National Credit Union Administration
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National Credit Union Administration
The National Credit Union Administration (NCUA) is an independent federal agency that regulates and supervises federal credit unions.
The term "members" can refer to two different groups in this context:
| • | Member Credit Unions: The NCUA's primary role is to ensure the safety and soundness of the credit union system. To do this, it charters and regulates federal credit unions and insures deposits at these institutions. This insurance is provided through the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States government. The NCUA also insures the vast majority of state-chartered credit unions that apply and qualify for the coverage. |
| • | Individual Credit Union Members: When a credit union is federally insured, the individual account holders are also referred to as "members" of the NCUA system. Their deposits, including savings, checking, and retirement accounts, are insured up to at least $250,000 per account ownership category. This protection is similar to the Federal Deposit Insurance Corporation (FDIC) insurance for bank accounts. |
NCUA members are used as a shapefile in VDAGIS projects.