Which organization manages the NCUSIF, the insurance fund for deposits in credit unions?

Which organization manages the NCUSIF, the insurance fund for deposits in credit unions?

• A. Federal Reserve
• B. FDIC
• C. NCUA
• D. SEC

Answer: (C)

NCUSIF is the insurance fund for credit union deposits, and it’s managed by the National Credit Union Administration. This independent federal agency regulates, charters, and supervises credit unions and administers the NCUSIF to protect members’ accounts, much like the way the FDIC protects bank deposits. The other organizations serve different roles: the Federal Reserve handles monetary policy and payments systems, the FDIC insures bank deposits (not credit unions), and the SEC regulates securities markets. So the agency responsible for NCUSIF is the NCUA.

NCUSIF is the insurance fund for credit union deposits, and it’s managed by the National Credit Union Administration. This independent federal agency regulates, charters, and supervises credit unions and administers the NCUSIF to protect members’ accounts, much like the way the FDIC protects bank deposits. The other organizations serve different roles: the Federal Reserve handles monetary policy and payments systems, the FDIC insures bank deposits (not credit unions), and the SEC regulates securities markets. So the agency responsible for NCUSIF is the NCUA.