National Credit Union Administration
USINFO | 2013-11-13 13:38
National Credit Union Administration |
|
Official seal |
Agency overview |
Formed |
March 10, 1970 |
Preceding Agency |
Bureau of Federal Credit Unions |
Jurisdiction |
Federal government of the United States |
Headquarters |
Alexandria, Virginia
United States |
Employees |
1,179 (March 2012) |
Annual budget |
$251.4 million USD (2013) |
Agency executives |
Debbie Matz, Chairman
Michael E. Fryzel, Board Member |
Website |
ncua.gov |
The National Credit Union Administration (NCUA) is the independent federal agency created by the U.S. Congress to regulate, charter, and supervise federal credit unions. With the backing of the full faith and credit of the U.S.
Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 92 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. As of December 2012, there were 6,819 federally insured credit unions, total assets of more than $1 trillion, and net loans of $597.7 billion.
The NCUA is governed by a three member Board appointed by the President of the United States and confirmed by the United States Senate. The President also chooses which member will serve in the position of Chairman. Board members serve six year terms, although members often remain until their successors are confirmed and sworn in.
The NCUA is administered through five regional offices, each responsible for specific states and territories.
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