<p>ALEXANDRIA, Va.-NCUA released the new operating fee schedule for 2002 in its first Letter to Federal Credit Unions of the year (02-FCU-01). The rate increased by 4.36% over the 2001 rate. This increase was mainly due to pay comparability requirements, the biannual regional training conferences, and the drop in the overhead transfer rate. After the 2001 20% cut in the operating fee due to the inflated overhead transfer rate of 66.72%, the 2002 increase still accounts for a 16% drop from the 2000 fee. The operating fee and capitalization deposit adjustment payments are due April 15. Corporate credit union operating fees will remain unchanged. The letter is available at NCUA's Web site (www.ncua.gov) and includes a chart of the operating fee schedule by assets.</p>

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.