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. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Unlike banks credit unions limit their activities to a closed circle of people. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.