|Will just have to wait a bit...|
First, NCUA provides a wealth of background information on the budget at www.ncua.gov [here's the link] Generally, to have an informed discussion requires folks to do a little homework; sounds reasonable doesn't it? But these days being informed and thoughtful, as our current national election perhaps best demonstrates, no longer seems to be a requirement for dialogue.
So let's take this slowly, in pieces. Chairman Metsger sets the stage for the discussion in his "Opening Statement". Again hope you will stop and use the link above to read it, it's just one page. In the "Statement" two phrases stood out to me; what I'd like to call for NCUA the "Promise of the Future Statement" and the "Problem with the Past Statement" - and by association the future promise and current problem at NCUA for credit unions and all credit union members...
Promise of the Future Statement
"In summary, we are providing more information earlier in the process and giving people multiple ways to provide input. We are both setting and raising the bar for public transparency by a federal agency."
Problem with the Past Statement
"While we are being both transparent and open today, I also want to reiterate an important comment I made when I announced we would hold this briefing: We will listen to the recommendations of stakeholders, but the Board, and Board alone, will determine and set the agency budget, in accordance with federal law and the need to protect the safety and soundness of the National Share Insurance Fund. This is not a referendum. We have a fiduciary responsibility to the Share Insurance Fund, and to the U. S. taxpayers and we will not abrogate that responsibility or turn it over to anyone else."
[You should note well here that the use of bolding and underlining in the above statement was all done by Mr. Metsger.]
For our first round of the budget review process, simply have a glass of wine (after work!) and contemplate those two statements - what they say about the NCUA and what they might mean for the future of credit unions.
After all, a "budget" is the end of a thought process not the beginning! We are going to have to wade back up stream to consider law, mission, strategy, tactics, structure - and the future - i.e. "do a little homework", if we are going to have "an informed and thoughtful discussion" about the future of the NCUA...
Welcome your thoughts and comments!