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California Passes New Assessment Matrix

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

By Peter Strozniak | Updated on September 04, 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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