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Building Communities – One Member At A Time
The following links to government websites may be helpful as you investigate the financial tools available to you.
As not-for-profit depository institutions, credit unions were created to serve members as credit cooperatives.
In the United States, credit unions are not-for-profit organizations that exist to serve their members rather than to maximize corporate profits.
Once you select a specific credit union, you can view more details about that credit union, including contact information, branch locations, services offered, and recent financial statements.
Anybody can join a credit union. Each credit union serves what’s called their “field of membership” – that’s the commonality between the members.
If your group is eligible, NCUA's staff will assist you with preparing an application for a charter and see that your group receives guidance in getting your federal credit union started.
Because credit unions are not-for-profit financial institutions, their focus is serving the financial needs of their members and not making a profit.
In general, credit unions offer higher savings rates, meaning that your money grows faster, and lower rates on loans, meaning that you will owe less over the lifetime of the loan.
NCUA makes financial information about credit unions available to the public through Financial Performance Reports (FPRs).
Credit unions provide valuable access to financial services for people underserved and unserved by traditional financial institutions.
Federally-chartered credit unions are regulated by the National Credit Union Administration and insured by the National Credit Union Share Insurance Fund, which is backed by the full faith and credit of the United States government.
A federal credit union is a cooperative financial institution chartered by the federal government and owned by individual members.
In this section, you can compare interest rates available at banks and credit unions, learn how credit unions differ from banks, and find, research, and join a credit union in your area. You can also learn more about the history of how credit unions developed and how they are insured today.
Federally-insured credit unions offer a safe place for you to save your money, with deposits insured up to $250,000, per individual depositor.
It’s a good idea to monitor your credit score on a regular basis to make sure that the information is accurate. You can also verify that no one has stolen your identity to make fraudulent charges.
When performing transactions on your credit union's website, it's wise to make sure that the website is legitimate and that your deposits are federally insured.
If you believe that someone has stolen your identity, you should contact any credit union, bank or creditor where you have an account that you think may be the subject of identity theft.
NCUA reports on frauds and scams aimed at credit union members. In this section, we provide an overview of recent activity.
Credit unions offer young adults desirable, affordable financial services, as well as the advantage of personal service developed to help them grow their savings. Many credit unions offer services within schools or have student-run branches.
Learn about the history of money, different currencies used around the world, the power of dividends and how to be smart about preparing for your financial future with Pocket Cents from NCUA.
Federal privacy laws give you the right to stop (opt out of) some sharing of your personal financial information. The law permits your financial companies to share certain information about you without giving you the right to opt out.
In this section, you will find consumer protection information that will prepare you to protect your savings. Learn your credit score, prevent identity theft, avoid frauds and scams, understand your privacy rights, and conduct safe financial transactions online.
Bill payer services, or debt consolidation services, can help consumers preserve their credit scores by merging debts and establishing a workable schedule to pay down money owed to creditors through a single monthly payment.
It's important to know how to make a smart deal. Your credit union can discuss car loan options with you.
Read your statement carefully for information about how long it would take to pay off your account balance if you only pay the minimum payment. It can take years, even decades, to pay it off.
Once you are ready to buy a home, consult your credit union about competitive interest rates and to find out about your mortgage options, including the term of the loan and the conditions.
NCUA encourages credit unions to work constructively with residential mortgage borrowers who may be unable to meet their contractual payment obligations.
Between longer life expectancies and fewer employers offering traditional pension plans, it’s a good idea to take an active role in planning for retirement.
Whether you are saving for your own education or for your children’s, it’s wise to start planning for college as soon as possible.
Payday loans (a.k.a. deferred advance loans, cash advance loans, check advance loans, post-dated check loans, or deferred deposit check loans) are loans borrowers promise to repay from their next paycheck or salary deposit.
In this section, you can learn how deposits in federally-insured credit unions are protected up to $250,000. Read more about bill payer services, car loan options, paying off credit cards, how to secure and modify a home mortgage, and tips for preparing for retirement.
Grants, scholarships and loans will likely be part of how you will pay for college. With tens of billions of dollars of financial aid available every year, some of that aid could be yours. It’s important to know what’s available to you.
You can adjust variables, including number of payments, principal, and interest rate, to determine your monthly payment.
Compare the monthly payments and the amount of equity you will build in your home for several kinds of fixed and adjustable rate mortgages.
This worksheet will help you understand where you can be flexible each month.
The Social Security Administration’s Retirement Estimator calculator will provide estimates based on your actual Social Security earnings record.
The Electronic Share Insurance Calculator (E-Calculator) helps credit union members calculate their coverage under National Credit Union Share Insurance Fund.
In this section, you can find links to helpful financial calculators and worksheets, including the Share Insurance eCalculator, to see how your federally-insured savings are protected by NCUA, as well as saving for college, buying a home, preparing for retirement, and developing a sound monthly budgeting strategy.
Welcome to MyCreditUnion.gov, a free website resource for consumers brought to you by NCUA. We hope you’ll take advantage of this site and all of the financial literacy information available here to help you make better choices for your money.
Here, you can read about financial tips provided by members of the NCUA staff, including how to protect yourself from financial scams and how to take advantage of new offerings at credit unions.
Established in 2010 to better protect the 91 million Americans who belong to credit unions, the Office of Consumer Protection includes the Division of Consumer Compliance and Outreach and the Division of Consumer Access.
NCUA's Ombudsman investigates credit union complaints and recommends solutions. These complaints must relate to regulatory issues that cannot be resolved at the operational (regional) level.
The Freedom of Information Act (FOIA), is a federal statute that allows any person to obtain records of a federal agency. NCUA provides information about credit unions to the public, including a credit union directory and financial performance reports that may be useful for prospective members in evaluating a credit union.
The Open Government page will serve as NCUA’s gateway for agency activities related to the goal of creating a more open government.
Read the latest regulatory news from NCUA.
In this section, you can learn more about the National Credit Union Administration, which insures the savings of 91 million members of credit unions across the United States. Find financial tips from NCUA staff, meet the NCUA Ombudsman, and access public information about credit unions.
The National Credit Union Administration shows you how credit unions can help you get where you want to go, from getting favorable interest rates on your next purchase to saving for the future.
NCUA helps consumers answer questions about their credit unions.
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The Earned Income Tax Credit (or EITC) is a federal income tax credit specifically for low-income working families. Taxpayers who qualify and claim the credit could pay less federal tax, pay no tax or even get a tax refund.
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Resources are available for individuals who need assistance preparing their tax returns, including free tax preparation services for those who qualify. In addition, the Internal Revenue Service (IRS) offers a wide range of free tax help services.
Low-income credit unions will soon be able to apply for a grant program called the Financial Education and Financial Literacy Initiative, available through NCUA’s Office of Small Credit Union Initiatives.
To join a credit union, potential members must be part of a field of membership, which is typically based on one’s employment, community, where one worships, or membership in an association or organization. For more information on joining a credit union in your area, check out the Find a Credit Union utility.
Parents often hear that they should begin saving early for their children's college educations, but it can be tricky to know how to get started. You may have heard about 529 plans as one option. A 529 plan is a tax-advantaged savings plan designed to encourage saving for future college costs. States, state agencies, or educational institutions sponsor 529 plans, which are legally known as "qualified tuition plans."
Helping young americans learn how to start saving and planning today for a stronger and brighter future
Backed by the full faith of the U.S. Government, NCUA insures the savings of 91 million members in all federal credit unions and many state-chartered credit unions.
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Watch a video welcome message from Debbie Matz, the Chairman of the board of the National Credit Union Administration, as she introduces the consumer protection resources available on MyCreditUnion.gov.
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Learn more about credit unions, how they serve members and the NCUA's role in protecting your interests.
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