Consumer Financial Protection & Financial Literacy Resources

Office of Consumer Financial Protection

The National Credit Union Administration (NCUA)

• Independent federal agency
• Regulates, charters and supervises federal credit unions
• Manages the National Credit Union Share Insurance Fund
• Insures the deposits of account holders in all federal credit unions and majority of state-chartered credit unions
• March 10, 1970: The NCUA became an independent federal agency to supervise federal credit unions and insure member deposits.

The Office of Consumer Financial Protection 

• Helps protect and empower credit union members and consumers
• Educates consumers to make smarter financial decisions
• Promotes consumer access to credit unions
• Coordinates with other government agencies on consumer financial protection issues

Division of Consumer Affairs

Responsibilities:

• The NCUA’s Consumer Assistance Center
• Consumer inquiries and complaints
• Financial literacy and outreach efforts
• The NCUA’s consumer website MyCreditUnion.gov Share insurance inquiries

Division of Consumer Compliance Policy and Outreach

Responsibilities:

• Consumer financial protection compliance policy
• Rulemaking
• Fair lending examinations and compliance

What Is a Credit Union?

Credit unions are not-for-profit cooperative organizations that exist to serve their members. Credit union members often have shared interests and appreciate participating in an institution designed to help other members. 

Think of it this way: One member’s savings becomes another member’s loan.

Personal service

• Member education
• Financial planning
• Financial counseling

Convenience

• Mobile banking
• Online banking
• Direct deposit
• Checking & savings
• Overdraft protection
• Remote check deposits

Community involvement

• Financial education and outreach to consumers
• Credit unions in schools
• Small business needs

Loans to meet your needs

• Auto loans
• Mortgage & home equity loans
• Business loans
• Personal or signature loans

Accessibility

• ATMs
• Shared branching network

Generally credit unions offer the financial services listed here. Contact the credit union directly for availability of product and service offerings.

Member focused

Members share a common bond. You may be able to join based on your employer, family, geographic location or membership in a group.

Member-owned

Credit unions are owned and controlled by the people, or members, who use their services. Your vote counts. A volunteer board of directors is elected by members.

Competitive rates and reduced fees

Earnings made by credit unions are returned back to members in the form of reduced fees, higher savings rates and lower loan rates.

Insured funds

The National Credit Union Share Insurance Fund provides individual depositors up to $250,000 in coverage at each federally insured credit union.

Did you know?

• For more than 100 years, U.S. credit unions have provided financial services to their members.
• Over 110 million credit union members nation-wide.

What Online Tools and Resources Does the NCUA Offer?

MyCreditUnion.gov

The NCUA’s official consumer protection website, MyCreditUnion.gov provides financial literacy resources and tools to help consumers learn how to make smarter financial decisions for a stronger, brighter future. Visit MyCreditUnion.gov for:

• Answers to common questions regarding federal consumer financial protection matters 
• Help locating a federally insured credit union
• Financial literacy tools and resources to help you manage your finances
• The NCUA’s Consumer Assistance Center to ask questions or file a complaint with the NCUA about a credit union

Available in English and Spanish.

Fraud Prevention Center

Each year scam artists and identity thieves steal billions of dollars from unsuspecting consumers. Learn how to recognize common scams, take action if you think you are a victim of fraud, and what you can do to protect your finances from fraud through the NCUA’s Fraud Prevention Center on MyCreditUnion.gov. 

Available in English and Spanish.

Share Insurance Estimator

Calculate the amount of your insured funds at a federally insured credit union using the NCUA’s Share Insurance Estimator. The Estimator can be used for personal, business or government accounts. Personal accounts include individual ownership, joint ownership, payable-on-death (accounts with named beneficiaries), living trusts and IRAs. The Estimator also includes an extensive Glossary of Terms and Frequently Asked Questions. Check it out at: MyCreditUnion.gov/estimator

Available in English and Spanish.

Credit Union Locator

The NCUA’s online tool helps consumers find a credit union’s:

• Address
• Phone number
• Website
• Services offered
• Driving directions

Visit Go.USA.gov/9nBH

Download the free mobile app on the App Store & Google Play.

Interactive Financial Learning Tools

World of Cents World of Cents is a fun and engaging kid-friendly game for ages 5–10, designed to help teach the value of money through the concepts of earning, saving and spending money, while incorporating basic math concepts.

Available on MyCreditUnion.gov. Download for free in the App Store and Google Play.

Hit the Road

Hit the Road, a financial adventure game, helps teach young people ages 10–15 about the importance of saving and spending wisely.

Available on MyCreditUnion.gov in English and Spanish.

The NCUA Consumer Assistance Center

What does the Consumer Assistance Center do?

• Provides answers to questions about federally insured credit unions, financial issues and your federal consumer financial protection rights. Visit MyCreditUnion.gov/consumer-assistance-center for frequently asked questions.
• Assists consumers in resolving disputes with credit unions and providing information about federal consumer financial protection and share insurance matters. Visit MyCreditUnion.gov/consumer-assistance-center or call 800-755-1030 for more information.

How can I resolve an issue with a credit union or file a complaint?

1. First, contact the credit union to attempt to resolve the issue.
2. If unable to reach a resolution, escalate the issue to the president or CEO of the credit union. 
3. Submit a complaint with the NCUA Consumer Assistance Center.

Did you know?

Over 250+ FAQs answered on the NCUA Consumer Assistance Center’s “Find an Answer” section.

Consumer Videos & Social Media NCUA Consumer Reports

Short videos designed to help consumers understand important consumer financial protection and personal finance topics.

Available on MyCreditUnion.govor YouTube/NCUAchannel

The series covers various financial topics, including but not limited to:

• Building financial stability
• Avoiding frauds, scams and cyberthreats
• Improving financial planning
• Learning how credit union accounts are federally insured
• Understanding federal mortgage lending protections
• Understanding payday loans
• Detecting elder financial abuse

View the NCUA’s free financial education video series on YouTube/NCUAchannel

Social Media Links

Follow us! Connect with the NCUA’s consumer Twitter feed today for daily financial tips on education, money management, saving, retirement, homeownership and more. @MyCUgov

• LinkedIn: NCUA
• Facebook: NCUAgov
• NCUA Express
• YouTube: NCUAchannel
• RSS: www.ncua.gov/Pages/rss.aspx

Financial Education Topics Available at MyCreditUnion.gov

• Starting a Savings Plan
• Credit Reports and Scores
• Frauds and Scams
• Privacy Rights
• Retirement
• Dealing with Debt
• Buying a Car
• Paying off Credit Cards
• Homeownership and Mortgage Options
• Mortgage Modifications
• Preparing for Retirement
• Saving for College
• Payday Loans
• Servicemember Resources
• Credit Unions in Schools

Credit unions encourage their members to save regularly to build economic security for themselves and their families. Federally insured credit unions offer a safe place for you to save your money, with deposits insured up to at least $250,000 per individual depositor.

Federal consumer financial protection laws apply to credit unions. These laws include the Equal Credit Opportunity Act, which requires credit be made available to members without regard to sex, marital status, race, national origin, religion, age or any other prohibited basis.