National Credit Union Administration - NCUA

DEFINITION of '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.

BREAKING DOWN '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.

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RELATED FAQS
  1. Does the FDIC cover credit unions?

    Learn whether or not the FDIC insures your funds at a credit union, and what types of insurance are available at the different ... Read Answer >>
  2. What is the difference between a state and a federally chartered credit union?

    Learn how federal chartered credit unions are regulated by the NCUA, while state chartered unions are regulated by their ... Read Answer >>
  3. Besides a savings account, where is the safest place to keep my money?

    Savings accounts are safe because investors' deposits are guaranteed by the Federal Deposit Insurance Corporation (FDIC) ... Read Answer >>
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