ALEXANDRIA, Va. — NCUA recently issued Letter to Federal Credit Unions 07-FCU-01, which gave federal credit unions a heads up on the operating fee schedule.
Invoices will begin arriving at federal credit unions in March as well as the amount required to adjust their NCUSIF deposit based on 1% of insured shares as reported year-end 2006. A combined payment will be due no later than Monday, April 16, 2007.
Allowances are still being made for deposit influxes at federal credit unions impacted by Hurricanes Katrina and Rita. "The asset base for the operating fee will reflect any necessary adjustments for hurricane-related funds in member accounts," NCUA wrote to these institutions. "These credit unions will be contacted separately and receive a letter on the application process."
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Changes were made to the operating fee scale for natural person federal credit unions (See chart). The 2007 assessment rate has decreased by 1.54% from the 2006 rate, which was mainly due to federal credit union asset growth for 2006 and lower than anticipated agency operating expenses. Also, amounts for total assets within rate bracket categories (asset dividing points) were increased by 3.25%, based on projected asset growth.
The operating fee scale for corporate federal credit unions remained the same as the prior year.
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