NCUA Vice Chairman Kyle S. Hauptman Statement on NCUA’s 2024 Annual Performance Plan

As Prepared for Delivery on January 18, 2024

I’d like to congratulate everyone who worked on the 2024 Annual Performance Plan.

This document sets the NCUA’s 2024 priorities supporting the agency’s mission to protect the system of cooperative credit and its member-owners. It also supports the agency’s vision to strengthen communities and protect consumers by ensuring financial inclusion. These are impressive ideals, but no less so than the ideals of the credit union movement itself. These ideals are pursued through the agency’s over-arching goals to:

• Ensure a safe, sound, and viable system.
• Improve the financial well-being of individuals and communities.
• Maximize the NCUA’s organizational performance.

Overall, I am pleased to see the 2024 Plan continues to put greater focus on output and outcome-oriented results. I am grateful for the inclusion of performance indicator 1.2.2 regarding the post examination survey. Safety and soundness is improved by open and transparent communication with credit unions.

By further anonymizing the post exam survey responses in 2023, the NCUA continued to normalize the use of the post exam survey. The hope was simply to improve the survey response rate, but performance indicator 1.2.2 takes it a step further. It sets the standard for outcomes of 90 percent or greater on collaboration, narrative, and timely delivery of the exam report. What gets measured gets done.

I continue to urge federal credit unions to record their exit meetings and joint exam conferences. The recordings are beneficial for the credit unions and the agency as they provide a resource for new examiners, credit union staff, and boards. By not having to determine what was said, examiners and credit unions can save time and focus on moving forward.