The National Credit Union Administration (NCUA) released the latest quarterly credit union data summary which provides an overview of the financial performance of federally insured credit unions based on information reported to the agency in the first quarter of 2024.
As of March 31, 2024, there were 4,572 federally insured credit unions with 140.4 million members.
Beginning with the first quarter of 2024 Call Report, federally insured credit unions with more than $1 billion in assets are required to disclose, separately, income from overdraft and nonsufficient funds fees.
For first quarter 2024, these large credit unions reported a total $915,624,727 in overdraft and non-sufficient funds (NSF) fees.
For more information on credit unions’ collection and reporting of overdraft and NSF fees, see the Appendix of the Quarterly Data Summary Report.
Access the ‘Compliance Hotline’
Your League-member benefits include the Compliance Hotline — providing exclusive access to dedicated compliance experts:
Using the above phone number and email address, you can gain access to a knowledgeable team that’s ready to address all your credit union’s compliance inquiries — promptly and efficiently. With the Compliance Hotline, you can proactively respond to impromptu questions and issues by getting clarity and insight on technical topics that normally slow you down. We want to help you unlock the full potential of your League membership by leveraging the resources and support you need to navigate the complex world of compliance effortlessly. We’re ALWAYS just a phone call or email away!
Additionally, other League-member compliance resources include:
For more information, email Lisa Quaranta.
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