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California Assessment Changes for State-Chartered CUs: Print Preview

This preview from our Sept. 4 print edition looks at a new state law that should lower disproportionate fees for the largest credit unions in the state.

By Peter Strozniak | Updated on August 29, 2013

If the three largest state-chartered credit unions in California were to convert to federal charters, the state’s regulator would lose $1.7 million of its $7.2 million budget, leaving small and midsize state-chartered credit unions to subsidize that loss.

That’s the worst-case scenario the California Credit Union League wanted to avoid, and the reason the league successfully lobbied the state legislature to approve Assembly Bill 1282, which establishes a new assessment table that provides more parity between state assessments and NCUA operating fees. The bill was signed into law by Gov. Jerry Brown on Aug. 16.

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Peter Strozniak

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