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

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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.

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.



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	News Now LiveWire Most CUs will provide wage increases for at least some of their employees, according to CUNA's just-released Small CU Staff Salary Survey. 6 hours ago St. L Post Dispatch on GAO report:Consumers may not benefit from altering Interchange system;would cut card competition. http://ow.ly/ETyX 7 hours ago CUNA's Hampel: Consumer holiday spending will be up slightly from last year. See Tues NN. 11 hours ago NCCUL and WOCCU met with Romanian CUs this week. The CUs are experiencing growth and want to increase their public relations efforts. 3 days ago Kent Buckham has been named by NCUA as director of the newly created Office of Consumer Protection. The 7-person dept. launches in Jan. 3 days ago Sign up; more tweets... 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 Click to play about the financial rescue plan wending its way through the Congress. The CUNA leader was introduced as "somebody who actually has been on Capitol Hill all week long speaking with congressional leaders behind the scenes." 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 More Washington
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