BECU's petition reflects FISCCUs' frustration with OTR

ARLINGTON, Va. – NASCUS and Boeing Employees’ Credit Union have chosen different tactics to address the issue of federally insured state-chartered credit unions’ growing frustration with the overhead transfer rate. Despite their different strategies, NASCUS President/CEO Doug Duerr said, “Boeing Employees’ Credit Union’s decision to petition the NCUA to introduce transparency and equity into its overhead transfer decisions reflects the persistent and rising frustration with the overhead transfer status quo.it indicates that many credit unions believe the time for negotiations is passing rapidly.” NASCUS, in its history of opposing the agency’s overhead transfer rate policy, has addressed the matter through private discussions with NCUA and consensus building among credit union and credit union associations. The association argues that the overhead policy disadvantages state-chartered credit unions “which pay the full cost of supervision without the benefit of rebate from the insurance fund,” said NASCUS. -