Question

Which of the following statements about the NCUA is correct?
a.
The NCUA is similar to the FDIC, but it insures credit unions instead of banks.
b.
The NCUA is an independent coalition of credit unions that works to protect investors.
c.
The NCUA is the branch of the FDIC that insures credit unions.
d.
The NCUA controls the amount of money banks have available to lend out.

Answer 1

a.

The NCUA (National Credit Union Administration) is an independent federal agency that insures deposits at federally insured credit unions (via the National Credit Union Share Insurance Fund), similar to how the FDIC insures bank deposits.