ALEXANDRIA, Va. (1/21/14)--The 2014 natural person federal credit union operating fee rate reduction of 18.4%, and 5.1% increase in the asset dividing point for the 2014 operating fee scale, are detailed in a new National Credit Union Administration letter to federal credit unions (14-FCU-01).
Invoices for these fees will be sent out by the agency in March. Federal credit unions with assets less than $1 million will not be assessed an operating fee for 2014.
The operating fees for federal credit unions were assessed based on assets as of December 31, 2013. Included with the letter is an NCUA chart intended to help a federal credit union calculate the exact dollar amount of its operating fee. The chart also includes the NCUA web link to the online calculator. The letter also provides insight into the calculation method.
The NCUA will combine the operating fee and National Credit Union Share Insurance Fund capitalization deposit of 1% of insured shares into a single payment. Payment is due to NCUA no later than April 15.
The agency adds that for federal credit unions signed up to pay via Pay.Gov, no further action is required; payment will occur by April 15.
All others must send payment according to the instructions included with the invoice.
Questions regarding details for the letter should be directed to the NCUA's Office of the Chief Financial Officer at email@example.com.