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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.

Source of Funds and Other Support

Source of Funds and Other Support

You must ensure the level of funding and support is sufficient to operate the credit union by providing services deemed important by the members, as reflected in the membership survey. The PFCU’s financial projections should include all monetary support and subsidies that are detailed in this section of the business plan. Support can come from any source(s), for example:

A sponsor;
An organizer;
An individual;
A community group or organization;
A mentor credit union; or
Another financial institution.

Support can be in the form of:

Grants or donations for capital;
Non-member deposits;
Donated equipment;
Free or low-cost office space or services; or
Any other in-kind donations or subsidies.

Each supporter’s assistance should be explained in detail, including:

What amount or type of support will be provided;
When the support begins and ends;
Whether the assistance is to be repaid; and
Whether there are any other terms or conditions.

Ensure all commitments being relied upon and used to support the financial projections are in writing. Commitments may be in the form of letters, draft contracts, or any other such document substantiating the PFCU’s projections, accompanied by financial statements or similar documentation from the supporter(s) demonstrating their ability to meet the commitment. A sample commitment letter is located here.

The NCUA will review the documentation of the donors’ ability to fund their donated capital commitment or proof of deposit if the donation has already been made. Bank statements or audited financial statements are typically provided to show proof of ability to fund.

Last modified on

04/14/22