NCUA operating fees to increase about $16.4% in 2024

The operating fees that federal credit unions pay to the National Credit Union Administration will increase about 16.4% this year, agency board Chairman Todd Harper wrote last week.

“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,” Harper wrote, in a letter to federal credit unions.

Because of the COVID-19 pandemic, the NCUA conducted much of its examination work remotely, so the agency had money remaining in its travel budget during the last couple of years. As a result, federal credit unions received a credit that decreased their fees. This year, Harper wrote, the agency does not have money left over from previous budgets.

In his letter, Harper said that the operating fee is based on the NCUA’s operating and capital budgets, which grew about 7% between 2023 and 2024.

 

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