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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.
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.

Director Appointments

98-0446 / May 1998

Subject

Bylaws

Historic Status

Non-historic

p George J. Anetakis, Esquire
337 Penco Road
Weirton, West Virginia 26062-3828

Re: Director Appointments, Your letter dated April 24, 1998.

Dear Mr. Anetakis:

You have asked whether it is permissible for a former federal credit union (FCU) director, who is currently serving on the board of the FCU's wholly owned Credit Union Service Organization (CUSO) to resign from the CUSO board and return to the FCU board to fill a newly created position. We have no legal objection to a former CUSO director being appointed to serve on the FCU's board but would note that the director must run for election at the next annual meeting. FCU Bylaws, Article VII, Section 3.

Sincerely,

/s/

Sheila A. Albin
Associate General Counsel

GC/MFR:bhs
SSIC 3700
98-0446

Last modified on

11/14/24

Director Appointments

Footnotes