ALEXANDRIA, Va.—Federal credit union operating fees will decrease by an average of 23.7% in 2022, according to NCUA.
In a new Letter to Credit Unions, the NCUA board notified credit unions that half of the operating fee reduction was a result of the board applying a $15 million credit to amounts that would otherwise be allocated to support the 2022 Operating and Capital Budget. The credit comes from “previously collected operating fees that remained unspent at the end of 2021,” according to the letter.
The other half is a result of the agency’s 2021 budget surplus, which, as CUToday.info reported earlier, was used to offset the 2022 budget, growth in credit union system assets in 2021, as well as a slight increase to the share of the Operating Budget funded from the Share Insurance Fund (SIF), the letter states.
The agency has published a 2022 Operating Fee Schedule to help credit unions calculate their 2022 operating fee; operating fees are due to the NCUA on April 15.