Question

The __________ insures deposits held in credit unions.

a.national credit union administration (ncua)
b.federal credit insurance agency (fcia)
c.federal deposit insurance corporation (fdic)
d.credit union insurance fund (cuif)

Answer 1

the correct answer is "B".federal credit insurance agency (fcia)

Answer 2

The correct answer is A. National credit union administration (NCUA).

The work of ncua issues and regulates deposit of credit union and it is an independent federal agency which supervises, charters, and regulates federal credit unions.

Some advantages of credit union include, access to new technology, membership is restricted, higher saving rates, and fewer fees, and customers are owners.