Operating Fee Bills Arriving in March, Due April 16

ALEXANDRIA, Va.-NCUA issued a Letter to Federal Credit Unions last week, alerting the institutions to upcoming debts to be paid. The letter (04-FCU-01) notified federal credit unions that the invoices for the 2004 operating fee and adjustment to the 1% deposit in the National Credit Union Share Insurance Fund would be arriving in March and are due April 16. The operating fee scale has changed in a downward direction for natural person federal credit unions, according to the letter. The 2004 rate is down 6.81% from last year’s rate, primarily due to federal credit union asset growth in 2003. Additionally, the asset amounts within rate bracket categories have been increased by 10%. These are adjusted each year according to the asset base. Corporate credit unions have the same operating fee scale as last year.