What are the risks associated with a reverse mortgage and what should I consider?

Reverse mortgages provide income or a line of…

What can I do about a check/share draft that was encoded incorrectly?

Encoding errors are generally handled by…

What do I do if my bill (credit card / personal line of credit / home equity line of credit) is wrong? How do I file a billing dispute?

For any charges that you believe are in error,…

What do we need to submit for a housekeeping amendment to add SEG contractors?

A letter, email, or fax requesting the following…

What do you need to demonstrate ability to serve a rural district? Do you require branches?

NCUA will review and assess the credit union's…

What happens if NCUA approves a community expansion that is under 2.5 million potential members, but future population growth causes the number of potential members to exceed 2.5 million?

The population of a proposed community charter…

What if an underserved area doesn't pass the Depository Institution test because the only facility belongs to the credit union that is requesting the area? The credit union is required to have a facility within the area, but is disqualifying itself.

To address situations like this, the new rule now…

What is a Home Equity Line of Credit (HELOC)?

A HELOC is an open-end line of credit that…

What is a home equity loan?

A home equity loan allows you to tap into your…

What is a payday loan?

Payday loans are generally small-dollar, short-…

What is a reverse mortgage?

A reverse mortgage is a special home loan product…

What is a short-term loan?

Credit unions offer attractive alternatives to…

What is an example of an economic hub and an isolated area?

An economic hub is a geographically compact…

What is an unauthorized charge?

"Unauthorized use" is when someone other than the…

What is meant by “strong dependency relationship” in the new Inclusion of SEG Contractor Rules?

The rule defines a “strong dependency…

What is NCUA?

The National Credit Union Administration (NCUA)…

What is overdraft protection?

Overdraft protection is an agreement with the…

What is skip-a-payment?

Many credit unions offer a skip-a-payment option…

What is the Credit CARD Act? Is there a new law for protection of consumers?

Yes. The Credit Card Accountability,…

What is the cut-off time for deposits?

Credit unions may establish different cut-off…

What is the Home Affordable Modification Program (HAMP)?

The Home Affordable Modification Program (HAMP)…

What is the number for the Letter to Federal Credit Unions providing guidance for the expansion of or conversion to a community chartered credit union?

This guidance is in NCUA’s Letter to Federal…

What is the purpose of NCUSIF?

The NCUSIF protects members’ accounts in…

What should I do if there are unauthorized charges on my account?

You should contact your credit union right away.…

What will happen if the American Bankers Association litigation proceeds against NCUA’s new field of membership rule? How will it impact approvals?

NCUA is implementing the final rule. It is NCUA…