Question

Most credit unions are insured by ________. The deposit insurance rules are the same at these insured credit unions as they are at FDIC insured banks.

a. The National Company Administration of Credit (NCAU).
b. The Network Company United Administration (NCUA).
c. The International Credit Union Administration (INCUA).
d. The National Credit Union Administration (NCUA).

Answer 1

Most credit unions in the United States are insured by the National Credit Union Administration (NCUA). The correct answer is option d: "The National Credit Union Administration (NCUA)."

Step-by-step explanation:

The NCUA provides insurance coverage to protect the deposits of credit union members, similar to how the Federal Deposit Insurance Corporation (FDIC) insures deposits in banks. The deposit insurance rules are indeed similar at NCUA-insured credit unions and FDIC-insured banks, providing a level of protection to depositors in case of financial institution failures.