National Credit Union Administration

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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
Employees	1,149 (2020)[1]
Annual budget	$316.8 million (2021)[2]
Agency executives	Todd M. Harper, Chairman[3] Kyle S. Hauptman, Vice Chairman[3] Tanya Otsuka, Board Member[3]
Website	www.ncua.gov

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, 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.^[4]: 12 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 124 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, 2020^[update], there were 5,099 federally insured credit unions, with assets totaling more than $1.84 trillion, and net loans of $1.16 trillion.^[5] The NCUA exclusively insures credit unions, whereas commercial banks and savings institutions are insured by the Federal Deposit Insurance Corporation.