Bad News: Bill In Mail Good News: Rate Lower
The National Credit Union Administration (NCUA) will be sending out invoices in March to federal credit unions for 2004 operating fees. The fees are to be paid by April 16.
The invoices will be a mix of news for FCUs. Many will have to adjust their National CU Share Insurance Fund capitalization deposit to 1% of insured shares as of Dec. 31, as member deposits have increased. But as reported in The Credit Union Journal, the 2004 assessment rate has decreased by 6.81% from the 2003 rate as the result of credit union asset growth during 2003. In addition, amounts for total assets within rate bracket categories (asset dividing points) have been increased by 10%. The same operating fee scale from last year will remain in effect for corporate credit unions.