National Credit Union Administration


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National Credit Union Administration

Federal agency that oversees and insures the federal credit union system, and is funded by its members.

National Credit Union Administration

An agency of the United States government that charters and regulates credit unions and insures their deposits up to a certain level so as to reduce pressure for bank panics. Created in 1970 to succeed the Bureau of Federal Credit Unions, which had become inefficient because of the rapid expansion of credit unions in the middle of the 20th century, the NCUA insures deposits up to $100,000 or $250,000, depending on the type of account. This amount may be changed by statute. It does this through the National Credit Union Share Insurance Fund, which is capitalized by the credit unions themselves. The NCUA is also responsible for handling bankruptcies in credit unions. The agency is overseen by a three-member board appointed by the President and confirmed by the Senate for a six-year term. See also: FDIC, Office of Thrift Supervision.

National Credit Union Administration (NCUA).

The National Credit Union Administration (NCUA) is an independent federal agency that authorizes the establishment and oversees the administration of most federal- and state-chartered credit unions in the United States.

The National Credit Union Share Insurance Fund arm of the agency insures credit union deposits, just as the Federal Deposit Insurance Corporation (FDIC) does bank deposits.

NCUA is funded by member credit unions and is backed by the full faith and credit of the federal government.

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The National Credit Union Administration said it has made no decisions about the long-term future of Chetco.
Postal Service, but also such lesser-known entities as the African Development Foundation, the National Credit Union Administration Central Liquidity Facility, and the Rural Telephone Bank).
During the '70s the National Credit Union Administration authorized the formation of corporate credit unions, whose charter would be to provide liquidity and other financial services to credit unions in various geographic regions.
In addition, deposits in the nation's federal credit unions are federally insured through the National Credit Union Administration.
Contract Awarded to Providing of Travel Management Support Services for the National Credit Union Administration (NCUA).
The National Credit Union Administration (NCUA), which filed the lawsuit in 2013 on behalf of the failed credit unions, alleged that the securities' offering documents contained untrue statements that the loans were originated in accordance with underwriting guidelines.
7 million as of March 31, 2010, and a net loss of almost $172,000 for that quarter, according to its final call report with the National Credit Union Administration.
The Federal Reserve, the Office of Thrift Supervision, and the National Credit Union Administration have proposed clarifications to aspects of the final rules enacted in December 2008.
We are concerned about the consequences of reduced net worth and return on assets that would necessarily result from the measures that the National Credit Union Administration has proposed," said National Federation CEO Cliff Rosenthal.
the National Credit Union Administration, the Office of the Comptroller of the Currency and the Office of Thrift Supervision--to provide this additional guidance on applying FASB Statement on Standards no.
The interim final rules are being issued by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision.
Open since 1962, EFCU was approved by the National Credit Union Administration to broaden its membership to the nonmilitary-affiliated community of the Antelope Valley.

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