During the National Credit Union Administration's (NCUA) monthly board meeting this week, the board approved the agency's 2022 – 2026 Strategic Plan, which provides strategic goals and objectives for the next five years.

The plan summarizes an analysis of the internal and external environment impacting NCUA and evaluates programs and risks. The three strategic goals for 2022 to 2026 are to:

• Ensure a safe, sound, and viable system of cooperative credit that protects consumers.
• Improve the financial well-being of individuals and communities through access to affordable and equitable financial products and services.
• Maximize organizational performance to enable mission success.
  
  

The approved plan included several — albeit relatively minor — changes from the draft plan. This includes revisions to the narrative describing the long-term risk posed by climate-related financial risk, including the clarification that the agency does not intend to micromanage credit union lending decisions for climate-related financial risk, and that that nothing in this Plan should be construed as discouraging activities related to agriculture or fossil fuels.

NCUA’s 2022 Annual Performance Plan
The board approved the NCUA’s 2022 Annual Performance Plan, which provides specific direction and guidance toward achieving the mission and the strategic goals and objectives outlined in the Strategic Plan.

The Performance Plan strives to provide all interested stakeholders with transparency and understanding of the NCUA’s performance objectives. The Performance Plan sets out performance indicators and associated targets in support of the goals outlined in the agency’s Strategic Plan and draws a clear line from the agency’s mission to the strategic goals, strategic objectives, performance goals, and performance indicators and targets.

The Performance Plan also describes the means, strategies, and specific actions the agency has resourced and intends to undertake to achieve each strategic objective.

Board Briefing: Corporate System Resolution Update
The board was briefed on the latest regarding the Corporate System Resolution.

The briefing provided a comprehensive overview of the resolution effort, including the expectation that going forward (in March and September annually) the program will continue to make distributions — as cash becomes available — until the program is completed.

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