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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.
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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.
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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.
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.
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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.

Supervisory Guidance on Private Student Loans

13-CU-15 / December 2013

Supervisory Guidance on Private Student Loans

To

Federally Insured Credit Unions

Subject

Student Loans

Status

Active

To

Federally Insured Credit Unions

Subj

Supervisory Guidance on Private Student Loans

Encl

Dear Board of Directors and Chief Executive Officer:

Private student loan (PSL) products are an important component of higher education finance. Rising education costs, flat household income, and the growing gap between financial aid and federal coverage for student costs have led to a growing demand for these products to meet consumers’ needs. With sound processes and controls in place, private student lending can provide a valuable service to members and generate income for credit unions.

NCUA has observed steady growth in the PSL market since the agency began collecting Call Report data on these loans in December 2011. PSLs are unlike other consumer-based loan products, and it is critical that credit unions have sound processes and controls in place to address their unique characteristics and risks.

NCUA has developed the enclosed Supervisory Letter to clarify the agency’s supervisory expectations about direct and indirect PSL products.

I encourage you to review this letter and to contact your regional office or state supervisory authority if you have any questions on this subject.

Sincerely,

/s/

Debbie Matz
Chairman

Enclosures

Last modified on

10/27/20