FCU operating fees due April 15
Jan. 21, 2014 – Federal credit unions will receive invoices from NCUA for their 2014 operating fees in March, with fees due April 15, the agency said in a Letter to Federal Credit Unions Friday.
Federal credit unions with $1 million or less in total assets will not be assessed an operating fee this year.
The 2014 fee scale is reduced 18.4 percent from last year’s. Each federal credit union’s operating fee will be calculated based on the institutions total assets as of Dec. 31, 2013. Invoices for the fees will also include any notice of adjustments needed the 1 percent deposit in the National Credit Union Share Insurance Fund based on their total insured shares last year-end. The payments will be taken automatically for credit unions that are set up to pay via Pay.gov.
NCUA will be funding 29.4 percent of its $268.29 million budget with the operating fees. Another 69.2 percent will be funded through the overhead transfer rate (the portion funded through the NCUSIF), and the rest from interest, corporate credit unions’ fees and miscellaneous sources.
NCUA Letter 14-FCU-01