The entire database is updated when we load data for a current cycle. For example, the database loaded to the website for the June 1999 cycle will include all of the December 1998 data as well. This keeps the database current and allows it to reflect corrections made after the cycle's data was originally posted. A federal credit union is a nonprofit, cooperative financial institution owned and run by its members. Organized to serve, democratically controlled credit unions provide their members with a safe place to save and borrow at reasonable rates.
Members pool their funds to make loans to one another.
The volunteer board that runs each credit union is elected by the members. Not for profit, not for charity, but for service is a credit union motto. For immediate details on forming a federal credit union, Chapter 1 in the NCUA Chartering and Field of Membership Manual can guide you through the steps to organize a federal credit union and the manual includes the necessary forms. The National Credit Union Administration charters federal credit unions. NCUA has six regional offices across the country that charter federal credit unions in the states that they oversee.