The NCUA today announced its plans for winding down US Centralby yearend in a memo to U.S. Central users signed by Scott Huntacting as conservator.

The memo detailed looming fee hikes and made clear that NCUA“will be monitoring your corporate’s efforts to transition awayfrom the [U.S. Central] APEX platform. Specifically, OCCU [NCUA’sOffice of Corporate Credit Unions] is requiring that each U.S.Central Bridge member corporate develop a plan and timeline toexecute the transition U.S. Central Bridge. This plan must becompleted and submitted to the OCCU by February 24, 2012.”

The memo added, “NCUA will keep ACH operations and pricingstatus quo through June 30, 2012. Beginning July 1, 2012, pricingfor ACH processing will be increased 80% to minimize costs at thebridge and to incent the timely transition away from APEX.Ultimately, it is NCUA’s intent to cease ACH processing at U.S.Central Bridge by no later than December 31, 2012.”