Chartering and regulation of the credit union

In the United States credit unions are charted and regulated at both state and federal levels. Today about 55 percent of all credit unions are charted by the federal government and the remainder by the states. Federal credit unions have been regulated since 1970 by the National credit union (NCUA), an independent agency within the federal government. Deposits are insured by the national credit union share insurance fund (NCUSIF) up to $100,000. State-charted credit union may qualify for federal insurance if they conform to NCUA‘S regulations.