Search
 

Primary CU Deposit Insurance Needs Federal Government Backing, NAFCU Writes Washington Regulator

NAFCU submitted a comment letter today urging the Washington State Department of Financial Institutions not to use its statutory authority to allow state chartered credit unions to employ private primary deposit insurance.

By Sarah Snell Cooke | Updated on August 07, 2007

ARLINGTON, Va. — NAFCU submitted a comment letter today urging the Washington State Department of Financial Institutions not to use its statutory authority to allow state chartered credit unions to employ private primary deposit insurance.

“While we recognize that secondary share insurance (i.e., insuring shares above the ceiling provided under by federal insurance) provided by private entities is important, NAFCU believes that primary share insurance should only be provided by the Federal government,” NAFCU President/CEO Fred Becker wrote.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.