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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.

Notary Public Services

97-0428 / May 1997

Notary Public Services

Subject

Operations

Historic Status

Non-historic

Yvonne Marshall, Manager
Firestone Lake Charles
Federal Credit Union
P.O. Box 859
Sulphur, LA 70664-0859

Re: Notary Public Services (Your Letter of April 21, 1997)

Dear Ms. Marshall:

You have asked whether it is permissible for your federal credit union (FCU) to divide the fees collected for notarial services provided to members by an FCU employee between the employee and the FCU. The FCU paid for the notary public course and books; the employee paid for the requisite bond, insurance and filing fees.

Absent a state law prohibiting such arrangements, this arrangement is permissible. Neither the Federal Credit Union Act nor NCUA's Rules and Regulations address employment practices of this nature. We suggest that you consult with your own attorney regarding whether this is permissible under state law. You may also want to consult with the state or local office or agency that licenses notaries.

Sincerely,

/s/

Sheila A. Albin
Associate General Counsel

GC/MSC:sg
SSIC 4060
97-0428

Last modified on

11/14/24