What is the NCUA?
NCUA is needed for all credit unions to help make sure they are safe and secure and makes sure credit unions have the right rules in place and that they follow those rules carefully. It also provides insurance so people who use a credit union will not lose their money if something goes wrong, up to $250,000 per account. NCUA also helps people learn more about how to manage their money with the credit union.
It is important to know that NCUA's insurance coverage does not extend to investments, such as stocks and bonds, held through a credit union. NCUA also does not insure any money sent to other individuals or companies.
NCUA also has rules about membership requirements, such as who can join a credit union, how many members have to be in a given credit union for it to operate safely and efficiently, and how shareholders must be compensated if a credit union is ever liquidated. NCUA also enforces standards related to recordkeeping, cybersecurity measures, and other operational issues. All of these rules ensure that credit unions remain safe and secure while offering members the best possible products and services.
To find out more about NCUA, visit their website at www.ncua.gov where you can learn about their mission, get answers to your questions, and more. It is important to remember that NCUA is here to protect and serve federal credit unions, so it's essential that you know how they operate and what they offer in order to keep your finances secure.
Who We Are
As an active part of the community for 93 years, Neighborhood Credit Union is a not-for-profit financial organization serving the state of Texas with branch locations in Collin, Dallas, Denton, Ellis, and Tarrant counties. With assets topping $1 billion, Neighborhood Credit Union has a continuously growing membership of over 60,000. For more information, call (214) 748-9393 or visit our homepage.