Which of the following statements about the NCUA is correct?

The NCUA (National Credit Union Administration) is a federal agency that insures deposits at federally insured credit unions, much as the FDIC insures deposits at banks. It is not part of the FDIC, an independent coalition, or the agency that controls how much banks can lend. Therefore, the correct statement is that the NCUA is similar to the FDIC but insures credit unions instead of banks.

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