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Mica talks CU strength safety in radio blitz
WASHINGTON (10/8/08)—Credit Union National Association (CUNA) President/CEO Dan Mica hit the airwaves Tuesday in a radio tour where he emphasized credit union soundness and strength amid today’s credit crisis and reminded listeners that virtually all credit unions have federal deposit insurance. Mica conducted interviews with more than a dozen radio stations in major markets around the country, including CBS Chicago, one of the biggest financial news shows in the country, and Marketwatch radio, which airs nationally. Other cities covered include New York, Boston, Kansas City and Pittsburgh.
Click to view larger image During a radio interview via telephone with Chicago's WBBM AM 780, CUNA President/CEO Dan Mica in his Washington, D.C., office touts credit union safety, soundness, and federal insurance. (Photo provided by CUNA)
A key point Mica stressed is that credit unions have been part of the solution for borrowers in today’s economy, making loans responsibly. He noted that lending has soared at credit unions since the beginning of the year. Mica also pointed out that the new financial rescue bill signed into law last week raises the level of federal deposit insurance at credit unions as well as banks from $100,000 to $250,000. “Consumers must understand that there are no significant differences in the level of federal deposit insurance coverage at a credit union or a bank,” he explained. The radio blitz is part of a concerted effort by CUNA and state credit union leagues to educate consumer about credit union strength and safety. Last week CUNA distributed a pre-recorded radio news release featuring Mica’s comments on that subject that so far has aired on nearly 200 stations.
Audio file: click to hear CUNA's Dan Mica explain credit union safety, soundess, vitality during economic downturn on Chicago's WBBM radio.


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