NCUA shares the load with credit unions

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NCUA shares the load with credit unions

NCUA protects the money you have in a federally insured credit union up to $250,000, same as FDIC protects money in a bank account. Chairman Debbie Matz explains...

Federal News Network Staff

October 6, 2010 10:42 am

< a min read

The new Wall Street reform law gives the National Credit Union Administration a permanent role to insure consumer credit union accounts up to $250,000. That role is similar to what the FDIC does for regular bank accounts. This isn’t brand new for the NCUA. They’ve had the authority in the past, but it was never permanent: Congress always had to vote on it. Chairman Debbie Matz explains how the agency goes about insuring the accounts.