Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69U - FSC - Financial Institution Regulation
Chapter 69U-110 - STATE CREDIT UNIONS
Section 69U-110.053 - Credit Union Assessments

(1) Each state credit union shall pay to OFR a semiannual assessment computed on total assets as shown on the NCUA 5300 of the credit union as of the last business day in June and the last business day in December of each year. In the event that a NCUA 5300 is amended, and such amendment results in a change in consolidated total assets, the semiannual assessment shall be computed on the adjusted total assets reported in the amended NCUA 5300 only if such amended report is filed no later than July 31 and January 31 of the current assessment period. No adjustment will be made for amended reports filed after this date.

(2) The semiannual assessment shall be computed on the following schedule:

(3) Payment of the semiannual assessment, if mailed, must be received by the OFR no later than January 31 and July 31 of each year. The timeliness of the payment is determined by the date the OFR receives the payment rather than the date of the mailing postmark. Payment of the semiannual assessment, if made via wire transfer or an automated clearinghouse (ACH), must be transmittted (and reflect a transmittal date of) no later than January 31 and July 31 of each year in order to be timely.

(4) The OFR may levy a late payment penalty of up to $100.00 per day or part thereof for each day that a semiannual assessment payment is past due, unless it is excused for good cause, including isolated clerical and other minor errors. For intentional late payment of a semiannual assessment, the OFR shall levy an administrative fine of up to $1,000.00 per day for each day that a semiannual assessment payment is past due.