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Insurance Hike Part of Rescue Plan

WASHINGTON -- Credit unions will see a temporary increase in deposit insurance coverage and be able to sell their troubled assets to the government under the bill passed 74-25 by the Senate last Wednesday.

By Claude R. Marx | Updated on October 07, 2008

WASHINGTON — Credit unions will see a temporary increase in deposit insurance coverage and be able to sell their troubled assets to the government under the bill passed 74-25 by the Senate last Wednesday.

The measure increases the amount of federally insured credit union and bank deposits covered by federal insurance from $100,000 to $250,000 through the end of 2009.

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