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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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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.
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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.

Request for Amendment to Article VI, Section 7

85-0822 / August 1985

Request for Amendment to Article VI, Section 7

Subject

Bylaws

Historic Status

Non-historic

LS/YG:cch
3700
[redacted]
August 22, 1985

FROM: Department of Legal Services

[redacted]

SUBJ: Request for amendment to Article VI, Section 7 of the Federal Credit Union Bylaws by [redacted]

REF : (a) [redacted] memo, [redacted] dated July 16, 1985; same subj., with enclosure

This responds to reference (a) in which you request our opinion on the legality of a proposed bylaw amendment to increase the minimum age for holding elective/appointive office from 18 to 21.
Neither the FCU Act nor the NCUA Rules and Regulations prohibit minimum age requirements for holding elective/appointive offices. Additionally, we find no other legal impediments to enacting the proposed amendment. It appears, therefore, that the issue involves a policy matter to which we defer to your Office.
Please let us know if you require further input from this office.

STEVEN R. BISKER
Assistant General Counsel

Last modified on

11/14/24