CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • 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
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact

News

Home » OTR, operating fee proposal will maintain fair assessments
Policy & Issues

OTR, operating fee proposal will maintain fair assessments

October 30, 2020

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: Spring 2022

Spring 2022

Credit Union Magazine’s Spring 2022 edition profiles four Credit Union Heroes and examines CUNA's advocacy priorities, the advocacy army, and financial well-being for all.
Digital Edition •  Subscribe

Trending

  • House passes CUNA-backed fair hiring bill

  • FOM modernization bill passes House Financial Services Committee

  • House committee to mark up field of membership modernization bill

Tweets by CUNA_News

Polls

Are you ready for CECL?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and 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

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2022 Credit Union National Association | ADA Compliance Notice & Legal
Email Us