National Credit Union Administration

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Definition: National Credit Union Administration

National Credit Union Administration
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Full Definition of National Credit Union Administration

Independent federal agency which supervises the credit union system and insures member accounts. The agency operates the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the United States government. The agency is also able to place credit unions in conservatorship if necessary, and has done so as recently as March 2009, when it placed the two largest credit unions in conservatorship due to extreme losses during the financial crisis. The NCUA has its foundation in the Federal Credit Union Act of 1934, and became an independent agency in 1970.

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April 20, 2024 https://payrollheaven.com/define/national-credit-union-administration/.
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https://payrollheaven.com/define/national-credit-union-administration/ (accessed: April 20, 2024).
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National Credit Union Administration. PayrollHeaven.com. Retrieved April 20, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/national-credit-union-administration/

Definition Sources

Definitions for National Credit Union Administration are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.