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AUSTIN, Texas — The Texas Credit Union League reaped the benefits of a well-prepared dues increase proposal at its 2007 Annual Membership Meeting April 12. Delegates approved the new dues structure unanimously, without discussion, surprising league officials.

The new formula, which differs significantly from the 2007 formula, is based entirely on assets using the square root of assets plus a factor of .52, and includes a minimum dues assessment of $500 or 6% of gross income, whichever is less. As a credit union grows, so will the size of its dues. Likewise, if a credit union experiences a down year in assets, the formula adjusts dues downward.

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