CNNMoney.com Reassures CU Members about CUs

CUNA News Now
March 26, 2009 | COMMENTS

CNNMoney.com Monday reassured credit union members that their credit unions are safe.

The article, "Credit Union Members: Don't Panic," reminds members that credit unions offer some of the "best deals" in banking. The piece was written in response to news about two corporate credit unions being placed into conservatorship.

CNNMoney also noted that member deposits at federally insured credit unions are backed by the National Credit Union Administration.

"You're still going to find low fees and good deals at credit unions," the article said. "As long as your institution is federally insured and your deposits fall below the insured limits, you can rest easy."

The article also prompted a debate in a comments forum about credit unions' tax-exempt status. Several readers noted that credit unions, unlike banks, have not asked for taxpayer money to bail them out.

> Read the full CNNMoney article here.

This piece originally appeared in CUNA News Now and is reprinted with permission.