NEW: $250K NCUSIF coverage now effective
WASHINGTON (10/3/08, UPDATE 3:30 p.m. ET)--Today's passage of the Emergency Economic Stabilization Act of 2008 will require the National Credit Union Administration (NCUA) to immediately increase share insurance protection to $250,000 on all types of accounts until Dec. 31, 2009.
President George W. Bush this afternoon signed the economic rescue package passed by the House today.
NCUA said it is reviewing all share insurance coverage materials included on the Internet Share Insurance Tool Kit, such as the "Your Insured Funds" brochure and print advertisement, to make needed revisions.
Revised documents reflecting $250,000 coverage will be posted to the NCUA website as soon as possible, according to the agency.
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