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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.

Autoland Purchased by Mission Federal

July 2013

Autoland Purchased by Mission Federal

ALEXANDRIA, Va. (July 10, 2013) – The National Credit Union Administration today announced that Mission Federal Credit Union, of San Diego, Calif., has purchased Autoland, a national car-buying service provider.

Autoland, founded in 1971, is a Credit Union Service Organization, or CUSO, based in Chatsworth, Calif., that serves more than 200 credit unions nationwide.

Founded in 1961, Mission is a community-chartered credit union with more than 160,000 members and assets of $2.4 billion, according to its most recent Call Report.

NCUA completed the sale of its interest in Autoland as liquidating agent of the former Telesis Community Credit Union. Telesis purchased Autoland in 2007 and subsequently sold minor interests, retaining a controlling interest.

The California Department of Financial Institutions placed Telesis into conservatorship in March 2012, and appointed NCUA as conservator. The California regulator liquidated Telesis the following May and appointed NCUA liquidating agent. Premier America Credit Union purchased and assumed Telesis’ members, deposits, core facilities and consumer loans at that time. NCUA operated Autoland since conservatorship until today’s sale.

Last modified on

07/31/19