National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members.