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About
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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Analysis
The NCUA’s economists and analysts compile data on the credit union system’s financial performance, merger activity, changes in credit union chartering and fields of membership, as well as broader economic trends affecting credit unions. Users can find information on a single credit union or analyze broader nation-wide trends.
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Support Services
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.
Consumers
Consumers
The NCUA works to protect credit union members and consumers, raise awareness of potential frauds, facilitate access to affordable financial services, and educate consumers on the importance of savings and how they can improve their financial well-being.
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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.

Nonstandard Bylaw Amendment

95-1122 / December 1995

Subject

Bylaws

Historic Status

Non-historic

FROM: Richard S. Schulman, Associate General Counsel

SUBJ: Nonstandard Bylaw Amendment - [redacted] (Your November 9, 1995, Memorandum)

DATE: December 6, 1995

You have asked for our comments on [redacted] proposed amendment to Article VIII, Section 7 of the FCU Bylaws. The amendment would allow only the CEO to serve a board member and employee. The proposed amendment would relax the total prohibition on employees serving as board members that is a standard bylaw amendment to Article VIII, Section 7.

As [redacted] noted, there is some confusion regarding the title of the individual for whom the exception is being made. In order to avoid internal control problems, the FCU needs to clarify whether the individual is the manager or the CEO and then be consistent in its use of the title.

We have no legal objection to the proposal.

GC/MFR:bhs
SSIC 6100
95-1122

Last modified on

11/14/24

Nonstandard Bylaw Amendment

Footnotes