Dear Manager and Board of Directors:
In March 2000, you will receive an invoice from NCUA for your 2000 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, 1999. Your combined payment will be due on April 17, 2000.
The 2000 operating fee rate will increase by 5.4 percent over the 1999 rate. In addition, an adjustment of the rate bracket dividing points will be changed by 4.7 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.
For 2000, the same operating fee scale will remain in effect for corporate federal credit unions. The scales are printed on the back of this letter.
If you have any questions regarding this letter, please contact the Office of the Chief Financial Officer at (703)518-6570.
Norman E. D’Amours
Chairman, National Credit Union Administration Board