Agency to consolidate regions; Albany, Atlanta offices to close

July 21, 2017 -- NCUA will close offices in Albany, N.Y. and Atlanta through a consolidation of its regions from five to three, the agency announced this morning in a press release about restructuring the agency.

Additionally, NCUA said that it would eliminate four of the agency’s five leased facilities, and that it plans to eliminate agency offices with overlapping functions and improve functions such as examination reporting, records management, and procurement. NCUA anticipates that a reduction in the agency’s workforce will occur by attrition.

Other areas affected by the restructuring include: Creating an “Office of Credit Union Resources and Expansion” by redefining and realigning chartering and field-of-membership, credit union development, grants and loans, and minority depository institutions programs; restructuring the Office of Examination and Insurance into specialized working groups; and realigning the Asset Management and Assistance Center to include changes to the servicing business model and moving to a financial supervisory structure.

“The time has come for the NCUA business model to change,” Board Chairman J. Mark McWatters said in a statement. “Positioning the NCUA to meet the changing demands of the credit union system we regulate in a transparent and fully accountable manner while promoting efficiency and effectiveness is essential.”

NCUA Release: NCUA Plans Restructuring to Improve Efficiency, Meet Future Challenges