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About
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.
Analysis
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.
Support Services
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.
News
News
Stay up to date on the NCUA's activities by subscribing to the NCUA's Express messages. Read press releases, speeches, testimony, and Annual Reports. Register for upcoming conferences and events.
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.

Mutual Conversions

97-1017 / October 1997

Mutual Conversions

Subject

Chartering/Field of Membership

Historic Status

Non-historic

Brendan Bridgeland, Research Assistant
1130 Massachusetts Avenue
2nd Floor
Cambridge, MA 02138

Re: Mutual Conversions
Your E-Mail dated October 1, 1997

Dear Mr. Bridgeland:

You have requested copies of the history, comments and draft regulations relating to the National Credit Union Administration's (NCUA's) regulations concerning a credit union converting to a stock company. On March 8, 1995, the NCUA Board passed a final regulation addressing the conversions of credit unions to non credit union institutions. 12 C.F.R. Part 708a. Attached for your information are the Federal Register copies of the proposed rule, the interim final rule and the final rule. 59 FR 33702 (June 30, 1994), 59 FR 48790 (September 23, 1994) and 60 FR 12659 (March 8, 1995). These documents discuss the history and comments leading up to the final rule.

Sincerely,

Sheila A. Albin
Associate General Counsel

GC/MFR:bhs
SSIC 3000
97-1017

Last modified on

11/14/24