2019-20 Local Agency Security Program Assessment Due

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The Department of Business Oversight (DBO) mailed the 2019-20 Local Agency Security Program assessment notices on Monday, Sept. 30 to credit unions that hold local agency deposits.  The notice states that the assessment is due upon receipt of invoice and becomes delinquent if not paid by Oct. 31, 2019. 

Credit unions may pay by check or electronically via ACH.  The receipt for check payment is the cancelled check and credit unions can confirm payment by calling 916-322-5397.

The assessment was based on the average local agency deposits over the last four quarters. The rate was 0.0034%, an increase from 0.0026% for the previous fiscal year.

For any other questions, credit unions may contact Lisa Huang at Lisa.Huang@dbo.ca.gov or 415-542-6256.

Click here to read this and other DBO information in the latest DBO Monthly Bulletin.

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