DCU Bulletin
Final Rule on the Credit Union Fee Increase
December 12, 2008
NO: B-08-16
On November 26, 2008, the Department of Financial Institutions (DFI) filed the final rule (CR-103, WSR 08-24-057) on asset assessment and hourly fee increases for credit unions.
The asset assessment and fee rates will increase by 5.57% in accordance with the fiscal growth factor (RCW 34.135) and will take effect December 31, 2008.
The final rule is available on the DFI website at: http://dfi.wa.gov/cu/rulemaking.htm.
Effective December 31, 2008, the Division’s proposed assessment and fee rates would be increased by 5.57% as follows:
- Hourly Fee: $64.35
- B. Asset Assessments effective December 31, 2008:
| Credit Union’s Total Assets | Quarterly Asset Assessment |
| over $500 Million (M) | 21,163 +( .00001729 x total assets over $500M) |
| over $100M and up to $500M | $5,883 + (.00003819 x total assets over $100M) |
| over $25M and up to $100M | .00005883 x total assets |
| over $10M and up to $25M | $1,296 |
| over $2M and up to $10M | $863 |
| over $500K and up to $2M | $575 |
| up to $500K | $0 |
Key to Table: M = Million; K = Thousand
Comparison of 2008 Asset Assessment Fees to 2009 Proposed Asset Assessment Fees
| Total Assets | 2008 Quarterly Asset Assessment Fee | 2009 Proposed Quarterly Asset Assessment Fee | Quarterly Dollar Change |
| $1 billon | $28,237 | $29,808 | $1,571 |
| $500 million | $20,045 | $21,159 | $1,114 |
| $100 million | $5,573 | $5,883 | $310 |
| $25 million | $1,228 | $1,296 | $68 |
| $10 million | $818 | $863 | $45 |
| $1 million | $545 | $575 | $30 |
If you wish to obtain a copy of the rule, please contact Rhonda Mires at 360-902-8718 or rmires@dfi.wa.gov.
