Fees for Credit Unions

(a) Applicants for approval by the Department for the addition of a single geographic common bond group shall pay an investigation fee of $1,000. (b) Applicants for Department approval of merger of two credit unions where neither is considered financially or otherwise unsafe or unsound shall pay an investigation fee of $1,000. (c) Applicants for Department approval of conversion from a federal or out of state credit union to a state credit union shall pay an investigation fee of $1,000. (d) Applicants for Department approval of a credit union subsidiary shall pay a processing fee of $500 for each application that is processed as a regular application. Applicants for approval of a credit union subsidiary are not required to pay a processing fee for each application that is processed as an expedited application. (e) Applicants for Department approval of conversion of a financial institution, other than a credit union, to a state credit union shall pay an investigation fee of $1,000. (f) Applicants for new branch offices or relocations of branches shall pay an investigation fee of $1,250 for each application that is processed as a regular application. Applicants for new branch offices or relocations of branches are not required to pay an investigation fee for each application that is processed as an expedited application. A simple redesignation of an existing credit union location, which does not entail the closure or opening of a location, only requires a written application but does not require a fee. (g) Applicants for approval of a new credit union shall pay an investigation fee of $20,000 for each application. (h) If a credit union satisfies the factors set out in the Department's Statement of Policies, the fee to exercise a single trust power is $250 and the processing is expedited to 7 days. A completed letter form application to exercise limited trust powers will be reviewed in 15 days; the fee is $750. A credit union that desires to exercise full trust powers files a regular application. A complete application will be reviewed in 30 days; the fee is $1,250. (i) Applicants for Department approval of the acquisition of the majority of the assets of a bank shall pay an investigative fee of $5,000. (j) The Department may in its discretion waive or reduce a fee based on the circumstances of the application. Authority: O.C.G.A. §§ 7-1-41 , 7-1-61 , 7-1-663 . History. Original Rule entitled "Fees for Credit Unions" adopted. F. Aug. 15, 2005; eff. Sept. 4, 2005. Amended: F. Jun. 10, 2014; eff. Jun. 30, 2014. Amended: F. June 15, 2015; eff. July 5, 2015. Amended: F. July 9, 2019; eff. July 29, 2019. Amended: F. Jan. 8, 2021; eff. Jan. 28, 2021. Amended: F. July 7, 2022; eff. July 27, 2022.