| DATE: February 3, 1997 | LETTER NO.: 97-FCU-1 |
Dear Manager and Board of Directors:
In March 1997, you will receive an invoice from NCUA
for your 1997 operating fee and, if required, for the amount needed
to adjust your National Credit Union Share Insurance Fund (NCUSIF)
capitalization deposit to one percent of insured shares. The
operating fee and the capitalization deposit adjustment will be
based upon the assets and the insured shares you report as of
December 31, 1996. Your combined payment will be due on April
15, 1997.
For the fourth year in a row, the operating fee assessment
rates have been reduced. In 1994, the rate was reduced by 5.9
percent; in 1995, it was reduced by 7.3 percent; in 1996, it was
reduced by 6.6 percent; and in 1997, the rate has been reduced
by 2.9 percent.
The other change to the fee scale is the adjustment
of the rate bracket dividing points by seven percent. These dividing
points are adjusted each year by the same percentage as the projected
federal credit union asset growth to maintain the same relationship
of the scale to the asset base.
Once again, the same operating fee scale will remain
in effect for corporate federal credit unions. The scales are
printed on the back of this letter.
We are continuing our Automated Clearing House (ACH)
program so that you can pay your operating fee and the NCUSIF
deposit adjustment electronically. Participation in this program
allows you to call toll free, using a confidential PIN number,
to specify the amount and the date of your payment.
If you have any questions regarding the rates, the
invoice you will receive, or if you wish to participate in the
ACH program, please call or write your NCUA regional office.
For the National Credit Union Administration
Board,
/S/
Norman E. D'Amours
Chairman
| Total Assets | Assessment Rate | |
| over | but not more
than | |
| $ 0 | $500,000 | $0.00 |
| $500,000 | $750,000 | $100.00 |
| $750,000 | $435,347,925 | 0.0002439 X total assets |
| $435,347,925 | $1,317,356,287 | $106,181.36 + 0.0000711
X total
assets over $435,347,925 |
| $1,317,356,287 | and over | $168,892.15 + 0.00002373
X total
assets over $1,317,356,287 |
| $2,854.89 plus 0.2234 per $1,000 of assets over $5,000,000* |
| $6,110.11 plus 0.2111 per $1,000 of assets over $20,000,000 |
| $12,367.25 plus 0.1987 per $1,000 of assets over $50,000,000 |
| $22,362.33 plus 0.0123 per $1,000 of assets over
$100,000,000 |
* The federal credit union operating fee scale is
used for corporate federal credit unions
with assets under $5,000,000.
sent via ms-mail to all NCUA staff 2/5/97.