2.59.401    CREDIT UNIONS - SUPERVISORY FEE

(1) The division invoices credit unions for semiannual assessments. The assessment is based on each credit union's total assets provided in its previous March and September financial performance reports.

(2) The fee is calculated based on the total assets of the credit union multiplied by .0000375, plus the flat fee listed in the table below.

 

Total Assets	Flat Fee ($)
$0 to $50 million	$0
Over $50 to $100 million	$3,000
Over $100 to $250 million	$5,000
Over $250 million to $1 billion	$7,500
Over $1 billion	$15,000

 

Example: Credit Union A reports total assets of $36,169,980 x .0000375 plus $0 equals $1,356.37.

 

(3) The assessment is due 30 days after each invoice date, or July 31 and January 31, whichever is later.

(4)  The assessment billed in December 2022 and collected in January 2023 is waived. 

 

History: 32-3-201, MCA; IMP, 32-3-201, MCA; Eff. 11/3/75; AMD, 1991 MAR p. 442, Eff. 3/15/91; TRANS, from Commerce, 2001 MAR p. 1178; AMD, 2007 MAR p. 1928, Eff. 11/22/07; AMD, 2008 MAR p. 2620, Eff. 12/25/08; AMD, 2016 MAR p. 2325, Eff. 12/10/16; AMD, 2020 MAR p. 2133, Eff. 11/21/20; AMD, 2021 MAR p. 1319, Eff. 10/9/21; AMD, 2022 MAR p. 1656, Eff. 8/6/22.