NCUA Continues To Cut Costs

NCUA announced Wednesday it is relocating its west coast Region VI office in Concord, Calif., a suburb of San Francisco, to Phoenix, under recommendations made by the agency's Accountability in Management (AIM) task force.

The relocation of the high-cost San Francisco office was one of several moves being undertaken, including the closure of the midwest Region IV office in suburban Chicago that is projected to save the federal regulatory agency as much as $27 million over the next 10 years.

The relocation of Region VI will begin immediately and be completed as early as the end of the year. Phoenix was one of nine lower cost cities studied for the regional office.

The agency restructuring will result in new designations for the surviving five regional offices, so the office in Albany, N.Y., will remain as Region I; Alexandria, Va., in NCUA headquarters, will retain Region II; Atlanta will continue to house Region III; and the Austin, Texas, office will now be known as Region IV, with Phoenix as Region V.

Personnel is also being reduced.