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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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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.

Credit Union Service Organization CUSO

97-0840 / September 1997

Subject

CUSOs

Historic Status

Non-historic

Fred M. Haden, Esq.
Moshos, Haden, De Deo & Machen, P.C.
10521 Judicial Drive, Suite 201
Fairfax, VA 22030

Re: Credit Union Service Organization (CUSO)
Your letter dated August 21, 1997.

Dear Mr. Haden:

You ask whether real estate property settlement and title insurance agency services related to one- to four-family properties are permissible CUSO services. Yes, these services are permissible under the categories of "loan processing, servicing, and sales" and "agency for sale of insurance." 12 C.F.R. §701.27(d)(5)((i and ii). These services would continue to be permissible under the proposed revision to the CUSO rule. 62 Fed. Reg. 11779 at 11788 (to be codified at 12 C.F.R. §712.5(g and i)) (proposed March 13, 1997).

Sincerely,

Sheila A. Albin
Associate General Counsel

GC/MSC:sg
SSIC 4660
97-0840

cc: Region II

Last modified on

11/14/24

Credit Union Service Organization CUSO

Footnotes