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CU System
More leagues join CUNA to reassure members of soundness
MADISON, Wis. (7/22/08)--Several more credit union leagues have joined the Credit Union National Association (CUNA) and credit unions in reassuring credit union members that their deposits are safe. The Indiana Credit Union League has released a statement with information about credit unions’ safety, including facts about Indiana credit unions. John McKenzie, league president, also sent letters to credit union CEOs with background on the safety and soundness issue, Kay Neidlinger, vice president of league communications, told News Now. The Credit Union Associations of Colorado and Wyoming sent memos to its credit unions about the issue. It is offering two free webinar sessions on National Credit Union Administration Share Insurance Thursday and on July 30. The hour-long sessions will provide information on share insurance rules and teach attendees how to calculate coverage on member accounts. The association also sent a media alert with background information on the states’ credit unions and their capital. Overall, Colorado and Wyoming credit unions are well-capitalized which means they are able to weather problems caused by the current economic crisis, the association said. Sample newsletter articles and talking points also were produced and sent to local media, the association said. CUNA President/CEO Dan Mica Monday sent out an update with information on how it is spreading the word on credit unions’ safety and soundness. CUNA has contacted national media outlets, such as CNN, USA Today and Fox Business Network and sent letters to members of Congress. It also sent out talking points and resources for credit unions to use when reassuring their members and communicating with local media. CUNA’s NewsWatch also is putting together a special edition highlighting the safety and soundness of credit unions.
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