NASCUS Summary: Proposed NCUA Strategic Plan, 2010-2016

To view additional summaries of NCUA documents, click here.

Prepared by the NASCUS Regulatory Affairs Department

NCUA has issued for comments its strategic plan for the years 2011-2016. Here is the link to the proposed plan: http://www.ncua.gov/Resources/Reports/plans-and-reports/2010/DraftStrategicPlan2011-2016.pdf.

Comments are due to the agency by May 17, 2010.

NCUA identifies the goals of the strategic plan as:

  • To ensure a safe, sound and healthy credit union system.
  • To promote credit union access to all eligible persons.
  • To further develop a regulatory environment that is transparent and effective.
  • To issue clearly articulated and easily understood regulations.
  • To cultivate an environment that fosters a diverse, well trained and motivated staff.

The document identifies NCUA’s mission as “Provide, through regulation and supervision, a safe and sound credit union system which promotes confidence in the national system of cooperative credit.” NCUA  lists several definitions of mission success as follows:

  • Upholding confidence in the United States financial systems by communicating credit union status and stability;
  • Ensuring Liquidity in the credit union system;
  • Ensuring credit union members have access to their funds and services;
  • Educating consumers about the NCUSIF and the NCUA’s role to help them;
  • Facilitating consumer protection, education, access, and safeguards;
  • Promoting financial literacy about thrift and the use of credit for provident purposes; and,
  • Maintaining a regulatory environment that safeguards member interest and the stability of the credit union system.

The strategic plan also includes an overview of NCUA’s Strategic Management Process, the NCUA’s strategic initiatives and measures, an explanation of factors affecting goal achievement, an overview of the means and resources needed to achieve the goals and program evaluations.

The agency will accept public comments on its strategic plan until May 17.