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The general provisions in the Federal Act were based on the Massachusetts Credit Union Act of 1909, [2] and became the basis of many other state credit union laws. Under the provisions of the Federal Credit Union Act, a credit union may be chartered under either federal or state law , a system known as dual chartering , which is still in ...
The Bureau of Federal Credit Unions was a federal agency in the United States that supervised and chartered federal credit unions from 1934 until 1970. The Bureau was created through the Federal Credit Union Act as part of the New Deal. It was self-financing and did not receive appropriations from general Treasury funds. [1]
The National Association of Federally-Insured Credit Unions (NAFCU) is a U.S. trade organization representing the nation's federally-insured credit unions.The NAFCU hosts conferences, [1] publishes original research on issues relating to the credit union industry, [2] and provides testimony before the United States Congress on issues relating to credit unions and the financial services industry.
The NCUSIF is supervised by the National Credit Union Agency, an independent federal agency created in 1970. The NCUSIF has the full backing of the U.S. government in case an insured credit union ...
The National Credit Union Share Insurance Fund (NCUSIF) is the federal fund created by the United States Congress in 1970 to insure members' deposits in federally insured credit unions. On July 22, 2010, the Dodd–Frank Wall Street Reform and Consumer Protection Act was signed into law and included permanently establishing NCUA's standard ...
The Credit Union Membership Access Act is an Act for the United States government that amended the Federal Credit Union Act in 1998. The bill was proposed on the heels of the Supreme Court decision in NCUA v.
Dual chartering refers to the system by which credit unions in the United States can be chartered under either of two governmental authorities; by either the federal government or by the state government. [1] This system exists because of the Federal Credit Union Act, which Congress passed in 1934.
The Massachusetts Credit Union Act of 1909 was signed into law and credit unions were formed throughout the state. Filene organized the National Association of Peoples Banks to advance the credit union cause in the United States. Little progress was made until 1921, when Filene observed in Roy Bergengren the key organizer he needed. Together ...