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Pa. banking secretary at budget hearing CUs are healthy
HARRISBURG, Pa. (2/20/09)--Pennsylvania Secretary of Banking Steve Kaplan made it a point to include credit unions in responding to questions during a budget hearing for the Department of Banking, says the Pennsylvania Credit Union Association (PCUA). In responding to questions on credit cards, payday lending, the state of state-chartered banks and credit unions, Kaplan reassured the committee that all state-chartered credit unions and banks are safe, sound, and healthy (Life is a Highway Feb. 19). He also reiterated the new deposit insurance limits for banks and credit unions. Kaplan assured the committee that credit unions are healthy, but also alluded to the corporate credit union issues, adding that the corporates have been affected indirectly, like all financial institutions, said PCUA. Christina Mihalik, vice president of governmental affairs at the PCUA, attended the hearing.
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