History of NCUA
Established in 1970, the National Credit Union Administration (NCUA) is an autonomous federal agency responsible for regulating, chartering, and supervising federal credit unions across the United States. Its primary objective is to safeguard the stability and reliability of credit unions. Much like the Federal Deposit Insurance Corporation (FDIC) for banks, the NCUA operates as a guarantor, offering deposit insurance to safeguard members’ funds in credit unions. Through its oversight and regulatory functions, the NCUA aims to uphold the integrity of the credit union system, ensuring the security of members’ deposits and fostering confidence in the credit union industry. In response to shifting financial conditions and issues, the NCUA has modified its regulation strategy over time. To protect credit union members’ interests and uphold the integrity of the financial system, the NCUA is essential.