United States National Credit Union Administration briefs board on voluntary separation program and reports Share Insurance Fund net income of USD 79.8 million in the first quarter

At its third open meeting of 2025, the National Credit Union Administration (NCUA) Board received briefings on the agency’s Voluntary Separation Program (VSP), launched to support compliance with Executive Order 14210, and on first-quarter 2025 performance of the National Credit Union Share Insurance Fund. The VSP comprises the NCUA Deferred Resignation Program (NDRP) and a Voluntary Separation Incentive Payment (VSIP) for retirement-eligible employees. The agency expects approximately 250 employees to depart; 152 employees have been placed on paid administrative leave under the NDRP until they separate no later than December 31, 2025, with remaining NDRP participants scheduled to begin administrative leave in the coming weeks and months. The VSIP provides a USD 50,000 separation incentive to employees who are, or will become, regular retirement eligible and who separate by December 31, 2025, and the agency’s changes under Executive Order 14210 are expected to generate approximately USD 75 million in gross savings starting in 2026. For the Share Insurance Fund, net income was USD 79.8 million, up USD 1.2 million from the fourth quarter of 2024, while assets rose 3.14% in the first quarter to USD 23.0 billion from USD 22.3 billion at end-2024; the equity ratio remained 1.30% as of end-2024. The NCUA also reported no credit union failures in the first quarter and noted declines in the number of credit unions rated CAMELS 3 (to 679 from 715) and CAMELS 4 and 5 (to 129 from 135), with CAMELS 4 and 5 assets increasing to USD 20.3 billion from USD 18.5 billion; first-quarter figures were described as preliminary and unaudited.