The National Credit Union Administration (NCUA) Board held a meeting on April 9 to review newly published frequently asked questions about brokered and reciprocal deposits, as well as updates on its Deregulation Project, the agency’s Strategic Plan for 2026-2030, and the Annual Performance Plan for 2026.
These topics are significant because they impact how federally insured credit unions manage risk, regulatory compliance, and long-term planning. The NCUA functions as a U.S. government agency responsible for overseeing federally insured credit unions across the country, according to the official website.
During the meeting, Frank Kressman from the Office of General Counsel discussed new FAQs addressing insurance coverage and considerations related to brokered and reciprocal deposits. Chairman Kyle Hauptman said his purpose in issuing these FAQs was “to offer regulatory clarity for federally insured credit unions (FICUs), confirming that participation in brokered and reciprocal deposit networks is permitted.” Hauptman also said that while there are benefits to these types of deposits, “credit unions should weigh the pros and cons for their specific institutions” because “an overreliance on brokered and reciprocal deposits can increase a FICU’s risk profile and lead to higher rates and downgrades in CAMELS ratings.”
Amanda Parkhill briefed the Board on Phase 1 of NCUA’s Deregulation Project. Since launching in December 2025, NCUA has reviewed regulations considered obsolete or overly burdensome and issued 29 proposed rulemakings with more than 230 public comments received.
The Board also heard from Melissa Lowden and Jim Holm about the Strategic Plan covering three main goals through nine objectives aimed at enabling access to financial services by supporting safe credit unions. An agency reorganization tied to this plan is scheduled by December 31, 2027. The Annual Performance Plan outlines measurable outcomes through twenty-three performance indicators aligned with these goals. Hauptman said that this plan “provides specific and measurable outcomes to guide our progress and performance throughout the remainder of 2026.”
The NCUA was established by Congress to regulate federal credit unions with oversight including chartering new institutions; it insures over 145 million accounts via its Share Insurance Fund backed by U.S. government support according to its official website. It provides tools such as a Share Insurance Estimator for depositors seeking coverage details.
Kyle Hauptman currently serves as chairman of the NCUA Board according to information available from its official website.
