“Your Money Is As Safe and Sound, As Any Deposits in Federally Insured Banks at a Credit Union”

Folks,

I, like many Americans watched President Bush address the country last night on our economic crisis. And as you’ll see from the following article. I too, regretted the fact that he did not mention credit unions. President and CEO of the Credit Union National Association, Dan Mica, says it best, “It’s important for the millions of credit union members across the nation-with billions of dollars saved in their credit unions to know their money is as safe and sound as any deposits in federally insured banks.”

I like to watch what the media says about credit unions. The following is a story that hit the newswires today from Market Watch.com. Please take time to read it and educate yourself about NCUA insurance. Just like the FDIC it’s backed by the full faith and credit of the United States. Happy Reading. And special thanks to Dan Mica, for highlighting the strength and soundness of Credit Unions across America.

http://www.marketwatch.com/news/story/credit-unions-have-federal-savings/story.aspx?guid=%7BF46A3533-016F-47D0-B740-C96707C158A2%7D&dist=hppr

 

-Al

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2 Responses

  1. Wow Al-

    I want to take this opportunity to thank you for putting this article up. I watched the President too-and while I’m glad that we’re definitely getting a new President soon-because of this mess and countless others…but that’s another story) I didn’ t hear him mention credit unions either.

    As a member since I was in college, I knew about the NCUA-but I’m sure others out there don’t. I encourage you to keep spreading the word out there on your blog to let others out there know that the NCUA works in large part, just like the FDIC.

    I wish HFCU great success, while I am not a member-I do work in Hebron but live in Columbus and often share branch with you guys.

    It’s my understanding that credit unions haven’t been affected by what’s going on-I do my homework. Unfortunately if more people did we probably wouldn’t be in the financial mess we’re in now. My CU even offers extra ASI insurance which makes me feel even better about my deposits.

    I do love your blog-I wish my CU had one-but I am a great supporter of HFCU and Credit unions in general. Keep up the good work.

  2. Suzee,

    Thanks for the kind words about our blog and about credit unions. We need more credit union members like you to spread the word on the safety and soundness of credit unions.

    Historically credit unions have always stepped up to the plate in tough times and helped our members. I don’t see it being any different this time. Our not for profit motto makes the difference.

    I’ll also bet that President Bush knows he forgot to mention a very important segment of the financial community last night.

    Al

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