Washington State Department of Financial Institutions

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:

  1. Hourly Fee: $64.35
  2. 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.

View a PDF version of this bulletin.