Naperville, IL (April 28, 2026) |
The Illinois Credit Union League (ICUL) today announced that Illinois state-chartered credit unions will receive a regulatory fee credit from the State totaling $1,315,968 in 2026. The credit reflects regulatory fees collected in excess of actual supervisory and administrative expenses during the prior year.
As a result, credit unions realized an approximate 90 percent reduction in their March 2026 quarterly regulatory fee assessment. Each institution’s credit is calculated proportionally based on its share of the total fees collected by the State.
This annual credit is the direct result of legislation enacted following the League’s successful legal challenge to the State’s credit union regulatory fee structure in 2004. At that time, a regulatory fee increase led to excess collections of more than $2 million, which were redirected to the State’s General Revenue Fund for unrelated budgetary purposes. The League filed suit to halt the improper fee escalation and ensure accountability in how credit union regulatory funds are used.
Under the court-approved settlement, Illinois credit unions received a one-time cash payment of approximately $6.2 million in June 2009. The settlement also established long-term structural reforms, including a permanent reduction in regulatory fee rates effective January 1, 2009, and a lower threshold for the Credit Union Fund balance that triggers automatic credits back to credit unions.
Since 2009, the League’s advocacy has returned more than $30 million to Illinois state-chartered credit unions, including over $12 million in ongoing regulatory fee reductions in addition to direct credits.
“This year’s regulatory fee credit is another clear example of advocacy delivering real financial value to Illinois credit unions,” said ICUL President and CEO Libby Calderone. “Because of the League’s long-standing efforts, credit unions continue to benefit from a fair and accountable fee structure—one that ensures excess funds are returned where they belong. These dollars strengthen our credit unions and, in turn, support the members and communities they serve across Illinois.”