Section 5.4. Semiannual assessment for credit unions

(a) Credit unions shall pay a semiannual assessment to the Department.

(b) The semiannual assessment on credit unions will be calculated as follows:

If the amount of the total assets is:		The semiannual assessment will be:
Over:	But not over:	This amount:		The excess over:	Times (x):
0	$24,503,168	$2,500	+	$0	0
$24,503,168	$1,115,871,488	$2,500	+	$24,503,168	0.00010739750
$1,115,871,488	$3,376,610,357	$119,842	+	$1,115,871,488	0.00003130250
$3,376,610,357		$190,609	+	$3,376,610,357	0.00001045000

(c) Credit unions will be billed in December and June based upon the total assets reported in the immediately preceding NCUA Call Report.

Notation

Cross References

This section cited in 10 Pa. Code § 5.5 (relating to adjustments to assessments; invoicing).