GPH>

OFFICE OF CONTINUITY ANO SECURITY MANAGEMENT: 2025-2026 BUDGET SUMMARY 

:IID'.2.4 Boanl :I.DH PropoMNI .211D4-.:1112S IWmnt 20:lllSPrapoad 21125-21311 IIWc:llnt 

Apprond IIUdgllt Budglt Chango Cllqo Budgn Chango Cllanga 

Pcllll:1D1'11 1.10 11.0 1,8 8,1 11,8 O.INi 

l/403,080 l.-,Dfi!I 292;!l!IO 1!1.6'11, 3,8611,731) 112,161 4,7'11i 

Salarlei 2,41'Vf73 2,629,41111 2'14,ilS &!I'll, 2,762,366 132,!t.57 5.l'lti 

8enslih IBll,206 1,Dli6,llli1 78,454 1.!l'!li, 1,IOli,365 311,704 3.7'11i 

Trav@I 25.aoo 2.5,000 

- 25,000 0.0'!6 

Al!lntlCOmm/Ulil 55,<IOCI 110,800 .55,000 100.ll'!I, 110,000 0.0'!6 

AdninislnliVII! 36,aoct 41,IIOO .5,000 U.!l'l6 41,l)OI} 11.0'lli 

Conlramc:I Sffllicl!5 2,2711,827 2,338.1211 59,3112 ~ 2,BB,12!> 0.0'!6 --~•~• <,~....,·,yy·· V''"'""' ~~- • • "•--~.--• =z·»y "'""-'<-.-.~--~--. ,-""'"••~-~--- _, •• "'""'"""'"'"''"'""" ___ ..,,_,..,~,.....-·-,--"'"'"""''',,.=,,.'""""-<'t...,,,._., •• , •• _.., 

Total $ l,797,IG1 $ 8,210,191 s 412,212 1.1,i, s 11,3112,IH $ 172,44!11 2.8'11, 

OFFICE OF MINORITY AND WOMEN INCLUSION: 2025-2026 BUDGET SUMMARY 

Pcllll:10111 ,.._..,. __ 

~OJl!I! Cmlpenllltlon 

Salarlei 

8enslih 

Travel 

. Rl!ntlComm/Ulil 

AdninlslmlVII! 

f.onm1ctad Services 

Total 

~OJl!l!Cmlpl!llllltlon 

Salarlei 

Bl!l'll!fih 

Travel 

: Rent IConm/Ulil 

Admlnllllr.lliVII! 

Conlr.lcmd Si!i'Vlia!s 

'lbtal 

21124Boanl 21121 PropoMNI 2024-.:11121 ~ 20:lllSPrapoad 

Apprond IIUdglt Budglt Chango Chango Budgn , ... ,... -- ----~-,~~---,,,-,...,-~,•,··-·••'"'''"'·-"""'"·""""" ", -~·"·-·~.,,-,~~-... ~ ........ ~--,,~.-~.,-.,·,·,,·,~---.-,~,-,~s,...,~, 

10.0 11.0 1,0 10.Cl'II, 11,0 

2,!1114,!t75 3,212,1126 327,1151 11.391. 3,521,1)36 

2,1162,2211 2,J04,2116 241,971> n.1,i, 2,518,582 

1142,747 !iZB,71& 85,972 1(1.291, 1,002,45S 

60,000 63,925 l,925 6.5'li 0,925 

11,5.511 .5,800 (6,550l -.56.7'11i S,l)OI} 

1114,11111 1911,500 14,320 1.B'!li 1!1&,,5(IO 

1,253,"lfi 1,1>13,500 '23!t.Hll1l -19.191. 1,013,500 

$ 4,414,174 s 4,51:,,1111 s 19,611 2.:,,i, s '\801,111 

OFFICE OFTHE CHIEF ECONOMIST: 2025-2026 BUDGET SUMMARY 

211124 Boanl 2025 PropoMNI 

Apprond IIUdglt Budglt 

2,12!1,fll 2,877,21111. 

1,IIIIS,2.51 2,064,IISli 

744,659 au.OJ· 

20,<IOCI 20,800 

4,200 4,200 

~· -.-

4,314 4,314 

$ 2,ID,274 s ll,210,Mll s 

211124-2021 

Chango 

247,311> 

17!tpo5 

67,764 

241.,ll70 

krmlt 202IISPrapollld 

Chang• Budgn 

9,491, 3,16S,22.5 

9,591, 2,2IIO,OW 

9.191. 885,176 

Q-O'll, 20,l)OI} 

ODIi, 4,200 

ODIi, 304,149 

ODIi, 4,314 

a.:,,i, $ ,._.,HI 

Note: Minor rounding differences may occur in totals. 

2025-20311 IIWc:llnt 

Chango Changa ,...,..,,.,-,s~.--,...,, .. ,,-,.,., .. -.-~,--,~"-,----·,----··"'''''"'" 

$ 

$ 

2811,111 

Wl,374 

13,736 

218,111 

2025-20311 

Chango 

O.INi 

11.fi 

!U'!i 

7.fi 

D.O'l6 

11.0'li 

0.0'!6 

11.0'li 

illMI, 

IIWc:llnt 

Change 

287,944 1 O.O'li 

21S,1!12 10.4'li 

72,7S2 !l.<1'16 

0.0'!6 

0.0'!6 

0.0'!6 

0.0'!6 

·-
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87635 


lotter on DSK11XQN23PROD with NOTICES1EN04NO24.038</GPH>

OFFICE OF CONSUMER FINANCIAL PROTECTION: 2025-2026 BUDGET SUMMARY 

21124Boan:I 2112!1 Pl'opolillld .21124-ll025 '--1t 2m6Prapollllld 2025-20:111 Pllmlnt 

Apprond Budglll Budglll Chang11 Cha,ga Budgat Chang• Changa 

Pmltlom 1.1.0 !14.0 3.0 !l.7% !14.0 O.O'!i, 

·····-····· 

--~---- 7,41,112 ll,184,404 6113,2!12 9.3!!1, 8,975,840 791,436 9.1% 

Salaric!s S;Mll,51)1 5,740,197 -.- 9.5'11, ll,322,.ll4 !ill2,Ull 10.1% 

BMllfitl; 2,250.105 2,444,207 193,IKl2 M'!I', ;!.653,50!> 109,:!llB 11.fi 

Travl!I 658,00II 650,300 300 IW'lli 6:50,lOO 0.0% 

Rent!Olmm/UIII • 3li,19S 33,600 13,lO!iJ -11.7!!1, 33,600 0.0% 

Admlnlslr.lliVI! 17,500 14,180 (3,lllll -19.l}!!i, 14,lt!O 0.0% 

Conu:!d:!!d S@rvla!Ji 100,000 19.5,000 . !15,0W 93.0% 195,0W 0.0% 

ll:ltal s l,2!15,407 $ 111,077,4114 s :Jm,077 111.4% $ 1,1111,120 s 71111,436 8.1% 

OFFICE OF THE CHIEF FINANCIAL OFFICER: 2025-2026 BUDGET SUMMARY 

ll0.24Boan:I 2025 Pl'opolillld ll0.24-ll025 '--1t 2026 Prapollllld 2025-2021 Pllmlnt 

Apprond Budglll Budglll Chang11 Clla,g• Budgat Chang• Changa ,~~-~~~~--- ~-~~-~-~--=- --~--~-~-~~ Plmltlom 55.0 55.0 CI.D'!I, 55.0 Cl.GIit 

fmplOJB!! UJmpl!llQtion 17,35;!.fillS 1tl,lil1,6l'!I 1,2711,995 7.4% l!l,482,9!17 ll!i1_a17 4Jl% 

5altvi!!! H,67!l,27S 13,1)53,4)12 1,379. l!llll 1t.8'!1, 13,10;!.4!i& 643,9116 olll'lf, 

ocro 9,1115,627 10,421,444 53!i)J11J S.'1'11, l0,9ff,292 544,847 !i.2!!1, 

OUm:lllti'lg 1,793,641 2,637J)3 843,3liO ifl.O'lii 2,736,11i6 9!l,13ll J.IJ'l6 

Bl!ffl!fin !i,!i73,410 5,573,207 (100,2113) -1»11, 5,180,539 207,332 3.7% 

ocro 4,11J2,fi8T 4,l(i2;453 179,71i6 4.3'!1, 4,527,016 164,563 3.8% 

<ilmwttiig 1,48,723 1,:no,754 (27!),!l691 -1,'1.8'!1, 1,2!i3,523 42,7611 3.!i'!!, 

Travl!I 51,720 (200,.oo5l (2.51 ,725) -4116.7% (200,DMJ OJ)'!!, 

00:0 58,000 S0,000 O.O'lii !ill,000 (l.O!!i, 

c~ 1,7211 (250,.oo5l (251,725) -1463!i.2lli (2:50,DMJ (l.O!!i, 

Rent !Olmm/Ulil 1,1172,375 1)117,225 (6115,15111 -34.7% 1,7'87,225 !ill0,000 3U'!& 

000 1,1172,300 1,216,807 '6115,4113) -348 1,2116,1!!17 (l.O!!i, 

c~ 75 41& 343 457.3% 500,418 SII0,000 11116172'!1, 

Mmlnisb:lliVI! 2,l161l,21111 2,138,336 70,1)56 3.'1'11, 2,638,336 !ill0,000 23.4% 

00'0 7111,000 7&1,500 70,;SOO 9.IJll, 71111,500 (l.O!!i, 

c~ 1,350,2ll0 1,349,1136 (4441 O.O'lii 1,849,836 500,000 37.1)'!1, 

Cootr.!dl!d S@rvlci!s {14,ll!B, 1!14) 3.,1146,718 18,-,912 1:ll!i.O'lii 11,126,713 7 )B0.000 111!l3'!1, 

00'0 3,455,747 1,1145,!147 390,200 4.6% 9,625,!147 711D,OOO fl.II'!!, 

c~ (23,255,941) (4,!l!»,221>) 18,25!!,712 78.5'11, 1,500,771 6,500,000 130.l)'lf, 

--~----- Total $ ., .. ,.- $ 25,'70!l,9B $ 11,G62,cll7 287.11'!1, $ Jll,SH,271 $ 1,1111,317 H,!l'lr, 

OCFOliltll 25,264,361 25,755,151 4911,7111 1.9% 27,244,562 1,4119,410 5.IJ'!I, 

CroS50Jttlllg {18,622,4!1!i) (!i1,l!llll 111,571,2117 !19.7% 7,5!!0,709 7,li41,!1117 141121>.1'!1, 

Note: Minor rounding differences may occur in totals. 
87636 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 


lotter on DSK11XQN23PROD with NOTICES1EN04NO24.039</GPH>

OFFICE OF THE CHIEF INFORMATION OFFICER: 2025-2026 BUDGET SUMMARY 

:111124 loan:I 2025 Propolllld 

Apprond IIIUdgllt Budgllt 

:111124-2025 

Changa 

Ptnmlt 202&Pnlpollld 

Cha,g• lucllllll: 

2825-28:111 

Chang• 

lllralnt 

Changa 

Pasll:lons !1111.0 50.0 Q,Cl'II, SILO 0.11'11, ,~-~-,=~~''''"'"""'""""""'"""""'.,.,.,....,,..,,., . .,....,,.,..,,._....~,,..,...,.,,,....,...,,.,~,.,...,.,..,._.,,,,.,,,,,,,,,-~,,.,,,-,-,.~~-,..,.-.,,,, •. ,"• ~w><•~•.-.,s~•~n,--~·•.•·'"'"'' "~o,--•.~--""'"''"''"""'"""°''"''''~'~'"•"'~~-,-, __ , __ ~----

&nplo,e,eCompensation 14;4411,251 t.5,051,91111 611,728 

:Saiarll!i 10)411.Sl!D t0,7(1g)ii0 462,741} 

Benefits 4,111'3,731 4,342,726 148,!llli 

Travl!I 611,000 ID,000 

Rl!l'lt/Coimi/Ulll 3,580,607 3,678,BSO !111,.243 

Adninlmallve 30,000 l0,000 

c.ormct@d Servlcl!s 44,457.705 46,4HJ)19 1,illl,113 

S 12,51111,!171 S 85,251,1555 $ :Z,111111,IIH 

4.2'11, 

4.5'11, 

16'11, 

Q.O'll, 

2.7'!6 

O.!l'lli 

4.5'!6 

15,777,1ll> 

11,28;155 

4,5117,!l&t 

60,000 

3,67B,850 

30,000 

411,931,81!> 

725,1.50 4.ll'lli 

5511,8!15 !i.2'lli 

165,255 !l.ll'li 

11.!l'lli 

11.!l'lli 

11.(19' 

2,S00.000 M'li 

4,J,i. $ .......... 5 S J,225,150 

OFFICE OF NATIONAL EXAMINATIONS AND SUPERVISION: 2025-2026 BUDGET SUMMARY 

:1111241oan:I 2025Propolllld :111124-2025 ~ 2028 Pnlpollld 2025-20:111 lllralnt 

Apprond IIIUdgllt Budgllt Changa Cha,g• lucllllll: Chang• Chana- ,,_. -· ---~-.---·-··---s,----·=-"·",=,···<s"'.,.,,,.,.,,.,_, ,•~.,,,-,,..- ... -. ~.~ .. ~ ... ··--·,·•-s·>-,,.,...,,, .. -""·"· ~"··,--·--,·,~-~·,·-,··"·'~'"'""""""~ 

Pasll:lons 54.0 57.0 J,O 5.8"' IQ.II !1,0 5,J'II, 

&nplo,e,e Compensation 15;2611,184 16,253,442 ill!i,258 15.5'11, 17,131,!!0!J 1,5111,466 !1.1'!1, 

Salam 10,IIOll;97B 11,532,251 723,273 6.7'!6 12,700,642 1,168,3111 10.l'lli 

Benefits 4,4511,2116 4,721;1112 261,9115 SJW. 5,131;267 410,075 11.1'!1, 

'Trnl!I 1,20D,0Clll 1,300,000 100,000 8.3'16 1,300,000 O.!l'lli 

Rl!l'lt/Commrtllll 511,000 63,350' 13,350 26.7'11, 63,350 11.!l'lli 

Adninlmallve 44,040 51,710 7fi'10 17.4'!6 51,710 O.!l'lli 

Contracted Seivlc:es 325,710 24!>,554 {76,1573 -214'!6 24t,554' O.O'lli 

'lbtal s 1&,1117,N4 s 17,'111,0S& s 1.mo,1:u 6.1'!1, s 111,AN,522 s 1,578,48 &.ft 

OFFICE OF CREDIT UNION RESOURCES AND EXPANSION: 2025-2026 BUDGET SUMMARY 

Pasll:lom 

&nplo,e,e Compensation 

Salaries 

llen@fits 

Travl!I 

Rl!nt/Comm/Ulll 

Adninlslratlve 

c.ormct@d Seivicl!s 

'lbtal 

:111124 loan:I 2025 Propolllld 

Apprond IIIUdgllt Budgllt 

41,0 41.0 

10,1143,394 t0,4111,IIOS 

7,11211,2SO 7,363,259 

3,015,144 3,12&,Mi 

l!Dll,GOO 250,000 

34,0Clll 32,000 

35,000 39,500 

561,0Clll 11115,000 

10,171,!JM 11,711,405 

:111124-.2025 

Changa 

4411,511 

335,11!1!1: 

113,5112 

.50,000 

(2,0IIOJ 

4,500 

345,000 

IM6,0'l1 

Note: Minor rounding differences may occur in totals. 

~ 202&Pnlpollld 

Chang• lucllllll: 

4.5'!6 10.1!15,1146 

U'!li 7,741,221 

3,&'11, 3,246,825 

25.ll'!Ei 250,000 

-5.!1'!6 32,000 

129'J& 311,500 

61.5'11i -.om 

7,8'11, 1U2~HI 

2825-20:111 

Chang• 

lllralnl 

Changa 

-~~--

503,140 

384,961 

1111,1111 

$501o,140 

4.ll'lli 

!i.2'lli 

!l.ll'li 

11.(19' 

11.0'lli 

11.!l'lli 

11.(19' 

4.!1'11, 
Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 87637 


lotter on DSK11XQN23PROD with NOTICES1EN04NO24.040</GPH>

OFFICE OF EXAMINATION AND INSURANCE: 2025-2026 BUDGET SUMMARY 

:111124 loan:I 2ou Pnpollld 

Apprcmd Budgllt Buda-t 

n.a 51.11 

2lll24-ll025 

Change 

!1.0 

lllrmnt 2m&Prapolllld 

Chango ludglll: 

S.7'11, 57,D 

202!1•2026 

Chango 

,.a 

Pacant 

Changa 

1.11'11, ---·~•'"''"°", C .. , "-• ,•C• • nc .C ,,,,_,, ,,, •· C ,h .. ,--~-~-- C •• "· C ,,, •• , .... Y. • .Y - • • '" 

'Employl!ll!Compl!llsatfon 14,71111.706 16,2Sl!>,581i 

Salaries 10;400,7112 11,5118,725 

lll!l'll!lils 4,305,U4 4,710.UO 

Travlll 445,0lllt 550,DIIO 

Rent /Coinml'Ulil 34,500 ,35,DIIO 

AdmlnillnllW! l-W,600 286,665 

Cmilr.K:ted,Slmrlci!s 1,120,0lllt 817,717 

1,5g2,179 

1,187,1143 

-404,.!>:iii 

IOS,000 

SOD3B,llti5 

(Zll,21J) 

10M!, 

11.4!!1, 

9.4!!1, 

ll.6!11, 

1.4!!1, 

U.3!11, 

-20.7'11, 

11,619,732. 

12,573;5& 

5,046,142 

SS0,000 

35,000 

286,665 

1117,7117 

1,320.14 

!1114,864 

335,2112 

O.O'!li 

ODIi, 

Oill'lfi ,..,_,._,,."_,_, _____ """-""''"''""'"'"'-""'"'""''""'""''~"'-=----· ~ .. Y "~~""""""'~"""' "·•"-=--•"""·"~-.,~- ·"'"""-•'""w'''"" + '"""""~~"" .·cw= ·---··y·c""""""°'"'""'~ ... ~•.~.--,··,·~, 

'lbtal $ 16,554,8111 S 111,0Sl,11111 S 1,504,ll1 9.1'11, S 11,379,114 $ 1,120,146 7.!1'11, 

OFFICE OF GENERAL COUNSEL: 2025-2026 BUDGET SUMMARY 

2111241oan:I 20.2!1 Pnpollld 2lll24-ll025 lllrmnt 2ma Prapolllld 2025-2026 Pacant 

Apprcmd Buda-i Buda-t Change Chango ludglll: Chango Changa -<·~"~·•-=,•~-,·-~··-···,--.-,~,....,-~, -··· ·----~ .. ,..,_.,,--.,;.,....,,.,-s,.,._e••s-,,,,...,,,,,,._,,....,,,,., .• ,.,...,..," ,-.~ ,,-,.-.·,-,....,...,~-,·~-,·,·,·,,·,.,,,,-,.---·--,-,,,.,..,.,~.,--,.,s-. 

FGlll:lom 46.0 471J 1,D 2,2'11, 41,0 :a.a 4.!1'11, 

Employl!II! Compllllsatlon 14,3411,034 14,581,421 233,387 1.6!!1, 15,728,1181 1,1"16,660 7.!l'lii 

:Salaries 10,253.644 10,420,31>1 166,747 1.6'!6 11,274,456 ll!i4,GM B.2% 

8enl!lits 4,DM.3!1D 4,1-61,0JO 66,640 1.6'!6 4,453,625 202,5!15 7.0'!li 

Travel 911,00D 90,000 omr. 90,000 O.O'!li 

Rent /Coll!l'II/Ulil 3,000 4,000 1,000 n.3'11, 4,000 ODIi, 

AdmlnlslnllW! 5,000 s,oao O.O'!li S,000 0.0'!li 

ConlrlldldS@nlkl!i 4Bll,OOD !ISO,DIIO 470,000 97S'lla ti0,000 O.O'!li 

'lbtal s , .... H,111!14 s 15,UD,421 s 7114,!187 4,7'11, s 111,777,081 s 1,146,ellO 7.!1'11, 

OFFICE OF HUMAN RESOURCES; 2025-2026 BUDGET SUMMARY 

2m41oan:I 20.25 Pnpollld 211124-2025 lllrmnt 2ma Prapolllld 20,25-2026 Plmlnt 

Apprcmd Buda-l Buda-t Changa Chango ludglll: Chango Changa ,.,,., .. , ,, ... .-,qc •" ., ...... ,......, 

Palltlom 46.0 UIJ 6.5'11, 41,0 Q,O'JI, 

Employl!II! Compl!llsatilm 13,4",410 ts,3(19,490 1,1113,1181 13.4!11, 16,093,ill 784,042 !i.l'lli 

Salaries 11,512,523 9,7<1&,362 1,195,139 14.l)'ll, 10,303,181 ~19 6.l'lli 

8enl!fits 4,!183,8117 S,li01,12!1 -617,242 12.4!!1, 5,790,.ll'1 189,223 3.4'1ti 

Travlll 2,460.000 2,747,500 287.,500 11.7'11, 3,747.,500 1.oao.000 36.4'1ti 

Rent/Coll!l'IIIUIII 3211,tOO 41111,DIIO 140,400 427'11, 1,019,000 SS0,000 117.3'lli 

AdmlnillnllW! 1,16-.5,tiO 975,litJ (1!10,2.S7J -16.3'11i 1,225,6113 250,000 2!i.6'II, 

Cantr.lmdS@nllci!s S,1H,4SB 5,326,2.J!II 136,121 L6!II, 5-521,2.n 200,000 3.ll'lfi 

lbtal s 22,M0,418 s 21,1127,N2 $ 2,,1117,545 9.7'11, $ 27,812,D04 s 2,7N,CIG 11.2'11, 

Note: Minor rounding differences may occur in totals. 
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OFFICE OF EXTERNAL AFFAIRS AND COMMUNICATION: 2025-2026 BUDGET SUMMARY 

JD24loan:I 21125 Proposed 2024-]11125 P4lmlnl: 2026Prapolll!d 2025-2026 Pam!nt 

Approad Budgllt Budglll: Changa Chang• ludg.t Chang• Changtt -·-------•-s--•-----··- ---~ -------- ------------- ------~----------~--------------,---------------- --------------- ----------·---------------s-------- -- ------

Pmltlons 15.0 18.0 3.0 20.lffl, 20.0 2.0 11.1'11, - ------ ---- -------------

EmployooGlmpenYtioo 3.,931.7311 4,4119,61111 556,llli9 14.2'1& 5,1111,!ffi2 MJ.355 15A'li 

Salaries 1,175,240 3,1611,537 393,297 14.2!!!, 3,t60,100 491,564. 15.5% 

llerll!lb 1,157,- 1,311,071 163,571 14.1!!!, 1,S11,1162 21111,1!11 112% 

Travel 511,000 50,000 OJ)!!!, !ill,000 0.0% 

Rl!ntl'Comm.lUUI :11,500 30,500 (2,000J "'6.2!!!, 30,500 0.0% 

Adminisbaliw 174,400 211,750 311,350 220'JI, 112,750 0.0% 

umlr.lded S!!IViceS 2,279,500 2/J(fl,500 <illll,000 30.2% J.967,500 0.0% ----------- ----

'lotal $ 6,-,13· $ 7,750,3511 s 1,3111,219 19.8'11, s ll,AG,71Z $ 82,355 ·-- ASSET MANAGEMENT AND ASSISTANCE CENTER 2025-2026 BUDGET SUMMARY - - -

! 202410:an:I 2025 Pl'opoHd 

Budglll: 

:zm4-302s P;iraant 2m6Prapolld 

Changa Chang• ludg.t: 

2025-2038 

Chang• 

Fllmlnt t-; Approad Budglll: Changtt -------·------------------~------- t~·-·--.. -_-_-=_------~-~~~~--- ----------------------------------

1=-

1 Travel 

Rl!nt IComm.lUlil 

Admlnislraliw 

Contr.tcmdS!!IVla!i I lbbl . ------····-~-·-··•--········•-·-···-· .. $ 

no 

5,!ISJ.098 

4,185,-

1,761i,4119 

l15,2lffl 

ti,113 

65,341 

167,500 

6,4'Hl)IJ2 $ 

23.0 

6,oli4,529 112,431 

4,270,599 84,!l!lO 

1,7!13,!IJO 27,441 

115,280 

11,150 6,lll7 

63,501 (1,840l 

1,320,500 1,053,000 

7,5ll5,NO $ 1,1119,628 

Note: Minor rounding differences may occur in totals. 

0.0% 23.0 O.D'll, 

1.!1% fi,356,242 191,713 4.H 

1ml, 4,493,715 223,116 3.2% 

1.11% l,&i2,527 ffl!,5!17 3.11% 

0.6% 125,2!!0 0.0% 

- 12,150 

-1.lffi 113,501 

3!13.61b 1,310,500 

1&2'11, $ 7,fD7,17J $ 
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EASTERN REGION; 2025-2026 BUDGET SUMMARY 

211241oanl :ZIIJ5Propolll!d 21124-211125 Plrmnl: :zm.111Prapoad 2021-202111 Pllmlnt 

Apprond aidglt Budglll: Changa Chq• lu~at Chang• Chana- ,,, __ ,,,,,,,,,_.,,,,,,,.., •• ,, .. ,.,_. _______ ., ____ ,, .. --····- - --- ,, • .,, - - -•-=•·----~----·"~-,,. -·~·- -·----··--···-·"~""' .. ,. - - - """ ~---.. ~,, .... ,, .. ·-·----. ---------· ·---- ,__ ,. .... ,.,. __ .......... ., ...... - . - - - --··- ,., ..... _ -.-- -- ---· 

tom -.o :ZIO.D (4.0) •1.5'11, HG.D o.-

&nployl!ll! Qlmpl!IH;r,lion 53,701,839 .57,7S0,2fi!! 4,048,431 2,052,457 3.R 

'Salaries 37,1611,964 40,D!l9JI07 2,!Bll,1143 7.l'lli 41,-liBl,lilil!J 1,5Bli,ll62 'I.O'lti 

8enl!lils 16,5l,2;87.5 17,650,463 1,117,5111 6.11'!1, IB,116,1)57 4l5,5DS 2,li'lfi 

Tram 3,6511.GO!) 4.12'5,DIKI 47.5,000 13.D'lli 4,525,000 --- !l.7'1fi 

Rant ICorimlUIII - 288,610 359,DXI 70,410 24.4'!ti ,35',oat) 0.0'!!, 

Admlnlmllw, 11D,200 225,490' 36;2!11) 19.2'16 225,4!!0 G.O'II, 

c.ontr.rted Se1v1ces 144,GO!) 179,0UO 35,.000 24.3'li. 17D,OOO O.O'lli 

Total $ 57,tn,MI $ G,111311,779 S "11115,1111 11.0'!i, $ 15,DPl,ZJI $ :Z,452,457 1,.9'11, 

SOUTHERN REGION: 2025-2026 BUDGET SUMMARY 

ZIIZ41oanl 2025 Propolllld 21124-.211125 Plrmnl: :Z02111 Prllpoad :ZO:Zl-:ZDZIII Almlnt 

Apprond Budglll: Budglll: Changa Chang• lu~at Chang• Chan.ga ..... ---.------·~ 

Pmltlom DLO :Zl:I.D (:a.DJ -0.9'11, DZ,D o.-

&nployl!ll!Qlmpamtion 46, 1.54,367 47,873,2!111 1,na,930 3.7'!1, 4D,111S,- 1,!142, 1 !IS 4.1'11, 

Salaries :11,a11,n3 ll,112,DM 1,300,381 4.1'!1, 34,592,819 1;4110,724 4.5% 

8enl!lils 14,342,6.54 14,701,2113 4111,5411 29'11, 15,'Z22/i77 461,474·, 3.l'!i 

Tr:ivel 4,5113,GO!) 5,1-43,0UO 565,000. 12.3'16 S,5411,000 4CIO,OOO 7.Mli 

Rl!nt /Olmni/UIII !19'2,400 373,855 (111,545} -4.7'!1, 373,BSS' G.O'!I, 

Admlnistrallw, 2211,410 1Sl;44:i ·- (74,!lliSl -32.11'!1, 153,445 G.O'!I, 

Conlnlmd Sffllcl!J Uli,GIIII' 179,70', 3,675 2.1'11, 17!1,7li!I G.O'II, 

~-»"--~~-------~----.~-~--·· •• ,.,.,.,,._=,....,. •• , • ..,,.,,,..,-.,. ...... ,~- •• . .....,,~,.,,._,.~ ..... ,.~---- --~-.. -~~ .. -~~=-·-· ---· _ .. _, --__ .. -·· --· - .. ~~'"""""'"'" 

, Total $ 51,554,215 $ a,na,1e1 s :Z,1M,OH 4,J'li, s H,070,559 $ :Z,ll4:Z,1N 4A'J1, 

WESTERN REGION: 2025-2026 BUDGET SUMMARY 

JDZ41oanl ZDZS Prvpolld .21124-.211125 Plrmnl: :Z02111Prllpoad 2D.21-:ZD2111 Almlnt 

Apprond Budglll: Budglll: Changa Chang• lu~at Chang• ChanaPmltlom :M&O 244.D (4.0) _, __ 244.D o.-

&np!OJl!II! Cmipmsatton 50,25!1,3211 S2,825JI01 2,566,473 5.1'!1, 54,346,780 1,52o,97!1 2.911i 

Sallrle! .34,IIK,296 36,670,49 1,976,167 5.7'!1, 37,1.54,863 1,1114,3119 3.2'11, 

8enl!lils 15,5&5,0!11 16,1.55,!131i 5!1D)Ol!C J.a!i. 16,411,917 3311,,519 2.l'11, 

Travel 6,000,000 6,600,DDO -.ooo 1Q.O')I, 6,11115,000 305,000 4.6'li 

Rl!nt IComni/UIII -. 258,500' 286,0UO· 27,5!11> t<Wi. 286,000 G.O'II, 

Admlnlstrall1111 141,600 252,800 11,200 4.li'!I, 2.52,IOO G.O'II, 

C'antradRdSe!Vla!li 212,00li 200,oao (12,000) -5.7116 200,000 G.O'!I, ,. . .,.,,_, __ ·..,,.,,y,,.", ,.,.,,,..,_,..,.,.,,..,.,_, ·---· ,,~,.,,,,.,,_...,.,,.,.,,_,._.~·-..,.,_.,.-. 

Total $ ,111,1171,.42• $ eo,11114,ecn s il,1119,174 5.- s 11,NO,HD $ 1,125,979 1,.D'II, 

Note: Minor rounding differences may occur in totals. 
87640 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 


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IX Appendix B: Capital Projects 

NATIONAL CREDIT UNION ADMINISTRATION: CAPITAL INVESTMENT PROJECTS 

DMIUlptlan 21124Bo::rd ::21125 Raquasllll!d 2021 RaqUMttld Appnmid ---~~-•-----~------x ______ ,,_,_, --------------·-- ~lon'llldlnalaw mastm!lllb 

Elcaminatioo and5uper'fflion Sclulion/MElllT Enhanaml!nb s 540,000 $ 1,771,000 s 576,000 

OCllld Migrlllioo&Modemizlllion s $ 1,l00.000 $ 2,806,000 

M!lwolkAa:!!sscootrol $ $ 1,ll50.000 s 

ID on lmprovingttieNalloo'i;~ s 1,4llll,OOO s 850,000 $ 250,000 

!Tlnli'~strudurt1, Pbtmnn :and Serurity llml!;h s 1,294,(l(J} $ 773,000 $ 

Pl!rformana! ~ Sl'51@m $ $ 750,000 $ 

EnlerpriM! lapmp lll!m!sh $ s 550,000 s 4,3115,000 

Onboanling/ Ollboording Sclulioo and l'Nsonni:t 5'!rurily CISI! $ 730,000 $ 300,000 $ ~System 

MARSamKUSOD@wlopmentiillld~ $ s 2Ci0,000 s 

Gmer.itivt1 Al l..k:anslng s s 25,000 s 

Sy.sb!m Updates ror SignlliG!nt R!!guWDry Olan!Ji!S $ $ 300,000 $ 300,000 

CUllE l'rOCl!SS Aummalloll s 1,100,000 $ 1,000,000 $ 

Off-~tl! Moniklrlng l'rqect $ s 250,000 s 

ONES DoolratmCompuiing Rl!sooKas $ $ 411,000 $ 

llita Gllfoclloo and 5h.iring Solution $ 21l8,000 $ $ 

Mkmsolt Fower l'llllfDfln/MJli5 Enhanc~ $ 500,000 $ $ 

I 

NCUAWl!bsib!D~ $ 100,000 $ $ 

I ltllancM from compll!lm prior-)'ml' projKn $ (1, 1611,llOOj $ (1,500,000) $ 

I AnlidPl'ffl!(f Addltian:il lnfmnalion Tochnology lnws1ments $ $ $ 3,733,llOO • ~-~-~--. ·-,~~---~---• -----•-- -,, •-•----v--,,~---~ , ,-

Total, Information l«hnolo ,'IIINll11111111:s $ !1,712,000 $ 7,729,000 $ U,OSQ,ODD 

•1 Capital bulldlng mpnn11111!111b and npaln 

-----~~~---------------

Q!nlr;il~ma~:ndrClpair $ 477,(i(J} $ 4!!0,WO $ 430,000 ~~-~----~- - - -

-------------~-.------ ·----~-----~----- I Grand Total, Capital PnJed1 $ l,lfi,000 $ lt,209,000 s 12,500,000 I 

I 
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Project name Exammatioa and SUPen1sion Solution/MERIT EDllancements 

Project sponsor Office of Business Innovation 

Office of the Chieflnfotmation Officer (OCIO) 

Customers/ Internal: Office ofBxaminati()ll and Insurance (E&I), ONES, All Field Program 

benefldaries Offices, OCIO, CURE, OHR, and OCFP 

Bxtemal: Credit Unions, State S--· . :..... y Authorities (SSAs) 

Budget Sin fflousands 2024 2025 2026 2027 2028 

Aoouisition $540 $1.771 $576 $1.600 $1.600 

Ooe.rations and Maintenance $11,944 $9,358 $10,904 $12,427 $12,604 

SIF $216 $216 TBD TBD TBD 

UnktoNCUA Strategic Goal 1: Ensure a Safe and Sound Credit Union sxstem. Bxamination and 

strategic goals Supervision Solutions (ESS) tools will enable credit union examiners to fulfill NCUA 

strategic objective 12, "provide high-quality and efficient mpervjsion." by providing a 

more effective and secure examination tool. 

Strateg!c Goal 3: Maximize organizational perlom11mce to enable mission success. 

ESS will enable credit union examiners to perform their work more efficiently, helping 

the NCUA achieve strategic objective 3.2, "deliver an efficient organizational design 

• bv imnroved business and innovation." 

Detailed project In addition to on-going operations maintenance, the 2025 capital investment will focus 

description on upgrading the MERIT system platform to take advantage of security improvements, 

a streamlined interface and new record management capability; partnering with E&I to 

modify the Information Security Bxamination program. toolbox to generate files that 

can be imported into MERIT, which will result in new examiner efficiencies; and 

supporting OCIO with the implementation of single sign-on for applications including 

new reports via NCUA Connect. 
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Project name Cloud Ml2ratioa & Modernization 

Project snonsor OClO 

Costomers/ All .intemal. and external users ofNCUA softv.ve products. 

beae8.ciaries 

Budget $ ID thousands 2024 2025 2026 2027 2028 

Acquisition $0 $1,300 $2,806 $3,100 $1,000 

Operations and $0 $0 $0 $406 $3,506 

Maintenance 

LiaktoNCUA Stratelric Goal 3: Maximize ornanizational t.ierfonnance to enable mission success. This 

strategic. goals capital project supports strategic objective: 3 .2, "deliver improved business processes 

supported by secure, innovative, and reliable technology solutions and data" by updating 

and optimizing existing agency applications for cloud capabilities and moving them to 

cloud~based environments. 

Detailed project The Cloud Migration & Modernization capital project is a major multi-year investment 

description that involves moving applications, data, and IT infrastructure from on-premises, or legacy 

systetris,, to cloud-based environments. This project will also include updating and 

optimizing existing applicatiom. for cloud..native capabilities. By leveraging the cloud, the 

NCUA can also avoid costs related to data center hosting. IT hardware purohasing, IT 

maintenance, and associated IT labor costs. IT Security will be enhanced as Vl>-e.11 with 

cloud security, network, :firewall, and logging. 

By leveraging cloud infrastrueture NCUA will be able to further adhere to federal 

strategies such as the Cloud Smart Strategy, Zero Trust Architecture, and independently 

operate a Trusted Internet Connection (TIC 3.0). This is a phased. multi-year project \vith 

Phase 1 beginning in 2025 and over 2-'3 years, will involve moving numerous computing 

and stomoe infrastructure assets to a cloud-based environment. 

Prolect name Network Access Control 

Project sponsor OCIO 

Cnstomers/ Internal: All NCUA 

beneficiaries 

Budget $ ID fflousaads 20l4 20l5 2020 2027 2028 

Acquisition $0 $1,050 TBD TBD TBD 

Operations and $0 TBD TBD TBD TBD 

Maintenance 

UnktoNCUA Strategic Goal 3: Maajm~ ~tional Pt}ffomuince tQ enable missign s1~ess. 

strategic goals This capital investment supports strategic objecti've 3.2, to "deliver improved busmess 

processes supported by secure, innovati¥e, and reliable technology solutions and data" 

by identifying and implementing service improvements to replace end-of-life and 

unsupported systems currently in place at the NCUA This investment will implement 

more se.,,ire and user-enhanced services that will reduce the impact of current services: 

that pretrent a hi~her risk of vulnerabilities. 

Detailed project This project will strengthen the NCUA 's networlc security by automating and 

description enhancing security patch management and scanning functions for users coonected to 

the agency's networics. In addition, this project \Vill integrate the NCUA 's firewall 

services \vitbin the overall networlc :inftutructure and with the new patch and scanning 

functionality. 
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Protect name 

Project sponsor 

Customers/ 

beneflduies 

Budget 

Executive Order on lmproviQ the Nation's CVber:securib· 

OCIO 

Intemal: All NCUA 

EXtemal: All Cn!dit Unions 

$ in thousands 2024 2025 2026 2027• 

Acauisition $2,408 $850 $250 TBD 

Ooerations and Maintenance SO $0 $536 $825 

2028* 

TBD 

$867 

• Budget estimates fur 2027 and beyond are dependent on guidance from the Office of Management and .Budget and the 

.- and~ Securitv Agency related to the varlou$ domains of the EO. 

Link to NCUA Strategic Goal 3: Maximize organizational performance to enable mission success. This 

strategic goals multi-year capital investment supports strategic objective 3.2, to "deliver an efficient 

organizational design supported by improved business processes and innovation" by 

enablirur conmliance with EO 14208 Imurovinv the Nation's Cvbersecuritv. 

Detailed project 

description 

The purpose of this capital investment is to ensure that the NCUA com.plies with EO 

14208, Improving the Nation's Cybersecurity. The project will enable the appropriate 

applications to use Multi-Factor Authentication, ensure adherence to Supply Chain 

Risk Management best practices, and implement Zero Trust Arclutecture for the 

NCUA's inftastructure and annlications. 
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Proiect name Information Tedm.oloev Infrastructure, Platform and Secur:itv Refresll 

Proiect sponsor OCIO 

Customers/ Intemal: All NCUA 

beneficiaries 

Budget $ In thousands 2024 2025 2026 2027 2028 

ACQUisition $1,294 $775 TBD TBD TBD 

Operations & $1,068 TBD TBD TBD TBD 

Maintenance 

LiaktoNCUA Strategic Goal 3: Maximize orppizational performance to enable mtssion success. This 

strategic goals capital investment will help the NCUA achieve strategic objective 3.2. to "deliver 

improved business processes supported by secure, innovative, and reliable technology 

solutions and data" by replacing end-of-life and unsupported systems currently in place 

at the NCtJA This investment reduces risk to agency systems by implementing more 

secure and user enhanced services. 

Detailed project This project will allow the NCUA OCIO to refresh network and platfonn hardware, as 

description well as infrastructure components to ensure business continuity and efficient operations 

by improving system availability. stability, and security. Projects include refreshing 

infrastructure, hardware, and the professional services required to migrate and harden 

the IT services for oroduction readmess. 

Proiectname Performance Manat1ement System 

Project sponsor Office of Human Resources 

OCIO 

Customers/ Intemal: All NCUA Offices 

beneficiaries 

Budget $ In thousands 2024 2025 2026 2027 2028 

Acquisition $0 $750 $0 $0 $0 

Ooerations and Maintenance $0 $0 $136 $136 $136 

LiaktoNCUA Strategic Goal 3: Maximize orppizational performance to enable mtssion success. The 

strategic goals Performance Management System (PMS) replacement project will assist all NCUA 

employees to perform their worlc more effectively and efficiently, supporting strategic 

objective 3.2, "deliver an efficient organizational design supported by improved 

business processes and innovation." The new PMS will be the NCtJA's primary system 

for . . : nerformance plans and annual nerfonnance evaluations . 

Detailed project This capital investment will facilitate the employee performance management program 

description for all NCUA employees by supporting modernized. phased worldlows for 

performance plans and evaluations, user and administrator dashboards,. and overall 

ntofover350 A plan temi>lates. 
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Pro.led name Enterprise Laptop Refresh 

Project sponsor OCIO 

Custome.rs/ Internal: All NCUA 

beneficiaries 

Budget $ iD thousands 2024 2025 2026 2027 20.28 

Acquisition $0 $550 $4,385 $1.50 $150 

Ooerations & Maintenance $0 $0 $0 $0 $0 

LtnktoNCUA Stl'ategic Goal 3: Maximize organizational performance to enable mission success. The 

strategic goals 2025-26 Enterprise Laptop Refresh pl'Oject will help employees perfonn their work 

more effectively, efficiently, and securely, supporting strategic objective 3.2, "'deliver 

improved business processes supported by secure, innovative, and reliable technology 

solutions and data.'' Upgraded hardware provides staff with new functionality and 

enhanced security features that improve user productivity, increase mobile 

.functionality, and lower IT administrative costs due to a decreased need for support 

services. 

Detailed project The purpose of this capital i.11vestment is to boost overall agency productivity, 

desc.ription efficiency, and security by providing the NCUA staff with laptops that o.ffer improved 

processing power and speed to run multiple applications more effectively, enhanced 

mobility features like reduced weight and longer battery life, and advmced security 

features to better combat evolving cyber threats. In 2025, capital funding will provide 

for the selection of new, standal.'d laptop configurations and testing of those laptops and 

their operating system with the NCUA's existing business applications. 

Future year costs are associated with the expected purchase of additional laptops and 

peripherals. By including hardv.'Sre and operating system support in the purohas:e 

contract (and follo'V\ling a 3-year replacement lifecycle), the NCUA will be able to keep 

pace with changes in workstation and operating system technology in a cost-effective 

manner. 
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Project name Onboarding/OftboardlDg Solution and Personnel Security Case Mauagement 

Svstem 

Project sponsor Office of Continuity and Security Management 

OCIO 

CUstomersl Internal.: All NCUA 

be:Jleftclaries 

Budget $ in thousands 2024 2025 2026 2027 2028 

Acquisition $630* $300 $0 $0 $0 

Ooerations and Maintenance .$0 $315 $331 $348 $365 

"'Ex.ehldes a $100.K reorol!1'3.Dl1llf.ru aooro,<e<t in 2024. 

LtnktoNCUA Strategic Goal 3: Maximize m:ganizational ~ormanee to enable mission success. 

m-ategic goals Specifiea:lly, this capital investment will help achieve strategic objooti,-e 3.2 to, "deliver 

improved business processes supported by secure, innovative, and reliable technology 

solutions and data" 

Detailed project The purpose of this project is to develop a new personnel security management system 

description for NCUA in compliance with the Trusted Workfuree 2.0 directive promulgated by the 

ODNI and OPM The NCUA cuxrently Jacks a centralized system to manage employee 

and contractor onboarding and o.fiboardmg data Instead, the agency relies upon a 

combination of legacy SharePoint applications, the~ employee timekeeping 

system, and the~ recruitment system to track and manage this infonnation. 

This capital investment will deploy a centralized IT solution to maintain onboarding 

and oftboarding data for both Federal and cootractor staff per requirements established 

bv the ODNI and OPM 

Prolect name MARS and ClJSO Development and Reoorts 

Project sponsor Office ofE:xamination and Insurance 

Customers/ Intemal: All NCUA 

beueftciades Ex.ternal: SSAs., Credit uniomi, CUSOs, credit union leagues, vendors, and consumers 

Budget $ in thousands 2024 2025 2026 2027 2028 

Aoouisition $0 $260 $0 $0 so 

Ooerations and Maintenance $0 $0 $0 $0 $0 

LtnktoNCUA Strategic Goal 1: Ensure a safe, sot111~ and viable S:'istem of COOQ!!!tive credit that 

strategic goals _t)Ntects consumers. This capital investment facilitates strategic objective l.2, ''provide 

effective and efficient supervision," by collecting and reportin,~ data that supports the 

examination and supervision process efficiently using improved technology. For 

example, MARS development improves the agency's management of the annual 

examination resource planning processes and improvements in TMS accurately capture 

examiner time to guide resource planning. 

Str~c Goal 3: Maximize organizational ~rfonnanc.e to enable mission success. This 

capital investment also supports strategic objective 3.2, "deliver improved busi:uess 

processes supported by secure, innovative, and reliable technology solutions and data,, 

by enhancing systems '· • :::: sclledule to match agency data collection 

regulatoi:y changes, '· • ..;.,1,- in the :indui>'tty, and the annual e.,wn resource 

bud.!ret,.,.,,,.ess. 

Detailed project This project -will fund short-term contract.or support to develop data collection forms and 

treSCription CUSO Reports, such as the CUSO Online form and rem.ign I\.1ARS and TMS 

development in support 01 . new .1rork code classifications, new examiner 

sne<'.ialties. and new suoervisorv ort"\UOS. 
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Project name Generatn-e AI• . 

Project soonsor OCIO 

Customers/ Internal: All NCUA 

beneficiaries 

Budget"' $ iD thousands 2024 2025 2026 2027 2028 

Aoouisitioo $0 $25 $0 $0 $0 

Ooerations & Maintenance $0 $0 $662 $713 $766 

* The 2025 budget amounts 1bnd initial. litenSC$ to pilot and test the use of Al tools at the NCUA. Future year budget amounts 

reflect assumed of the tool to the u:encv. 

LiDktoNCUA Stra~c Goal 3: Maximize Qiganizational performance to enable mission success. 

strategic goals This capital project will support strategic objective 3.2, "deliver improved business 

processes supported by secure, innovative, and reliable technology solutions and data" by 

le\>-cragmg the power of next-generation Al to increase individual and organizational 

ce. 

Detailed project This capital investment will fund a pilot program to test the capabilify of an Al tool for 

descrintion nnssible develnm-.nt across the NCUA 

Project name System Updates for S - t Resmlatorr ChaDIH!S 

Project sponsor OCIO 

Customers/ Internal: Various NCUA offices 

beneficiaries Extemal: Credit Unions. Credit Union Members, SSAs 

Budget $ in thousands 2024 2025 2026 2027 2028 

Acquisition $0 $300 $300 $300 $300 

Ooerations and Maintenance $0 $0 $0 $0 $0 

LinktoNCUA Strategic Goal l: Ensure a Safe and Sound Credit Union §Istem. This capital 

strategic goals investment will enable agency staff to better fulfill NCUA strategic objective 1.2, to 

"provide high-quality and efficient supenision" by providing high-quality. low 

defect, and secure applications that support examination and supenision functions. 

strategic Goal 3: Maximize organizational performance to enable mission success. 

This investment also supports strategic objective 3.2, to "deliver improved business 

nrocesses SUDDOrted bv secure, innovative. and reliable tecbnolo~ solutions and data." 

Detailed project This project will allow NCUA to update applications and databases to accommodate 

description new regulatory requirements or initiatives. Often, multiple legacy systems are impacted 

when regulatmy changes are finalized, or new initiatives are approved by the NCUA 

Boero. These changes can be significant, requiring additional time and resouroes to 

ensure that the affected svstems are uodated before the rule takes olace. 
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Project name CURE Process Automation 

Project sponsor Office of Credit Union Resources and Expansion 

Office of the Chief Information Officer 

Customers/ Internal: CURE and Regional staff 

benefidaries External: All credit unions and .. IU'OUVS 

Budget $ in thousands 2024 2025 2026 2027 2028 

ACQUisition $1,100 $1,000 $0 $0 $0 

Ooerations and Maintenance $0 $0 TBD TBD TBD 

LinktoNCUA Strategic Goal 2: Improve the financial well-being of indi"iduals and communities 

strategic goals thro!,!gg access to affordable and equitable financial products and services. This capital 

investment \11ill develop an external-facing portal for organizing groups to submit 

charter applications for new credit unions. This project directly supports the strategic 

goal by making it easier for stakeholders to charter new credit unions, which will 

provide financial products and Set"\iices to additional groups and expanded geographic 

areas. 

Detailed project This multi-year process automation project \11ill implement an external-facing portal for 

description organizing groups to submit their new charter applications. The portal is expected to 

include forms for submission of information and data, the ability to upload supporting 

files, and a visible timeline so that applicants can track the status of their submission. In 

addition, the project \\sill incorporate the NCUA 's current tool for submitting field of 

membership expansion requests, CAPRIS, and the agency's doc~ent file and 

worldlow svstem. MAGIC. 

Projectname Off-Site Monitoring Project 

Proiect sponsor Office ofExamination and Insurance 

Customers/ Internal: All NCUA 

benefidaries 

Budget $ in thousands 2024 2025 2026 2027 2028 

Acquisition $0 $250 TBD TBD TBD 

Ooerations and Maintenance $0 $0 TBD TBD TBD 

LinktoNCUA strateg!C Goal 3: Maximize organizational performance to enable mission success. 

strategic goals The off-site monitoring project \vill improve the agency's ability to gather and review 

information in a timely manner white reducing the needed resources. This "'ill improve 

the efficiency of the NCUA's primary \\>'Ork activities in support ofNCUA strategic 

objective 3.2, "deliver improved business processes supported by secure, innovative, 

and reliable technolMv solutions and data." 

Detailed project The goal of this investment is to reduce burdens on examination staff during off-site 

description monitoring while streamlining the way that offices identify emerging and increasing 

risks to the Share Insurance Fund. 
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Project name Office of National Examination and Supenision (ONES) Dedicated Computing 

Resources 

Project sponsor Office of National Examination ands_ .;,.;on 

CUstomenl Internal: ONES, Regional Large Credit Union Program examinations 

beneficiaries Extemal: Credit Unions with Rre8.ter than $10 billion in assets 

Budget $ in tJlousands 2024 2025 2026 2027 2028 4 ... on $0 $48 $0 $0 $0 

Operations and $0 $0 $48-$77 $48-$77 $48-$77 

Maintenance 

LinktoNCUA Stratestlc Goal l: Ensure a safe. sound, and viable svstem of coooerative credit that 

strategic goals protects consumers. This capital investment facilit.ates strategic objective 1.2, "provide 

effective and efficient supervision," by collecting and reporting data that supports the 

examination and supervision process efficiently using improved technology. 

Strategic Goal 3: Maximize organizational wformance to enable mission success. This 

capital investment will help achieve strategic objective 3.2 to, "deliver improved business 

nrocesses • bv secure. innovative.. and reliable technolmnr solutions and data.» 

Detailed project This capital investment will provide dedicated computing resources to support the ONES 

description data quality and assurance team's current and anticipated quarterly data collection throuah 

the lame credit union data collection 

Protect name Central Office Maintenance and Repair 

Project SDOBSOT Office of the ChiefFinancial Officer 

CUstoment Internal: All NCUA headquarters building occupants 

beneficiaries External: All NCUA hea built:linf,t visitors 

Budget $ in thousands 2024 2025 2026 2027 2028 

Aoouisition $477 $480 $450 $450 $425 

Ooerations and Maintenance $0 $0 $0 $0 $0 

LinktoNCUA Strategic Goal 3: Maximize organizational perlhmmnce to enable mission success. 

strategic goals fuvestments in minor construction and maintenance projects will improve facility 

operations and building efficiency, safety. and functionality at the NCUA's Central 

Office building. The Central Office facility was built in 1993. The average life span of 

building components is between 20-25 years. Aged, outdated and failing building 

components and systems pose a threat to the performance of the NCUA mission. 

Collectively these mvestments will :maximize organizational performance and enable 

mission success. for example, by improving building accessibility fur NCUA 

employees and the public through installation of Americans with Disability Actcompliant entryways; conserving natural resources through installation of energy 

efficient devices and equipment; and protecting and maintain.mg the building's exterior 

and interior finishes. 

Detailed project In 2025, this capital investment will provide the funding necessaty for six planned 

description projects.. Several of these projects are multi-year in nature, requiring an incremental 

approach: building automation and system controls replacement; roof drain repair and 

replacement; and office and common area painting. Other projects include plumbing 

repairs, waterproofing within the Central Office garage, and a modest amount for 

unforeseen renairs that mav occur durirul the veer. 
87650 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Notices 

32See https://www.federalreserve.gov/ 

publications/2013-preserving-minority-depositoryinstitutions-section-308-firrea.htm. 

BILLING CODE 7535–01–C 

X. Appendix C: Glossary of Terms and 

Acronyms 

A 

Asset Management and Assistance 

Center (AMAC): The office at the NCUA 

responsible for conducting credit union 

liquidations and performing 

management and recovery of assets. 

Additionally, this office supports the 

NCUA’s regional offices’ review of large 

complex loan portfolios and actual or 

potential bond claims. 

Automated Cybersecurity Evaluation 

Toolbox (ACET): The NCUA’s ACET 

application provides credit unions the 

capability to conduct a maturity 

assessment aligned with the FFIEC’s 

Cybersecurity Assessment Tool. Using 

the assessment within the toolbox 

allows institutions of all sizes to easily 

determine and measure their own 

cybersecurity preparedness over time. 

Automated Integrated Regulatory 

Examination System (AIRES): AIRES is 

the NCUA’s legacy examination system, 

which was replaced by MERIT. 

C 

CAMELS: The NCUA’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. 

Central Liquidity Facility (CLF): The 

CLF is a mixed-ownership government 

corporation that serves as a source for 

emergency funding for consumer credit 

unions and corporate credit unions that 

join the facility. 

Credit Union Resources and 

Expansion (CURE): The NCUA’s Office 

of Credit Union Resources and 

Expansion supports credit union growth 

and development. CURE assists lowincome and minority credit unions, as 

well as all credit unions seeking 

assistance with chartering, charter 

conversions, bylaw amendments, fieldof-membership expansion requests and 

low-income designations. CURE also 

provides access to online training and 

resources and to grants and loans 

through the Community Development 

Revolving Loan Fund. 

E 

Office of Examination and Insurance 

(E&I): The office at the NCUA 

responsible for supervision programs, 

which ensure the safety and soundness 

of the credit union system and that 

manages risk to the Share Insurance 

Fund. 

F 

Federal Credit Union: A federal credit 

union is a member-owned and 

controlled, not-for-profit, cooperative 

financial institution chartered by the 

NCUA and formed to provide its 

members with affordable and safe 

financial services. 

Federal Information Security 

Modernization Act: A federal statute 

enacted in 2014 that enables the 

government to better respond to 

cyberattacks on departments and 

agencies. 

Federal Employees Retirement System 

(FERS): FERS is a defined-benefit 

retirement plan for civilian employees 

of the federal government. 

Field of Membership: A credit union’s 

field of membership defines who is 

eligible to join the credit union. 

Federally Insured, State-chartered 

Credit Union (FISCU): A FISCU is a 

member-owned and controlled, not-forprofit, cooperative financial institution 

chartered by the state in which it is 

located. FISCUs are insured by the 

NCUA and supervised jointly with the 

state supervisory authority that 

chartered them. 

I 

Information Security Examination 

(ISE): A risk-focused approach to 

examine credit unions’ information 

security focused on areas of material 

current or potential risk relevant to each 

credit union’s unique business model. 

M 

Modern Examination and Risk 

Identification Tool (MERIT) 

examination system: MERIT is the 

NCUA’s new web-based examination 

platform that replaced AIRES. 

Minority Deposit Institution (MDI): By 

law, MDI describes a federally insured 

credit union in which a majority of its 

current members, its board of directors, 

and the community it services, as 

designated in its charter, fall within any 

of the eligible minority groups described 

in Section 308 of the Financial 

Institutions Reform, Recovery and 

Enforcement Act of 1989.32

O 

Office of the Chief Informational 

Officer (OCIO): The office at the NCUA 

responsible for establishing the 

organization’s enterprise IT vision, 

security strategy, roadmap and related 

policies and management controls. 

Office of Consumer Financial 

Protection (OCFP): The office at the 

NCUA responsible for the consumer 

financial literacy efforts, the NCUA’s 

Consumer Assistance Center, consumer 

financial protection compliance policy 

and rulemaking, fair lending 

examinations, interagency coordination 

on consumer financial protection 

compliance matters, and the agency’s 

consumer-focused website 

MyCreditUnion.gov. 

Office of the Inspector General (OIG): 

The office at the NCUA responsible for 

promoting the economy, efficiency, and 

effectiveness of NCUA programs and 

operations, and detects and deters fraud, 

waste and abuse, thereby supporting the 

NCUA’s mission of monitoring and 

promoting safe and sound federally 

insured credit unions. OIG conducts 

independent audits, investigations, and 

other activities, and keeps the NCUA 

Board and U.S. Congress fully and 

currently informed of its work. 

Office of Management and Budget 

(OMB): An agency within the Executive 

Office of the President responsible for 

overseeing the performance of federal 

agencies and administering the federal 

budget. 

Office of National Examination and 

Supervision (ONES): The office at the 

NCUA responsible for overseeing the 

examination and supervision issues 

related to consumer credit unions with 

assets greater than $15 billion and all 

corporate credit unions. 

U.S. Office of Personnel Management 

(OPM): An agency responsible for 

human resources matters and personnel 

policy for the federal government. 

Overhead Transfer Rate (OTR): The 

share of the NCUA’s operating and 

capital budgets that comes from the 

Share Insurance Fund. The OTR 

represents the insurance-related costs 

that are paid for out of the Share 

Insurance Fund. 

[FR Doc. 2024–25568 Filed 11–1–24; 8:45 am] 

BILLING CODE 7535–01–P 

NATIONAL SCIENCE FOUNDATION 

Sunshine Act Meetings 

The National Science Board’s (NSB) 

Committee on Strategy hereby gives 

notice of the scheduling of a 

teleconference for the transaction of 

National Science Board business 

pursuant to the National Science 

Foundation Act and the Government in 

the Sunshine Act. 

TIME AND DATE: Thursday, November 7, 

2024, from 11:00 a.m.–12:00 p.m. 

Eastern. 

PLACE: This meeting will be held by 

teleconference through the National 

Science Foundation. 


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