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One of the NCUA’s responsibilities is managing the National Credit Union Share Insurance Fund (NCUSIF). It is the NCUSIF that guarantees money in credit union accounts is backed with the full ...
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.
This is a partial list of credit unions in the United States.. A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. [1]
The NCUA Corporate Stabilization Program was created on January 28, 2009, [1] in response to investment losses incurred at U.S. Central Credit Union. [2] U.S. Central was a third-level corporate credit union that provided services to other corporate credit unions, which in turn served public-facing credit unions.
Paducah Teachers Federal Credit Union, Paducah, KY. 09/30/2022. Closed. Empire Financial Federal Credit Union, New York, NY. 03/04/2022. Closed. Portsmouth Schools Federal Credit Union, Portsmouth ...
The NCUSIF has the full backing of the U.S. government in case an insured credit union fails. According to the NCUA, no credit union member has lost money in federally insured accounts at a credit ...
Contributed capital is the one percent of insured shares deposited by each federal credit union, as well as all federally insured, state-chartered credit unions. The Federal Credit Union Act requires the NCUA Board to set a target equity ratio of at least 1.20 percent and no more than 1.50 percent of total insured deposits.
All credit unions on this list are members of the National Credit Union Association (NCUA), so deposits are protected through the National Credit Union Share Insurance Fund (NCUSIF), which ...