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NCUA announces adjustment to operating fee schedule for 2021
The NCUA yesterday issued a Letter to Credit Unions regarding adjustments to the 2021 operating fee schedule and announcing a 19.6 decrease in the operating fee for federal credit unions. The 2021 operating fee takes into account the recent changes in methodology used and basis for calculating total assets based on the four most recent quarters; fees are due by April 15, 2021.
The NCUA Board in December approved changes to its regulation and associated methodologies for computing the annual operating fee that clarifies how capital project budgets and miscellaneous revenues are calculated and modifies the approach for calculating the operating thresholds for operating fee rate tiers.
NAFCU is generally supportive of the board’s changes but had previously suggested an ongoing evaluation of the overhead transfer rate methodology. The association previously offered its support for providing FCUs greater certainty on operating fees owed, but also reiterated its call for prudent budget management.
Read the full Letter to Credit Unions for more information.