(a) The amount of the annual assessment on any credit union holding a certificate authorizing it to act as a credit union shall be the greater of (1) two thousand dollars ($2,000) or (2) the sum of the products determined by multiplying (A) increments of the credit union’s total assets by (B) percentages of the base assessment rate, according to the following table:
Percentage of Base | Total Assets |
|---|---|
$0–$3,000,000 | 85.0% |
$3,000,000–$6,000,000 | 25.0% |
$6,000,000–$10,000,000 | 13.0% |
$10,000,000–$100,000,000 | 12.5% |
$100,000,000–$500,000,000 | 12.25% |
$500,000,000–$1,000,000,000 | 12.0% |
$1,000,000,000–$2,000,000,000 | 11.5% |
$2,000,000,000–$5,000,000,000 | 8.0% |
$5,000,000,000–$10,000,000,000 | 3.5% |
Excess over $10,000,000,000 | 3.0% |
(b) The base assessment rate for each annual assessment shall be fixed by the commissioner but shall not exceed two dollars and twenty cents ($2.20) per one thousand dollars ($1,000) of total assets.
(Amended by Stats. 2013, Ch. 115, Sec. 1. (AB 1282) Effective January 1, 2014.)