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 HR 3606 (CARD Act 21-day rule fix) signed into law by president, as was the homebuyer tax credit extension 1 day ago Scam warning: Kennedy Space Center FCU members being targeted via phony text messages by ID thieves in Florida. http://ow.ly/zWCE 1 day ago Financial Stability Improvement Act markup, which began today, will continue after Vets. day, Hse. Fin. Svcs. Chair Barney Frank says. 1 day ago In Mon NN: 24 SE Wisc. CUs will now have control of $71.5M in loans and lender-owned homes after Central States Mtge went into receivership. 1 day ago Detroit Edison Credit Union and NuUnion Credit Union announce their intent to merge http://tinyurl.com/y8bslvg 2 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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