Comment period on NCUA operating fee methodology notice closes September 5
ALEXANDRIA, VA (August 22, 2023) — Stakeholders have until September 5 to submit comments on the NCUA’s request for comment on its operating fee schedule methodology. For more information or to submit a comment, please visit Regulations.gov.
The NCUA Board, at its June 22 meeting, unanimously approved the issuance of a notice and request for comment about adjustments to the methodology the Office of the Chief Financial Officer uses to determine how it apportions operating fees charged to federal credit unions. The Board uses these operating fees to fund part of the NCUA’s annual budget.
The Board proposes to increase the threshold below which federal credit unions are exempt from paying an operating fee from $1 million to $2 million and establish a process to update the exemption threshold in future years based on the credit union system’s annual asset growth. The request for comment also seeks views about whether and how the Board should modify the current three-tier operating fee schedule.
The notice and request for comment was published in the Federal Register on July 6, 2023, and has a 60-day comment period, ending September 5, 2023.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 135 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.
