Comments Due to NAFCU: NCUA - Fees Paid by Credit Unions
NAFCU would like to highlight the following:
- For purposes of calculating the annual operating fee owed, federal credit unions (FCUs) may exclude any Small Business Administration (SBA) Paycheck Protection Program (PPP) loan, or similar future program as the NCUA Board approves, from total assets.
- Under the proposal, total assets will be based on the four most recently reported quarters instead of using December 31st Call Report data from the preceding year. The proposal provides calculations for merged or converted FCUs.
- Technical amendments clarify that no refund of operating fees is available for FCUs that convert to any other type of charter, regardless of timing.
Comments due to NAFCU: October 29, 2020
Comments due to NCUA: October 30, 2020
NAFCU will send comments on behalf of its members to the NCUA by their deadline (TBD).