NCUA confirms 2012 operating fee to drop 0.9%
The agency in its Letter to Credit Unions No. 12-FCU-01 said the growth of federal credit union assets and the slight overhead transfer rate increase led to the operating fee reduction. The NCUA adjusts these amounts each year by the same percentage as the projected federal credit union asset growth in order to maintain the same relationship of the scale to the asset base.
The NCUA will charge fees of $0 for assets up to $500,000 and $100 for assets from $500,001 to $750,000. Operating fees will be charged on a sliding scale for credit unions with assets greater than $750,000. The NCUA is offering an operating fee calculator on its homepage.
Invoices for the 2012 operating fees will be sent to credit unions in March. The invoices will also include information on the amount, if any, that a credit union must pay to adjust its National Credit Union Share Insurance Fund (NCUSIF) capitalization deposit to 1% of insured shares, the agency added.
A single payment covering operating fees and capitalization deposit adjustments will be due to the agency by April 16.
For the full NCUA release, click here. For the NCUA Operating Fee Calculator, click here.