Which U.S. government agency charters and supervises federally insured credit unions?

The National Credit Union Administration charters and supervises federally insured U.S. credit unions.

The NCUA is an independent federal agency created by Congress in 1970. It administers the National Credit Union Share Insurance Fund, which protects qualifying member share deposits at federally insured credit unions within applicable limits.

Credit unions are member-owned financial cooperatives rather than shareholder-owned banks. Members typically share a common bond, such as employment, geography, or membership in an organization, although eligibility rules vary by institution.

The NCUA’s role is distinct from the FDIC’s role for banks. The agency also operates the Share Insurance Fund and regulates federal credit unions. State-chartered credit unions may be supervised primarily by state regulators while still receiving federal share insurance if they qualify.