[PEN-L:36287] Re: safe banks? FDIC????

["k hanly" <khanly@xxxxxxxxxxxxxxx>]

The situation seems to be different than in Canada where the insurance is
provincially based but the National Credit Union Share Insurance Fund is
backed by the US federal  government it is not a for-profit private company.
Sounds quite safe.I belong to two credit unions. Usually the services are
cheaper than banks and there are rebates on loan interest, unless the credit
union is not doing well or you get managers who push expansion and bigger
buildings!
Of course you get to vote for directors and a cheap dinner once a year..


Cheers, Ken Hanly

http://www.ncua.gov/

----- Original Message -----
From: "joanna bujes" <joanna.bujes@xxxxxxx>
To: <pen-l@xxxxxxxxxxxxxxxxxxx>; <lbo-talk@xxxxxxxxxxxxxxx>
Sent: Saturday, March 29, 2003 7:08 PM
Subject: [PEN-L:36285] safe banks? FDIC????


> My credit union (AEACU) just posted a notice that they are not FDIC, but
> insured through a private company: National Credit Union Share Insurance
Fund.
>
> Should I worry? I love the place and love the service. Is FDIC the best
> all-around guarantee? It even seems that because Credit Unions are more
> strictly regulated, they might be safer as a place to park my money...
>
> Would greatly appreciate your comments/suggestions.
>
> Thanks,
>
> Joanna
>