Congress established the NCUSIF in 1970 to insure member share accounts at all federally chartered credit unions and most state chartered credit unions. NCUSIF insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC). The NCUSIF is managed by NCUA under the direction of the three-person NCUA Board appointed by the President of the United States.
Why aren't credit unions insured by the Federal Deposit Insurance Corp. (FDIC), like banks and thrifts? Print
Modified on: Wed, Nov 6, 2019 at 5:28 AM
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