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National Credit Union Administration
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National Credit Union Administration
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. The NCUA is an independent federal agency created by the United States Congress to regulate, charter, and supervise federal credit unions.
With the backing of the full faith and credit of the U.S. government, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 142 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. Besides the Share Insurance Fund, the NCUA operates three other funds: the NCUA Operating Fund, the Central Liquidity Facility (CLF), and the Community Development Revolving Loan Fund (CDRLF). The NCUA Operating Fund, with the Share Insurance Fund, finances the agency's operations.
As of December 31, 2024[update], there were 4,455 federally insured credit unions, with assets totaling $2.31 trillion, and net loans of $1.65 trillion. The NCUA exclusively insures credit unions, whereas commercial banks and savings institutions are insured by the Federal Deposit Insurance Corporation.
The NCUA is governed by a three-member board appointed by the president of the United States and confirmed by the Senate. The president also chooses who will serve as Chairman. No more than two members may be members of the same political party. Board members serve six-year terms, and cannot be reappointed to succeed themselves, unless initially appointed to fill the remainder of an unexpired term. Board members may, however, continue to serve until their successor is confirmed and takes office.
The current board members as of May 24, 2026[update]:
President Trump has nominated the following to fill seats on the board. They await Senate confirmation.
The NCUA is administered through three regional offices, each responsible for specific states and territories.
As part of the New Deal, President Franklin D. Roosevelt signed the Federal Credit Union Act into law in 1934. The law allowed the chartering of federal credit unions in all states. The federal law sought to make credit available and promote thrift through a national system of nonprofit, cooperative credit.
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National Credit Union Administration
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. The NCUA is an independent federal agency created by the United States Congress to regulate, charter, and supervise federal credit unions.
With the backing of the full faith and credit of the U.S. government, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 142 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. Besides the Share Insurance Fund, the NCUA operates three other funds: the NCUA Operating Fund, the Central Liquidity Facility (CLF), and the Community Development Revolving Loan Fund (CDRLF). The NCUA Operating Fund, with the Share Insurance Fund, finances the agency's operations.
As of December 31, 2024[update], there were 4,455 federally insured credit unions, with assets totaling $2.31 trillion, and net loans of $1.65 trillion. The NCUA exclusively insures credit unions, whereas commercial banks and savings institutions are insured by the Federal Deposit Insurance Corporation.
The NCUA is governed by a three-member board appointed by the president of the United States and confirmed by the Senate. The president also chooses who will serve as Chairman. No more than two members may be members of the same political party. Board members serve six-year terms, and cannot be reappointed to succeed themselves, unless initially appointed to fill the remainder of an unexpired term. Board members may, however, continue to serve until their successor is confirmed and takes office.
The current board members as of May 24, 2026[update]:
President Trump has nominated the following to fill seats on the board. They await Senate confirmation.
The NCUA is administered through three regional offices, each responsible for specific states and territories.
As part of the New Deal, President Franklin D. Roosevelt signed the Federal Credit Union Act into law in 1934. The law allowed the chartering of federal credit unions in all states. The federal law sought to make credit available and promote thrift through a national system of nonprofit, cooperative credit.
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