are state credit unions regulated by any government agency?
With the backing of the full faith and credit of the U.S. government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 105 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. National Credit Union Administration. The National Credit Union Administration (NCUA) is the independent federal agency created by the United States Congress to regulate, charter, and supervise federal credit unions. The Department does not regulate national banks (examples: Bank of America, Wells Fargo, Chase, Citibank, PNC) or federal credit unions, whether operating in Georgia or elsewhere. Credit unions offer many of the same financial services as banks, but often using a different terminology; common services include share accounts (savings accounts), share draft accounts (checking accounts), credit cards, share term certificates (certificates of deposit), and online banking. NCUA Issues Updated Guidance on Compliance Risk Indicators. 1  NCUA has recently provided its examiners with guidance on the updated list of compliance risk indicators that are part of NCUA’s Risk-focused Examination Program. The updated list of indicators does not impose any new or higher supervisory expectations for credit unions. Home » About Us. The Georgia Department of Banking and Finance (Department) is the state agency that regulates and examines Georgia state-chartered banks, state-chartered credit unions, and state-chartered trust companies. Personal finances and building financial security will be the focus of the National Credit Union Administration’s April 18 Twitter chat, part of the agency’s activities during Financial Capability Month. The Twitter chat, scheduled for Tuesday, April 18, beginning at 11 a.m. In the United States, credit unions incorporated and operating under a state credit union law are tax-exempt under Section 501(c)(14)(A). Federal credit unions organized and operated in accordance with the Federal Credit Union Act are tax-exempt under Section 501(c)(1). A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. Their role in business and industry are important to the economy and to our own personal well-being. Maintaining the integrity of financial services remains our primary mission as the industry continues to grow. The Credit Union Division of DBO licenses and regulates state-chartered credit unions. The Credit Union Division is charged with the execution of the laws of this state relating to credit unions or the credit union business. As a result, the Credit Union Division conducts periodic examinations of all California state licensed credit unions.
No, state credit unions are supervised by the independent federal agency created by the United States Congress,  National Credit Union Administration(NCUA)