Which of the following organizations is responsible for insuring deposits in a credit union?
A) FDIC
B) SAIF
C) BIF
D) NCUA
E) FDCU

Question

Quizplus · Accepted Answer

NCUA (National Credit Union Administration) is the federal agency responsible for insuring deposits in credit unions up to $250,000 per depositor, per federally insured credit union. FDIC insures deposits in banks and thrift institutions, SAIF and BIF are two funds under the FDIC that provide insurance protection for deposit accounts in different types of institutions. FDCU is not a recognized organization for deposit insurance.

Which of the Following Organizations Is Responsible for Insuring Deposits