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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 (FDIC), which insures commercial banks and savings institutions.
The National Credit Union Administration (NCUA) is the government agency that insures deposits at member credit unions. When your money is in a share account with a federally insured credit union ...
The National Credit Union Administration is the U.S. independent federal agency that supervises and charters federal credit unions. As of December 31, 2022, there were 4,760 federally insured credit unions in the United States with 135.3 million members.
Todd M. Harper is the twelfth Chairman of the National Credit Union Administration (NCUA). [1] Harper was nominated by President Donald J. Trump in 2019 and was designated chairman by President Joseph R. Biden on January 20, 2021.
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 ...
Approximately 236,000 people were directly employed by credit unions per data derived from the 2012 National Credit Union Administration (NCUA) Credit Union Directory. [7] As of 2019, there were 5,236 federally insured credit unions with 120.4 million members, and deposits of $1.22 trillion. [8]
This sign, displayed at all insured credit unions, informs members that their savings are insured by the NCUA. In 1970, Congress, approved, and then President Richard M. Nixon signed, Public Law 91-206 [2], creating the National Credit Union Administration as an independent federal financial regulator.
In addition, the Federal Deposit Insurance Reform Act of 2005 (P.L.109-171) allows for the boards of the FDIC and the National Credit Union Administration (NCUA) to consider inflation and other factors every five years beginning in 2010 and, if warranted, to adjust the amounts under a specified formula. [49] [50]