National Credit Union Administration(NCUA)

Agency

Legal Definition of National Credit Union Administration

independent agency in the executive branch responsible for chartering, insuring, supervising, and examining federal credit unions. The NCUA grants federal credit union charters to groups sharing a common bond of occupation or association, or to groups within a well-defined neighborhood, community, or rural district. It issues policies and regulations, conducts annual examinations, and maintains a warning system designed to identify problems. The National Credit Union Share Insurance Fund insures deposits up to $250,000 in federally insured credit unions.

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Cite this Entry

“National Credit Union Administration.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/National%20Credit%20Union%20Administration. Accessed 25 Feb. 2021.

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