The National Credit Union Administration (NCUA) held its first board meeting of 2026, hearing briefings on a proposed rule for Dependent Care and Board Member Expense Reimbursement and the Central Liquidity Facility (CLF) 2026-2027 budget.
The NCUA Board received a briefing on a proposed rule for Dependent Care and Board Member Expense Reimbursement from Keisha Brooks, Attorney-Advisor for the Office of General Counsel.
The briefing discussed how the proposed rule would amend the NCUA’s regulations to include dependent care costs as a reimbursable expense for federal credit union (FCU) officials. The proposed rule would enable FCU boards to establish policies that allow for the payment of reasonable dependent care costs incurred by volunteer officials while attending board meetings and performing their official credit union duties.
Previously, dependent care costs have not been considered to be reasonable expenses under the current NCUA regulation at 12 C.F.R. § 701.33. Childcare and eldercare costs have risen significantly over the past 30 years making volunteering on credit union boards difficult for many individuals. Accordingly, the Board is proposing to include dependent care costs as a reimbursable expense.
The proposed rule is designed to reduce barriers to volunteer service for individuals with dependent care responsibilities and help federal credit unions to adopt family-friendly policies.
The proposed rule would apply to all federal credit unions, including corporate FCUs. It would not apply to federally insured, state-chartered credit unions (FISCUs), which remain subject to state law.
Matt Biliouris, Central Liquidity Facility Acting President, and Qing Yan, Accountant, provided the NCUA Board with a briefing on the CLF 2026-2027 budget.
The briefing noted a 12% decrease in the 2026 budget compared to 2025; total assets of $1.01 billion; investment income of $30.4 million; and retained earnings of $48.2 million.
The NCUA Board was also briefed on further 2026 plans for CLF including industry and stakeholder outreach, pursuing new efficiencies and automation in CLF operations, and providing CLF advances.
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