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. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. To reduce the risk of default on loans members of the credit union shall the joint guarantee. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union.