News Now LiveWire

Australian CUs have experienced strong growth in retail deposits at the expense of their regional banking rivals. http://ow.ly/goIE 2 days ago

Yakima Valley CUs have benefited from larger banks troubles as membership, deposit growth, and overall presence expand. http://ow.ly/goHD 2 days ago

Florida Central CU names CUNA board member Laida Garcia as president, CEO. Garcia succeeds the late Ed Gallagly. See http://ow.ly/gnw7 2 days ago

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Wash. State CUs have seen a 313% mortgage loan increase over the last 10 years, with lower car loan, savings deposit increases. See Mon. NN. 2 days ago

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Mica on FOX TV: CU members' funds are safe, insured

WASHINGTON (9/26/08)—Credit Union National Association (CUNA) President/CEO Dan Mica Thursday again assured a national television audience that federally insured deposits in the nation's credit union system are safe and have the full backing of the U.S. government.

Live on Fox Business News, Mica was queried

Mica was asked whether credit unions are getting "frantic calls" from people worried about the safety of their deposits. The CUNA leader reiterated assurances he has made repeatedly in national news media in recent weeks:

He emphasized that credit unions are federally insured through the National Credit Union Administration (NCUA) just like banks are insured through the Federal Deposit Insurance Corp.

"A lot of people don't know that," Mica warned, and went on to detail how federal credit union insurance coverage matches that offered by the FDIC.

Use the resource link below to hear the entire interview.

Resource Links

Credit Unions Safe and Sound statement stuffer

Credit Unions Safe and Sound drive-up

Your Insured Funds booklet

CUs in the Media