California Regulator Slashes CU Operating Fees

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The Department of Financial Institutions announced it is reducing operating fees on state chartered credit unions 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 slashes the rates last year by 15%. The rate charged banks will remain the same this year, $1.36 per $1,000 of assets.

Invoices were mailed to about 175 state chartered credit unions on June 30 and are due by July 20.

Ed Roberts can be reached at robertscuj cujournal.com

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