Doco Credit Union history

In February 1966, the Bureau of Federal Credit Unions, along with other federal agencies launch Project Moneywise (opens new window), an initiative to expand credit union services into low- to moderate-income areas across the country and improve the financial well-being of these communities.

March 10, 1970 – NCUA, National Credit Union Administration is formed to supervise federal credit unions.

1977 – Laws allow credit unions to begin offering new services, including mortgage lending and share certificates.

July 18, 1984 – The Deficit Reduction Act of 1984 is signed into law recapitalizing the National Credit Union Share Insurance Fund, which had been experiencing financial stress for several years.

1994 – The Washington D.C. District Court rules that NCUA’s policy of allowing for multiple groups in one field of membership is allowed under the Federal Credit Union Act.

Renamed the Asset Management and Assistance Center in 1996, it also provides training to both NCUA and state credit union examiners.

1997 – The United States Supreme Court agrees to hear the NCUA’s appeal of the Appeal Court’s ruling.

February 25, 1998 – The Supreme Court rules that federal occupation-based credit unions must consist of an occupational group having a single common bond.

A former Congressman, D'Amours serves as Chairman until 2000.

He serves as NCUA Chairman until 2004.

9, 2008 – The NCUA Board approves the creation of the Credit Union System Investment Program and the Homeowners Affordability Relief Program to help credit unions weather increasing financial stress.

2009 – Marks the 75th anniversary of the FCU Act.

July 21, 2010 - President Obama signs into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 335 of the Dodd-Frank Act amends the FCU Act to make permanent the standard maximum share insurance amount (SMSIA) of $250,000.

June 20, 2011 – The NCUA becomes the first federal financial institutions regulator to file suit in federal court against Wall Street firms to recover losses from sales of faulty mortgage-backed securities.

July 6, 2012 – The NCUA closes Western Bridge Corporate Federal Credit Union

6, 2013 – To reduce regulatory burdens, NCUA changes the definition of a small, non-complex credit union to those entities with less than $50 million in assets, up from the prior $10 million in assets threshold.

26, 2014 – J. Mark McWatters is sworn in as a member of the NCUA Board.

18, 2016 – The NCUA Board approves a final rule that changes the agency’s regulations governing member business lending and provides credit unions with greater flexibility to make commercial lending decisions.

March 16, 2020 – The NCUA issues a Letter to Credit Unions that outlines several strategies credit unions may consider when determining how to address the challenges associated with COVID-19.