NCUA - Federal Credit Union Operating Fee Schedule for 2024

 

 

Letter to Federal Credit Unions (24-FCU-01) Federal Credit Union Operating Fee Schedule for 2024 Dear Boards of Directors and Chief Executive Officers: The NCUA Board unanimously approved the agency’s 2024 operating and capital budgets at its December 2023 meeting. As a result of that decision and other factors, federal credit union operating fees will increase by an average of approximately 16.36 percent in 2024. Additionally, the operating fee exemption threshold was increased from $1 million to $2 million. Federal credit unions with a four-quarter average of $2 million or less in total assets are exempt from the operating fee. The increase in the 2024 operating fee results from budgetary growth at the NCUA and the lack of a 2024 operating fee credit for unspent fees collected in past years. The 2024 operating fee is based on the NCUA’s operating and capital budgets, which grew approximately 7 percent combined, between 2023 and 2024. The NCUA applied credits to the operating fee charges for 2022 and 2023 for the fees it collected but did not spend in 2021 and 2022, largely because of reduced travel spending during the COVID-19 pandemic. Travel-related spending increased in 2023, and the NCUA ended the year without sufficient balances to provide a credit to the 2024 operating fee. Read the Letter to Federal Credit Unions