National Credit Union Share Insurance Fund
The National Credit Union Share Insurance Fund (NCUSIF) is administered by the National Credit Union Administration (NCUA) for the purpose of providing deposit insurance to protect deposits of credit union members at insured institutions in the United States. It was created in 1970 shortly after the creation of the NCUA as an independent regulator of credit unions. The NCUSIF is funded completely by participating credit unions, and no taxpayer dollars have ever been used to bail out a credit union. The NCUSIF is backed by the full faith and credit of the United States government.
As of 31 December 2007 the fund had a balance of $7.3 billion and insured nearly 87 million accounts at 5,036 federal credit unions and 3,065 state-chartered credit unions.
Read more about National Credit Union Share Insurance Fund: Funding, Premiums and Dividends, NCUSIF Insured Accounts
Famous quotes containing the words national, credit, union, share, insurance and/or fund:
“[Wellesley College] is about as meaningful to the educational process in America as a perfume factory is to the national economy.”
—Nora Ephron (b. 1941)
“Truth lives, in fact, for the most part on a credit system. Our thoughts and beliefs ‘pass,’ so long as nothing challenges them, just as bank-notes pass so long as nobody refuses them.”
—William James (1842–1910)
“I not only rejoice, but congratulate my beloved country Texas is reannexed, and the safety, prosperity, and the greatest interest of the whole Union is secured by this ... great and important national act.”
—Andrew Jackson (1767–1845)
“To recover a buried treasure without having it disappear miraculously in the process, one must be entitled to it, and also be willing—really willing deep in his heart—to share it with the poor and helpless. Buried money, especially silver, gives off a bright glow which comes right up through the earth and can be seen as a dim light on nights when the weather is misty or there is a gentle rain.”
—Administration in the State of Ariz, U.S. public relief program (1935-1943)
“The Republican convention, an event with the intellectual content of a Guns’n’Roses lyric attended by every ofay insurance broker in America who owns a pair of white shoes.”
—P.J. (Patrick Jake)
“School success is not predicted by a child’s fund of facts or a precocious ability to read as much as by emotional and social measures; being self-assured and interested: knowing what kind of behavior is expected and how to rein in the impulse to misbehave; being able to wait, to follow directions, and to turn to teachers for help; and expressing needs while getting along with other children.”
—Daniel Goleman (20th century)