NCUA's Letter to Federal Credit Unions: Operating Fee Schedule for 2023
The NCUA recently released a letter to federally chartered credit unions regarding the operating fee schedule for 2023.
The NCUA Board unanimously approved at its December 2022 meeting the agency’s 2023 operating and capital budgets. As a result of that decision and other factors, federal credit union operating fees will decrease by an average of approximately 1.8 percent in 2023.
Most of the reduction in the 2023 operating fee results from the NCUA Board applying a $15 million credit to amounts that would otherwise be owed to support the approved 2023 operating and capital budgets. 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 percent asset growth in federal credit unions exceeding the growth of the NCUA’s combined operating and capital budgets.
The enclosed 2023 Operating Fee Schedule will help you calculate the exact amount of your credit union’s 2023 operating fee. The enclosure includes a web link to the NCUA’s online calculator. In March 2023, the NCUA will provide individual invoices that will include the specific dollar amount for each credit union’s operating fee. If your credit union owes an operating fee, it will be due no later than Tuesday April 18, 2023.
