NCUA Assessments to Edge Up in 2013
A combination of growth in assets and a decrease in the overhead transfer rate means an 0.24% increase to the NCUA’s 2013 operating fee scale for federal credit unions with more than $1 million in assets, according to a Letter to Federal Credit Unions posted on the regulator’s website.
Additionally, the NCUA board in November eliminated operating fees for credit unions with assets of $1 million or less.
Federal credit unions with more than $1 million in assets can expect an invoice from the NCUA in March, with payment due by April 30. That invoice will include both the 2013 operating fee assessment and any additional amount required to bring a credit union’s NCUSIF capitalization deposit up to the required 1% of insured shares, the agency said.
The letter includes a chart the agency said clarifies the new asset tiers and corresponding assessment payment. The NCUA has also provided an online calculator to help credit unions determine their operating assessment.