Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CUNA shares ways to protect deposits with IWall St. JournalI
NEW YORK (7/23/08)--The Credit Union National Association (CUNA) shared some ways to protect consumer deposits at financial institutions in a Monday article in The Wall Street Journal. To make sure that credit union or bank balances greater than $100,000 are protected, the easiest move for consumers is to open a joint account, which is insured up to $200,000, Kathleen Thompson, CUNA senior vice president of compliance, told the newspaper. Additional accounts could protect even more assets, she added. Thompson told the paper that a joint account she has with her husband is insured for up to $200,000, but adding her son to her account would result in another $100,000 under deposit insurance protection, for a total coverage amount of $300,000. While the Federal Deposit Insurance Corp. guarantees bank deposits, the National Credit Union Administration provides the same protection to credit union deposits [through the National Credit Union Share Insurance Fund], the paper mentioned.
Other Resources

RSS print
News Now LiveWire
From today's @USATODAY front page, a shout out to #CreditUnions courtesy of @CUNA http://t.co/881vLPeECN
29 minutes ago
Happy anniversary to the ATM! 45 years of self-service cash HT @GOBankingRates http://t.co/ycsm3GFwk5
2 hours ago
.@USATODAY print edition features #creditunion membership march to #100mm. Zoom in on lower left hand corner #NewsNow http://t.co/Xv8fyX7ces
2 hours ago
No special assessment for ASI member #creditunions in 2014. See #NewsNow http://t.co/NwL9eJwbiQ
2 hours ago
.@MICreditUnions is recruiting member #creditunions to participate in a campaign to help state residents thrive in retirement.
2 hours ago