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National Credit Union Administration

The National Credit Union Administration (NCUA) is an American government-backed insurer of credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federal Deposit Insurance Corporation, which insures commercial banks and savings institutions. The NCUA is an independent federal agency created by the United States Congress to regulate, charter, and supervise federal credit unions.[4]: 12  With the backing of the full faith and credit of the U.S. government, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. Besides the Share Insurance Fund, the NCUA operates three other funds: the NCUA Operating Fund, the Central Liquidity Facility (CLF), and the Community Development Revolving Loan Fund (CDRLF). The NCUA Operating Fund, with the Share Insurance Fund, finances the agency's operations.

Agency overview

March 10, 1970

Federal government of the United States

Alexandria, Virginia

1,149 (2020)[1]

$316.8 million (2021)[2]

www.ncua.gov

As of December 31, 2020, there were 5,099 federally insured credit unions, with assets totaling more than $1.84 trillion, and net loans of $1.16 trillion.[5] The NCUA exclusively insures credit unions, whereas commercial banks and savings institutions are insured by the Federal Deposit Insurance Corporation.

Collaborated with the and Congress to establish the Temporary Corporate Credit Union Stabilization Fund (Stabilization Fund) to stabilize the U.S. credit unions, protect the NCUSIF and ensured credit unions, not taxpayers, paid the costs of the Stabilization Fund over time.

U.S. Treasury Department

Re-securitized the unsuccessful mortgage backed securities after liquidating the five failed corporate credit unions. With a government-backed guarantee, the securities were sold to raise nearly $30 billion.

A temporary share guarantee was established for deposits at corporate credit unions.

Bridge corporate credit unions were established to ensure services continued to be provided to consumer credit unions during the transition and resolution timeframe.

Worked together with bridge corporate credit union members and to ensure a seamless transition of services to new entities.

Website[edit]

On March 9, 2011, then Board Chairman Debbie Matz unveiled MyCreditUnion.gov, a source of educational information and personal finance tips designed to help individuals make financial decisions. The website also explains how credit unions work, where to find one, and even how to start a credit union.[18]

Title 12 of the Code of Federal Regulations

Credit Union National Association

NCUA Corporate Stabilization Program

NCUA v. First National Bank & Trust

List of financial regulatory authorities by jurisdiction

Official website

The in the Federal Register

NCUA

Search for the

NCUA's Letters to Credit Unions and Other Guidance

Search for the NCUA Individual Credit Union Data

NCUA Share Insurance Calculator

MyCreditUnion.Gov