What is ‘National Credit Union Administration – NCUA’
An agency of the United States federal government that was created to monitor federal credit unions across the country. One of its major responsibilities is running the National Credit Union Share Insurance Fund (NCUSIF), which uses tax dollars to insure the deposits at all federal credit unions.
Explaining ‘National Credit Union Administration – NCUA’
The NCUA officially became a federal agency in 1970 and is headquartered in Alexandria, Virginia. The agency is headed by a three-member board which is appointed directly by the president of the United States. The agency currently monitors over 9,500 federally insured credit unions that service over 80 million customer accounts.
National Credit Union Administration (ncua) FAQ
What does the National Credit Union Administration do?
The National Credit Union Administration monitors and insures the deposits of federally insured credit unions. As an independent federal credit union, the NCUA operates independently from the federal executive departments.
Are all credit unions insured by NCUA?
The NCUA insures all federal credit unions.
Is NCUA as good as FDIC?
The FDIC insures the money deposited at banks. The NCUA insures credit unions.
What is the difference between the FDIC and NCUA?
The FDIC insures the money deposited at banks. The NCUA insures credit unions.
What is NCUA number?
The phone number for the NCUA is 800.755.1030.
Further Reading
- Economies of scale in credit unions: further evidence – www.jstor.org [PDF]
- Membership growth, multiple membership groups and agency control at credit unions – www.sciencedirect.com [PDF]
- An update on economies of scale in credit unions – www.tandfonline.com [PDF]
- … National Credit Union Administration v. First National Bank & Trust to the Revised Federal Credit Union Act: The Debate over Membership Requirements in the Credit … – heinonline.org [PDF]
- US financial services consolidation: The case of corporate credit unions – link.springer.com [PDF]
- What drives the performance of cooperative financial institutions? Evidence for US credit unions – www.tandfonline.com [PDF]
- The economic impact of the federal credit union usury ceiling – onlinelibrary.wiley.com [PDF]
- Service productivity in US credit unions – link.springer.com [PDF]
