California DFI Slashes Operating Fees

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The Department of Financial Institutions is reducing operating fees on state-chartered CUs by a significant amount for the second straight year, to the lowest rate in the past decade. This year's rate will be 44.7 cents per $1,000 of assets, down 18% from last year. The DFI slashed the rates last year by 15%. The rate charged banks will remain the same this year, $1.36 per $1,000 of assets. (c) 2006 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.

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