Define: National Credit Union Administration

The NCUA is an independent federal agency that regulates and supervises federal credit unions in the United States.

The NCUA’s main purpose is to ensure the safety and soundness of the credit union system and protect the interests of credit union members.

The NCUA provides deposit insurance coverage up to $250,000 per individual depositor, ensuring that members’ funds are protected in case of a credit union failure.

Yes, the NCUA has the authority to place a credit union into conservatorship or liquidation if it determines that the credit union is insolvent or poses a significant risk to its members.

You can verify if your credit union is federally insured by checking the NCUA’s online database called the Credit Union Locator.

Yes, the NCUA has the authority to regulate and supervise both federal and state-chartered credit unions, although state-chartered credit unions may also be subject to additional state regulations.

A federal credit union is chartered and regulated by the NCUA, while a state-chartered credit union is chartered and regulated by the state in which it operates, with oversight from the NCUA.

No, the NCUA cannot provide legal advice to individuals. If you have legal questions or concerns, it is recommended to consult with an attorney specializing in credit union law.

You can file a complaint against a credit union with the NCUA by submitting a complaint form through their website or by contacting their Consumer Assistance Center.

If your credit union fails, the NCUA will typically step in to either find a merger partner for the credit union or facilitate the transfer of member accounts to another credit union. Your deposits are insured up to $250,000, so you should not lose your funds in the event of a credit union failure.