ALEXANDRIA, Va.–Representatives of the Department of Government Efficiency (DOGE) were reportedly in NCUA’s offices on Thursday, several sources told the CU Daily.

DOGE, the initiative being led under the Trump administration by Elon Musk, has overseen the layoffs of tens of thousands of federal employees, some of whom have had their jobs restored by the courts. 

In response to a CU Daily inquiry regarding the DOGE meeting, NCUA declined to comment

NCUA was given a mid-March deadline to provide the Trump administration with its plans for laying off employees as part of the White House’s broader effort to reduce the federal workforce.

‘No Comment’

The agency has also declined to provide comment to The CU Daily on whether it has provided such a plan for workforce reductions. The NCUA board reportedly held a private session to deal with its response. The agency earlier declined to comment on the nature of that meeting, as well.

NCUA has approximately 1,200 employees across its three regions in the U.S. A workforce reduction of 20% would involve close to 250 people.

NCUA is funded by credit union operating fees and does not receive any federal funding for its budget. 

Defense Council Calls for Efforts to ‘Rein in Spending’

In conjunction with the meeting between DOGE and NCUA, the Defense CU Council sent a letter to Sarah Bang, NCUA’s liaison to DOGE, in which it said it strongly supports NCUA’s efforts to “rein in spending while preserving the safety and soundness of the credit union system—a balance that enables member credit unions to better serve military and veteran families across the country.

“As you evaluate opportunities for increased efficiency, we want to highlight that the NCUA is entirely funded by credit unions—not taxpayers, “ the letter states. “Credit unions also fund the National Credit Union Share Insurance Fund (NCUSIF) through the capital they invest. For that reason, we strongly support a return to the normal operating level of 1.30, so that credit unions may be rewarded with dividends for the capital they invest.”

The Defense Council is calling for what it called a “thorough review” of recent agency expenditures, “particularly the significant cost increases associated with the MERIT examination platform.”

DCUC also expressed what it said are its “concerns stemming from the corporate credit union crisis, during which the agency incurred over $1 billion in legal fees through reliance on outside counsel—including firms such as Kellogg Huber and Korein Tillery.”

Need for Greater Oversight

“These historical examples underscore the need for greater cost oversight and a reassessment of the long-term value of outsourcing critical regulatory functions,” DCUC President and CEO Anthony Hernandez said in a statement. “As stewards of member resources, credit unions deserve a transparent, cost-effective regulatory environment that reflects their commitment to service—not unnecessary financial burden.”