NCUA Board Approves Annual Performance Plan

ALEXANDRIA, Va. – The National Credit Union Administration (NCUA) Board held its first open meeting of 2019 at the agency’s headquarters today and unanimously approved two items.

These items include:

  • The agency’s 2019 Annual Performance Plan, which outlines the strategies and indicators the NCUA will use to improve performance and set priorities for achieving the agency’s mission and strategic goals described in the 2018-2022 Strategic Plan.
  • A request from the Illinois Department of Financial and Professional Regulation to revise its member business lending rule to provide parity with NCUA’s rule.

The Office of the General Counsel briefed the Board on inflation adjustments required by federal law to civil monetary penalties.

The Office of Public and Congressional Affairs briefed the Board on the agency’s website redesign.

Annual Performance Plan Sets 2019 Agency Priority Goals
The Board approved the NCUA’s 2019 Annual Performance Plan, which provides specific direction and guidance to implement the overarching goals listed in the 2018-2022 Strategic Plan.

The performance plan describes how the agency will reach its strategic goals and monitor progress. The plan identifies three Agency Priority Goals:

  • Fully and efficiently execute the requirements of the agency’s examination and supervision program;
  • Promulgate efficient, targeted regulation tailored to offer meaningful relief without undermining safety and soundness; and
  • Implement secure, reliable, and innovative technology solutions.

The NCUA developed the 2019 performance plan simultaneously with the 2019-2020 operating budget. Offices justified how new and recurring projects, as well as additional staffing requests, contribute to achieving the NCUA’s strategic goals and objectives and identified specific performance indicators demonstrating the results of budgetary investments. This performance plan, in combination with the 2019-2020 operating budget, executes the agency’s Strategic Plan.

Illinois Member Business Lending Rule Updates Approved
The NCUA Board approved a request from the Illinois Department of Financial and Professional Regulation to revise its member business lending rule to provide parity with changes in the NCUA’s own rule approved in May 2018.

Those changes removed the member’s occupancy requirement for loans secured by liens on 1-to-4-unit family dwellings. The NCUA Board approved the change to make the member business lending rule conform with changes to the Federal Credit Union Act incorporated into the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018.

Under NCUA’s member business lending rule, states that wish to have their own versions of that rule must receive Board approval.

NCUA.gov Redesign Improves Access, Offers New Features
The NCUA recently completed a redesign of its Web site, NCUA.gov, to give users better accessibility, an improved search tool, and new features to find information more quickly and easily.

The redesign focused on technical improvements to NCUA.gov and changes to the site’s organization, search function, and content. The website is now accessible from smartphones, tablets, and both laptop and desktop computers and has new menus to help users with navigation.

Improving online access is a continuing effort, and users can send comments and suggestions for other possible changes by emailing pacawebeditor@ncua.gov.

Final Rule Confirms Required Inflation Adjustments to Civil Monetary Penalties
The Board approved a final rule to amend its regulations and adjust for inflation the maximum amount for civil monetary penalties under its jurisdiction, as required by federal law.

The Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 requires agencies to make annual adjustments and publish them in the Federal Register. The Act requires agencies to adjust the maximum amounts of civil monetary penalties annually to account for inflation.

To make the adjustments required by law, the Board approved the final rule by notation vote on Jan. 4, 2019. The final rule will become effective upon publication in the Federal Register.

The NCUA tweets all open Board meetings live. Follow @TheNCUA on Twitter, and access Board Action Memorandums and NCUA rule changes at www.ncua.gov. The NCUA also live streams, archives and posts videos of open Board meetings online.