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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.

Identify Subscribers

Identify Subscribers

Section 103 of the Federal Credit Union Act 12 U.S.C. §1753, defines subscribers as any seven or more natural persons who seek to form a federal credit union. Subscribers are responsible for preparing the charter application. A primary point of contact needs to be identified for the NCUA during the chartering process. The primary point of contact may be a subscriber or professional organizer hired or appointed by the subscribers. The function of an organizer is to provide direction, guidance, and advice to the subscribers.

Under section 104 of the Federal Credit Union Act, 12 U.S.C. §1754, subscribers need to undergo an “appropriate investigation” to determine “the general character and fitness of the subscribers thereto.” Officials and senior management employees also are required to undergo an investigation. The officials and senior management employees must complete a Report of Official and Agreement to Serve NCUA 4012 form, which will be submitted in Phase 3.

Documentation Required to Identify Subscribers

The names and contact information for each subscriber will be included in the POC submission in the Subscriber tab. Their anticipated involvement and contribution to the chartering process, including time commitment (number of hours per month) will be documented on the NCUA 4001 form in Phase 2.
Subscribers who also plan to serve on the board, supervisory committee, or credit committee (this committee is optional) or as senior management will be required to complete the NCUA 4012 form. This form will be submitted in Phase 3.
If at any time a subscriber is added or deleted, notify the NCUA of the change immediately.

Last modified on

04/14/22