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Rise in Deposit Coverage Levels Risks A Hike in Share Insurance Premiums

WASHINGTON -- What's good for credit unions and their members in the short term could necessitate paying a premium in the future.

By Claude R. Marx | Updated on October 21, 2008

WASHINGTON — What’s good for credit unions and their members in the short term could necessitate paying a premium in the future.

Deposits on all accounts are insured up to $250,000 through the end of 2009, without any increase in contributions from credit unions. But the sluggish economy has caused more credit unions to close this year than last year, and the fund could be liable for more money since federally insured dollar figures have increased.

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