NCUA’s Letter to FCUs Outlines Decreased Operating Fee for 2023

ALEXANDRIA, Va.–NCUA has sent a Letter to Federal Credit Unions (23-FCU-01) noting federal credit union operating fees will decrease by an average of approximately 1.8% in 2023.

The agency noted most of the reduction in the 2023 operating fee results from the approval by its board at its December 2022 meeting to apply a $15 million credit to amounts that would otherwise be owed to support the approved 2023 operating and capital budgets, as CUToday.info reported earlier.

The $15 million credit comes from previously collected operating fees that remained unspent at the end of 2022. The remaining reduction to the 2023 operating fee results from the 8.5% asset growth in federal credit unions exceeding the growth of the NCUA’s combined operating and capital budgets, the agency said.

The Deadline

The Letter to FCUs included a 2023 Operating Fee Schedule as well as a link to NCUA’s online calculator. In March, NCUA said it will provide individual invoices that will include the specific dollar amount for each credit union’s operating fee. Operating fees are due no later than April 18.