National Credit Union Administration in the United States
The National Credit Union Administration is responsible for chartering, insuring,
supervising, and examining Federal credit unions and administering the National
Credit Union Share Insurance Fund.
The National Credit Union Administration (NCUA) was established
by act of March 10, 1970 (12 U.S.C.1752), and reorganized by act of
November 10, 1978 (12 U.S.C. 226), as an independent agency in the executive
branch of the Federal Government. It regulates and insures all Federal credit
unions and insures State-chartered credit unions that apply and qualify for share
insurance.
Activities
Chartering
The Administration grants Federal credit union charters to groups
sharing a common bond of occupation or association or groups within a welldefined
neighborhood, community, or rural district. A preliminary investigation
is made to determine if certain standards are met before granting a Federal charter.
Examinations
The Administration regularly examines Federal credit unions to determine their solvency and compliance with laws and regulations and to assist credit union management and operations.
For further information, contact the Director, Office of Examination and Insurance. Phone, 703–518–6360.
Share Insurance
The act of October 19, 1970 (12 U.S.C. 1781 et seq.), providesfor a program of share insurance. The insurance is mandatory for Federal credit nions. State-chartered credit unions in many States are required to have Federal share insurance, and it is optional for other State-chartered credit unions. Credit nion members’ accounts are insured up to $100,000. The National Credit nion Share Insurance Fund requires each insured credit union to place and maintain a 1-percent deposit of its insured savings with the Fund.
For further information, contact the Director, Office of Examination and Insurance. Phone, 703–518–6360.
Supervision Supervisory activities are carried out through regular examiner
contacts and through periodic policy and regulatory releases from the
Administration. The Administration also identifies emerging problems
and monitors operations between examinations.
For a complete list of National Credit Union Administration regional offices,
visit www.ncua.gov/Contact.aspx.
National Credit Union Administration in State Statute Topics
Introduction to National Credit Union Administration (State statute topic)
The purpose of National Credit Union Administration is to provide a broad appreciation of the National Credit Union Administration legal topic. Select from the list of U.S. legal topics for information (other than National Credit Union Administration).
U.S. National Credit Union Administration (Regulatory Agencies)
This section introduces, discusses and describes the basics of u.s. national credit union administration. Then, cross references and a brief overview about Regulatory Agencies is provided. Finally, the subject of Banking Law in relation with u.s. national credit union administration is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.
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