BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Member deposits into credit unions are insured by which of the following organizations?
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National Credit Union Agency (NCUA)
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Federal Deposit Insurance Corporation (FDIC)
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Federal Reserve (FED)
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US Treasury Department (USTD)
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Explanation:
Detailed explanation-1: -Created by the U.S. Congress in 1970, the National Credit Union Administration is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions.
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