National Credit Union Association - Definition
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National Credit Union Administration Definition
The National Credit Union Administration (NCUA) is an independent agency in the executive branch of the United States federal government, responsible for supervising the federal credit unions. The NCUA regulates, charters and supervises the credit unions and insures savings in federal and most state-chartered credit unions.
A Little More on What is the National Credit Union Administration
The NCUA was established on March 10, 1970 and was recognized on November 10, 1978. The NCUA is headed by a three-member board. The board members are appointed by the President of the United States and confirmed by the Senate. The tenure of a board member is six years, but they often continue to hold the position until the next member is appointed. The NCUA has five regional offices each responsible for specific regions. The offices of the NCUA are located at Albany, New York; Alexandria, Virginia; Atlanta, Georgia; Austin, Texas and Tempe, Arizona. The Alexandria office is the headquarter of the NCUA. The NCUA insures, charters, supervises and examines the Federal Credit Unions. The National Credit Union Administration is also responsible for administering the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF insures the deposits at all federal credit unions by using the tax dollars. Savings accounts, checking accounts, money markets, Individual Retirement Accounts, and Revocable Trust Accounts all are insured under the NCUSIF. The NCUA insures the deposits of more than 111 million account holder in all federal credit unions and the majority of the state-chartered credit unions. They manage the Community Development Revolving Loan Fund and run the Central Liquidity Facility. The Central Liquidity Facility is a mixed-ownership government corporation that supplies emergency loans to member credit unions. A website was launched in 2011 by the National Credit Union Administration to guide individuals to make informed financial decisions. The website contains personal finance tips as well as educational information. It provides information regarding the works of credit unions and where to find one. It also provides guidance about how to open a credit union.
References National Credit Union Administration
Academic Research on National Credit Union Administration (NCUA)
FromNational Credit Union Administrationv. First National Bank & Trust to the Revised Federal Credit Union Act: The Debate over Membership Requirements in the, Novajovsky, D. (2000). NYL Rev.,44, 221. First National Bank and Trust Co. v.National Credit Union Administration: An Overdue Declaration of the Overextension of the Common Bond, Van Es, A. D. (1996). J. Corp. L.,22, 815. National Credit Union Administration, SECURITIES, I. (2017). INTERNAL AUDITING NEEDS MORE SUPPORT IN THENATIONAL CREDIT UNION ADMINISTRATION, US Government Accountability Office, & United States of America. (1980). A Primer on Deposit Insurance: The Federal Deposit Insurance Corporation and theNational Credit Union Administration, Carbaugh, R., & Saunders, P. (2018).Journal for Economic Educators, 42-59. Although the role of deposit insurance and the Federal Deposit Insurance Corporation is discussed in college textbooks relating to Money and Banking, only a little attention is given to these topics. This article aims at filling the void by making provisions for a primer on the Federal Deposit Insurance Corporation, deposit insurance, and the National Credit Union Administration which leads to bank safety and credit unions and also ultimate confidence in our financial system. The purpose for writing this paper is for the public audience and this includes college students and the public that take interest in contemporary banking issues. NATIONAL CREDIT UNION ADMINISTRATIONAgency Information Collection Activities: Submission to OMB for Review; Comment Request, Burden, E. T. A., & Cost, E. T. A. (2003). NATIONAL CREDIT UNION ADMINISTRATIONSunshine Act Meeting, Ciccolella, C. S. NATIONAL CREDIT UNION ADMINISTRATION Sunshine Act Meeting. NATIONAL CREDIT UNION ADMINISTRATIONOFFICE OF INSPECTOR GENERAL, DeSarno, W. A. (2010). NATIONAL CREDIT UNION ADMINISTRATION OFFICE OF INSPECTOR GENERAL. First National Bank and Trust Co. v.National Credit Union Administration: An Orphan of the Chevron Doctrine, Wickter Jr, L. D. (1998). DePaul Bus. LJ,11, 443. Enterprise risk management and mortgage lending: a speech at theNational Credit Union Administration2007 Risk Mitigation Summit, Washington, DC, Bies, S. S. (2007).