Operating fees from federally chartered credit unions (FCUs) are due April 17, the federal credit union regulator said Wednesday, and will be based on year-end 2017 asset sizes.
Additionally, the agency said in its Letter to Federal Credit Unions 18-FCU-01 (Operating Fee Scale Adjusted for 2018), adjustments to capitalization deposits are due the same day for the National Credit Union Share Insurance Fund (NCUSIF) from all federally insured credit unions.
The NCUSIF deposit adjustments and operating fees will be based on invoices to be sent to credit unions in March.
In the letter, NCUA points out that the decrease in the “overhead transfer rate” (the rate at which NCUA transfers funds from the NCUSIF to the operating budget of the agency to cover “insurance-related expenses”) was one of two factors affecting the operating fees FCUs will be charged. The other is the growth of FCU assets, the agency said.
“For 2018, the Overhead Transfer Rate decreased from 67.7% to 61.5%, which raised the Operating Fee,” the letter states. “Generally, if the Overhead Transfer Rate increases, the Operating Fee collected from federal credit unions decreases. Conversely, if the Overhead Transfer Rate decreases, the Operating Fee collected from federal credit unions increases.”
Federal credit unions with less than $1 million in assets are exempt from paying the operating fee, the letter adds.