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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.

Nonstandard Bylaw Amendment

97-0424 / April 1997

Subject

Bylaws

Historic Status

Non-historic

TO: [redacted]

FROM: Sheila A. Albin, Associate General Counsel

SUBJ: Nonstandard Bylaw Amendment (Your April 7, 1997, Memorandum)

DATE: April 28, 1997

You have requested a legal opinion on a proposed nonstandard bylaw amendment submitted by [redacted] Federal Credit Union. The proposed amendment would limit employees of the federal credit union (FCU) from serving on the board of directors for a period of two years following their employment. As explained in the attached November 20, 1991, letter from Hattie M. Ulan, Associate General Counsel to Louis R. Ravetti, President, the proposed amendment is not permissible because it serves as an absolute bar against an FCU member running for and serving on the board, in conflict with the FCU Act.

GC/MFR:bhs
SSIC 6100
97-0424

Enclosure

Last modified on

11/14/24

Nonstandard Bylaw Amendment

Footnotes