News stories tagged OTR

NCUA proposes another increase in OTR to partially fund 2022 operations

(Nov. 19, 2021) A $345.3 million 2022 proposed budget, funded partially from an increased amount of funds transferred from the federal credit union savings insurance program, was posted this week...

7 new positions approved for NCUA after budget review

(Sept. 24, 2021) In other action Thursday, the NCUA Board: Approved “midsession budget review” action that will use a $15 million 2021 budget surplus (realized through savings on curtailed travel...

Changes for OTR, new sub debt rules cited as achievements by retiring leader

NASCUS’ Lucy Ito discusses achievements and NASCUS, and the outlook for credit unions, during her interview with Mike Lawson, CUBroadcast.com (click on the arrow to view the complete video) (June 4,...

OTR 2021 increase a sign for agency to reconsider expense allocation, Ito says

(Dec. 23, 2020) A 2021 budget of $341.4 million – with an overhead transfer rate (OTR) of 62.3% — was approved by the NCUA Board on a split vote of...

Board set to decide 2021 budget/OTR today

(Dec. 18, 2020) With a rare second monthly meeting scheduled for today (Friday, Dec. 18), the full-complement NCUA Board will consider the 2021 budget for the agency, which includes an...

Two key recommendations made in NCUA budget hearing

Dec. 4, 2020) NCUA should reconsider how it allocates expenses to the federal insurance fund for credit unions to pay for agency operations, in order to safeguard balance, equity –...

Ito: Vigilance correct, but use of resources vital

(Nov. 20, 2020) NASCUS President and CEO Lucy Ito shared the board members’ call for vigilance, but also urged the agency to husband its resources, as NASCUS did in a...

BRIEFLY: Agencies jointly release BSA ‘fact sheet;’ NASCUS Report early next week

(Nov. 20, 2020) NCUA joined the federal banking agencies Thursday in releasing a fact sheet meant to clarify Bank Secrecy Act due diligence requirements for credit unions and banks that...

Higher OTR limits insurance fund, NASCUS writes in comment letter

(Nov. 6, 2020) Increases in the overhead transfer rate (OTR – the rate at which dollars transferred from the National Credit Union Share Insurance Fund (NCUSIF) to fund insurance-related costs...