Friday, December 7, 2012

Travel Expenses for NCUA Board Members

Bravo to Credit Union Journal for examining the travel-related expenses of the NCUA Board members.

According to data obtained from a Freedom of Information Act request, Credit Union Journal found that in the four years up to August of 2012, Board member Fryzel spent $109,182.99 on travel; Chairman Matz, $81,523.12; and Board member Hyland, $71,551.35.

During 2011 and 2012, Fryzel spent $67,845.58, Matz $50,302.22, and Hyland $27,196.43.

The story points out that Fryzel lives in Chicago and flies to NCUA Board meetings, while Matz lives in the Washington, D.C. area, as did Hyland during her board tenure.

For example, Credit Union Journal compared the lodging expenses for the three NCUA Board members attending CUNA's Government Affairs Conferences in Washington, D.C. for 2011 and 2012. In 2011, Fryzel spent $1,657.95 for three night's lodging. Matz spent $1,116.39 for three nights. Hyland spent $647.13 for two nights. In 2012, Fryzel spent $2,720.54 for four night's lodging, Matz spent $1,022.40 for three nights, and Hyland $373.27 for one night.

What is noticeable is the discrepancy between Fryzel and the other two board members nightly lodging expense.

The article also points out that any expenses within a NCUA staff's official duty station are not permissible unless granted a waiver. Matz justified the waiver by telling Credit Union Journal that "I was speaking at the GAC and attending several meetings early in the morning and in the evening during the week, and due to heavy and often unpredictable D.C. morning traffic, and the fact it was important that I make the meetings on time, I stayed in a hotel."

While I agree that the D.C. morning commute can be very difficult, I still don't think that this explanation is sufficient justification for either Matz or Hyland to incur any lodging expenses for attending CUNA's Government Affairs Conferences.

Read the story (paid subscription).


  1. Where is the NCUA OIG? The NCUA has a FRAUD hotline to report FRAUD at credit unions. Does the NCUA have a FRAUD hotline to report fraud at the NCUA?

  2. Not only are these Presidential appointments highly compensated it appears they are well fed too. Just like pigs eating at the trough. Fed and compensated off the backs of credit unions' and their members. It's about time we feed the needy and not the greedy.

  3. Haven't seen fry zeal in a while.
    What does fryzel weigh?
    A fellow CEO tells me fryzel lives in Chicago and commutes to NCUA board meetings?
    So, how is it that he goes to a credit union conference in Chicago and pays $700 per night for a hotel and $300 per day for food?



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