Which regulator charters, regulates and supervises federal chartered credit unions?

Which regulator charters, regulates and supervises federal chartered credit unions?

• A. National Credit Union Administration (NCUA)
• B. Federal Reserve System (Fed)
• C. Federal Deposit Insurance Corporation (FDIC)
• D. Office of the Comptroller of the Currency (OCC)

Answer: (A)

The regulator that charters, regulates, and supervises federal chartered credit unions is the National Credit Union Administration. This agency is responsible for creating federal credit unions, overseeing their safety and soundness, and administering the National Credit Union Share Insurance Fund that insures member deposits. Other regulators focus on banks or other financial institutions: the Federal Reserve System acts as the central bank and oversees certain banks and holding companies; the Federal Deposit Insurance Corporation insures bank deposits and regulates many state-chartered banks; and the Office of the Comptroller of the Currency charters and supervises national banks and federal savings associations. Since the question specifies federal chartered credit unions, the appropriate regulator is the National Credit Union Administration.

The regulator that charters, regulates, and supervises federal chartered credit unions is the National Credit Union Administration. This agency is responsible for creating federal credit unions, overseeing their safety and soundness, and administering the National Credit Union Share Insurance Fund that insures member deposits. Other regulators focus on banks or other financial institutions: the Federal Reserve System acts as the central bank and oversees certain banks and holding companies; the Federal Deposit Insurance Corporation insures bank deposits and regulates many state-chartered banks; and the Office of the Comptroller of the Currency charters and supervises national banks and federal savings associations. Since the question specifies federal chartered credit unions, the appropriate regulator is the National Credit Union Administration.