§ 14351
125 words·~1 min read·
/ca/financial-code/14351A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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:
Total Assets
Percentage of Base
Assessment Rate
$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.