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How does NCUA determine ownership of funds?

April 26, 2017determine funds NCUA ownership

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How does NCUA determine ownership of funds?

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o The NCUA relies on “account records” of the federally insured credit union to determine how funds are insured. The NCUA may request supplemental documentation to identify relationships between owners and beneficiaries. These documents may be used by the NCUA to confirm that the funds are actually owned in the manner indicated in the credit union’s account records and to determine the amount of insurance coverage.