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
.@TheNCUA :Low-income CUs can expand services to members, train staff,collaborate for efficiencies w/more than $1M in grants awarded 2day
8 hours ago
.@CUNA joins 11 other financial service orgs urging @SenateFloor to take up #CISA to strengthen cybersecurity information sharing
9 hours ago
.@RedwoodCU and its staff donated a combined $5,100 toward AIDS Walk San Francisco. The CU is a longtime sponsor of the event.
9 hours ago
See the latest from @CUNA's CompBlog on Customer Due Diligence. http://t.co/rzOzDUpNMT
10 hours ago
New #FinCEN proposal would strengthen, clarify due diligence obligations for financial institutions. http://t.co/2yxVUXCrYA
10 hours ago