ALEXANDRIA, Va.-NCUA issued a Letter to Federal Credit Unions last week, alerting the institutions to upcoming debts to be paid. The letter (04-FCU-01) notified federal credit unions that the invoices for the 2004 operating fee and adjustment to the 1% deposit in the National Credit Union Share Insurance Fund would be arriving in March and are due April 16. The operating fee scale has changed in a downward direction for natural person federal credit unions, according to the letter. The 2004 rate is down 6.81% from last year's rate, primarily due to federal credit union asset growth in 2003. Additionally, the asset amounts within rate bracket categories have been increased by 10%. These are adjusted each year according to the asset base. Corporate credit unions have the same operating fee scale as last year.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.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.