(redirected from Overhead Transfer Rate)
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References in periodicals archive ?
For years, state regulators and credit unions have sought the chance to weigh in on the overhead transfer rate to address the inequities of the current system.
NASCUS publicly called out the NCUA after the agency's general counsel said the methodology and manner in which it calculates the overhead transfer rate was considered "attorney work product.
NASCUS has sought increased transparency regarding the overhead transfer rate and operating fee methodologies for more than 10 years, and this decision will provide state regulators and credit unions -- both state and federal -- with the opportunity to provide meaningful input.
Any overhead transfer rate calculation is a guess and the entire process lacks transparency.
The NCUA each year makes an arbitrary determination of how much of its operation should be offset by the overhead transfer rate.
While NCUA Chairman Debbie Matz praised the agency's transparency regarding the budget, Board Member Mark McWatters criticized the NCUA for not making public more information regarding the NCUSIF's overhead transfer rate.
The NCUA's Fiscal Year 2015 Overhead Transfer Rate was 69.
Filson also questioned the increase in the overhead transfer rate charged to the NCUSIF, from 52% in 2008 to nearly 70% in 2014.
The former NCUA director of examination and insurance said he's concerned the NCUA operates the NCUSIF at a breakeven level, resulting in the overhead transfer rate increase.
Additionally, we have long lobbied the NCUA to reevaluate its methodology for assessing the overhead transfer rate to ensure that it charges credit unions the least amount possible for its operations and that its budget process, is fair, transparent and equitable.
An independent NCUSIF would end the overhead transfer rate.