Talk:NCUA Corporate Stabilization Program

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Federally insured?

A very fine point. The article says:

(NCUA) ... is responsible for regulating and insuring all federally insured credit unions

The stabilization program is for federally insured credit unions, as I understand it.

However, I think the NCUA regulates all federally chartered credit unions, as well as those state-chartered credit unions that sign up to federal insurance. Are there federal credit unions that do not have federal insurance?

--Hroðulf (or Hrothulf) (Talk) 09:08, 14 February 2009 (UTC)[reply]

Hi there! Yes, the article as written is correct; the NCUA regulates all federally *insured* credit unions. Nearly half of these credit unions are state-chartered, but federally insured. There are three U.S. states that allow a CU to be insured via the state or privately. (I know Ohio is one, and the other two might be Alabama and Mississippi?) The answer to your question is: A credit union that is federally chartered MUST be federally insured. Only state-chartered CUs in those three states have the option to not be insured federally by the NCUA. The number of not-federally insured CUs is very small - probably around 100 or less in total. The NCUA's action applies to all federally-insured CUs, of which there are around 8000. --Mmpartee (talk) 20:43, 19 February 2009 (UTC)[reply]