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CUNA Argues to Increase NCUA’s Operating Fee Exemption

The NCUA proposed changing the operating fee methodology threshold it uses for FCUs from $1 million to $2 million.

NCUA headquarters, Washington, D.C. (Source: NCUA). NCUA headquarters, Washington, D.C. Credit/The NCUA

Since 2012, the NCUA’s operating fee exemption threshold has been $1 million or less for federal credit unions. To account for the system’s growth, the agency is proposing to increase the exemption threshold to $2 million. The NCUA is currently gathering information from credit union industry leaders after it issued a request for comment on the operating fee schedule methodology.

In a letter to the NCUA Tuesday, CUNA officials argued an exemption threshold of $5 million “is more appropriate.” While CUNA said it agrees with the NCUA that the threshold should be increased, it’s just not enough.

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Michael Ogden

Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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