What federal agency supervises federal credit unions and provides insurance for savings?

The National Credit Union Administration (NCUA) is the correct answer because it is the federal agency explicitly designated to supervise and insure federal credit unions. This agency plays a crucial role in maintaining the safety and soundness of the nation's credit union system. The NCUA provides insurance for savings at federally insured credit unions, protecting depositors' funds up to a certain limit, similar to the FDIC's role in the banking sector.

By overseeing the operations of federal credit unions, the NCUA ensures compliance with federal laws and regulations, which contributes to the overall stability of the financial system serving millions of members across the country. The agency also promotes member education and supports community development through credit unions, enhancing the financial environment for consumers.

Other federal agencies mentioned do not hold the same responsibilities in relation to federal credit unions or their insurance. The Federal Trade Commission focuses on consumer protection and antitrust laws, the Federal Deposit Insurance Corporation manages the insurance for banks rather than credit unions, and the Consumer Financial Protection Bureau primarily addresses consumer protection in financial products and services but does not oversee or insure credit unions.