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Federal Credit Union Operating Fee Schedule for 2023

23-FCU-01 / January 2023
Federal Credit Union Operating Fee Schedule for 2023
All Federal Credit Unions
Operating Fee
All Federal Credit Unions
Federal Credit Union Operating Fee Schedule for 2023

Dear Boards of Directors and Chief Executive Officers:

The NCUA Board unanimously approved at its December 2022 meeting the agency’s 2023 operating and capital budgets. As a result of that decision and other factors, federal credit union operating fees will decrease by an average of approximately 1.8 percent in 2023.

Most of the reduction in the 2023 operating fee results from the NCUA Board applying a $15 million credit to amounts that would otherwise be owed to support the approved 2023 operating and capital budgets. The $15 million credit comes from previously collected operating fees that remained unspent at the end of 2022. The remaining reduction to the 2023 operating fee results from the 8.5 percent asset growth in federal credit unions1 exceeding the growth of the NCUA’s combined operating and capital budgets.2

The enclosed 2023 Operating Fee Schedule will help you calculate the exact amount of your credit union’s 2023 operating fee. The enclosure includes a web link to the NCUA’s online calculator. In March 2023, the NCUA will provide individual invoices that will include the specific dollar amount for each credit union’s operating fee. If your credit union owes an operating fee, it will be due no later than Tuesday April 18, 2023.

The remainder of this letter provides additional information about the operating fee and payment options.

How does the $15 million credit toward the 2023 operating fee impact my credit union’s invoice?

The $15 million credit is applied to the total amounts the NCUA anticipates collecting in 2023 from federal credit unions. This means that each credit union’s share of the $15 million will be proportional to the computed average assets used to calculate the operating fee due. The $15 million credit reduces the 2023 amount due from each credit union by 11.4 percent compared to what would otherwise be charged.

What is the timeline for operating fee and Share Insurance Fund invoices?

Your federal credit union’s 2023 operating fee will be based on a four-quarter average of total assets reported as of September 30, 2022; June 30, 2022; March 31, 2022; and December 31, 2021. In March 2023, federal credit unions with four-quarter average total assets greater than $1 million will receive an invoice for their 2023 operating fees. Federal credit unions with a four-quarter average total assets of $1 million or less are exempt from the operating fee.

Concurrently, all NCUA-insured credit unions will be notified of any adjustments needed to maintain their Share Insurance Fund capitalization deposits at one percent of insured shares, as required by the Federal Credit Union Act. Your credit union’s capitalization deposit may be adjusted up or down based on insured shares reported as of December 31, 2022.

For federal credit unions, the NCUA will combine your operating fee and capitalization deposit adjustment into a single invoice. Payment will be due no later than April 18, 2023.

How do I make the payment to the NCUA?

You are encouraged to participate in the direct debit program. To enroll, please complete the Authorized Electronic Transfer Payments form, which can be found on, and email the form to Once enrolled, you will continue to receive invoices by mail. Payments will be drafted automatically on the due date; no further action is required.

If you do not participate with the direct debit program you must submit payments to the NCUA in accordance with the instructions provided with the invoice and no later than April 18, 2023.

How does the Overhead Transfer Rate affect the Operating Fee?

For 2023, the OTR decreased to 62.4 percent, a change of 30 basis points compared to the 62.7 percent level in 2022. Each year, the NCUA uses the Overhead Transfer Rate (OTR) to determine how much of the NCUA’s operating budget is funded by the Share Insurance Fund. The OTR is derived from estimates of the NCUA’s resources that will be used for insurance-related functions. Generally, if the OTR increases the operating fee revenue collected from federal credit unions decreases, and vice versa. Additional discussion of the OTR and detailed information about the NCUA budget are available on the Budget and Supplementary Materials page of the NCUA website.

If you have any questions about your credit union’s operating fee, please contact the NCUA’s Office of the Chief Financial Officer at



Todd M. Harper


1 Based on the average of reported assets for the four quarters ending on September 30, 2022, compared to the average of reported assets for the four quarters ending on September 30, 2021.

2 The growth of combined operating and capital budgets from 2022 to 2023 is 6.7 percent. To preserve the relative relationship of the operating fees paid by federal credit unions with different levels of reported assets, the range for each operating fee tier has been adjusted by the computed growth in federal credit union total assets, net of all reported Paycheck Protection Program (PPP) loans, using the average of the same four quarters’ Call Report data used to compute your credit union’s operating fee. You can see the new asset ranges to the right of the adjusted fee rates on the enclosed chart.

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