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Created by the U.S. Congress in 1970, the National Credit Union Administration is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions.
Regulation & Supervision
Regulation & Supervision
The NCUA protects the safety and soundness of the credit union system by identifying, monitoring and reducing risks to the National Credit Union Share Insurance Fund. Backed by the full faith and credit of the United States, the Share Insurance Fund provides up to $250,000 of federal share insurance to millions of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.
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The NCUA provides a number of support services to the credit union system, such as providing training, grants and loans, chartering, and field-of-membership services; maintaining the health and stability of Share Insurance Fund; managing the assets of failed credit unions; and providing emergency liquidity.
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Consumers
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Cybersecurity Resources
Cybersecurity Resources
Cyberattacks and cybersecurity vulnerabilities pose significant risks to the financial system. Because of vulnerabilities within the credit union industry and the broader financial system to potential cyberattacks, cybersecurity is one of the NCUA’s top supervisory priorities and a top-tier risk under the agency’s enterprise risk-management program.

Delegation of Investment Authority

92-1006 / November 1992

Delegation of Investment Authority

Subject

Governance

Historic Status

Non-historic

November 12, 1992

Michael P. Malloy, Esq.
Drinker Biddle & Reath
Broad and Chestnut Streets
Philadelphia, PA 19107

Re: Delegation of Investment Authority (Your October 2, 1992, Letter)

Dear Mr. Malloy:

You have asked whether an investment management arrangement proposed by The Glenmede Trust Company is permissible for federal credit unions (FCUs). Please be advised that the National Credit Union Administration does not render opinions on specific agreements between FCUs and third parties. The determination as to the permissibility of a particular investment program, as well as its suitability for a particular FCU, should only be made by the board of directors of the FCU, with the advice of counsel. We refer you to the March 25, 1992, letter to Mr. Bruce Jolly for a more complete description of the issues raised by FCU involvement in investment programs.

Sincerely,

Hattie M. Ulan
Associate General Counsel

GC/LH:sg
SSIC 4660
92-1006

Last modified on

11/14/24