The Check's In The Mail FromNCUA

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ALEXANDRIA, Va. - (11/19/04) -- As part of its annual budgetdeliberations, NCUA said Thursday it overcharged federallychartered credit unions by $9 million in operating fees this yearand will be sending refund checks by that amount to all federalcredit unions next month. The unprecedented refund amounts to 15%of annual operating fees paid by federal credit unions and will berepaid on a pro-rate basis. So, a credit union of $5 million willreceive a $160 check; a $100 million credit union will get $3,200;and a $1 billion credit union $25,000.

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