Jan. 30, 2013 – Federal credit unions that had more than $1 million in assets last Dec. 31 can expect to receive invoices for their 2013 operating fees in March, NCUA says in Letter to Federal Credit Unions 13-FCU-01.
Federal credit unions with assets of no more than $1 million as of last Dec. 31 will pay no operating fee in 2013, the letter says. For those that will pay, this year’s fee rate is going up slightly, 0.24 percent, from last year’s rate. Asset ranges used in fee calculations are also adjusted up 6.5 percent.
The operating fee and the adjustment to the credit union’s 1 percent capitalization deposit in the National Credit Union Share Insurance Fund will be on the same invoice; a single payment is to be made. Credit unions that are signed up on Pay.gov don’t have to take any action. Those not signed up will be required to send their payments as instructed in the invoice.
Letter 13-FCU-01 breaks down the formula for the operating fee and a link to an online fee calculator. Background on the overhead transfer rate is also provided. (NAFCU also has an operating fee calculator online.)