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Following the NCUA's release last week of its proposed 2021 and 2022 budgets, NAFCU has updated its online calculator to help member credit unions calculate and compare the respective dollar amounts for annual operating fees.

Access NAFCU's Operating Fee Calculator (member-only).

The estimated overhead transfer rate (OTR) – which is a transfer from the National Credit Union Share Insurance Fund (NCUSIF) to cover insurance-related expenses paid by both federal credit unions and federally insured, state-chartered credit unions – for 2021 is 62.3 percent. Federal credit unions are expected to fund 69 percent of the NCUA's 2021 operating budget, and federally-insured, state-chartered credit unions will fund an estimated 31 percent.

The NCUA is currently considering a proposal to clarify how the OTR is applied to apportion operating fees charged to federal credit unions. NAFCU recently sent feedback to the agency on its proposal, offering recommendations to improve the operating fee schedule and methodology and ensure the NCUA budget is prudently managed.