The NCUA was created by Congress in 1970 to regulate federal credit unions and insure deposits at all federally insured credit unions. It's like the FDIC, but for credit unions instead of banks. The NCUA insures up to $250,000 of deposited money as safe in the event of a federally insured credit union going under
The emigrants so involved were called "indentured servants." It has been estimated that fully one-half of the immigrants to the colonies south of New England came to America under this system. Usually they fulfilled their obligations under the contracts faithfully.
