CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » OTR, operating fee proposal will maintain fair assessments
Policy & Issues

OTR, operating fee proposal will maintain fair assessments

October 30, 2020
NCUALogo

CUNA’s goal is to ensure a fair distribution of the charges for the supervision of credit unions, consistent with the Federal Credit Union Act, for all credit union regardless of charter type. CUNA submitted these comments to NCUA Friday in response to the agency’s request for comment on the Overhead Transfer Rate (OTR) and Operating Fee schedule methodology.

The proposal would clarify that for the purpose of calculating the operating fee, the budget for capital projects would be included within the total annual budget subject to the OTR.

“CUNA has consistently opposed any overhead transfer of agency expenses to the National Credit Union Share Insurance Fund (NCUSIF) that is not for legitimate, substantiated “insurance-related” costs, consistent with fairness to state and federal credit unions and the Federal Credit Union Act,” the letter reads. “We believe the proposed changes represent an approach that will maintain fair and consistent assessments.”

CUNA also encouraged NCUA to increase the operating fee exemption for credit unions below $10 million in assets.

The letter also contains comments on NCUA’s voluntary Diversity Self-Assessment, designed to help credit unions assess existing diversity and inclusion policies and practices.

“We appreciate the agency’s efforts to encourage participation in the assessment, including through a possible discount to the operating fee for FCUs. We believe such an approach may yield greater results in terms of credit union participation in the assessment,” the letter reads. However, if the NCUA pursues a discount, in keeping with the theme of equality and fairness, it is imperative that a corresponding discount be available for federally insured state-chartered credit unions that participate in the assessment.”

CUNA also noted to NCUA that it believes it is important the assessment remain voluntary for credit unions.

 

 

 

Credit Union Magazine - Winter 2020

Winter 2020

Credit Union Magazine’s Winter 2020 edition features CUNA’s 2021 lending outlook, CEO insights on adjusting to the pandemic, and board recruitment strategies.
Digital Edition •  Subscribe

Trending

  • Harper: SIF premium not ‘if’ but ‘when and how much’

  • NCUA’s SAR proposal should be adopted ‘as soon as reasonably practical’

  • Advice for a new CEO

Tweets by CUNA_News

Polls

Who should be the 2021 Credit Union Hero of the Year?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors