NCUA issues operating fee schedule for 2002

<p>ALEXANDRIA, Va.-NCUA released the new operating fee schedule for 2002 in its first Letter to Federal Credit Unions of the year (02-FCU-01). The rate increased by 4.36% over the 2001 rate. This increase was mainly due to pay comparability requirements, the biannual regional training conferences, and the drop in the overhead transfer rate. After the 2001 20% cut in the operating fee due to the inflated overhead transfer rate of 66.72%, the 2002 increase still accounts for a 16% drop from the 2000 fee. The operating fee and capitalization deposit adjustment payments are due April 15. Corporate credit union operating fees will remain unchanged. The letter is available at NCUA’s Web site (www.ncua.gov) and includes a chart of the operating fee schedule by assets.</p>