The NCUA Board plans to vote whether to finalize rules about how credit unions must display signs indicating they have insurance coverage at its meeting next Thursday.
NCUA is proposing giving federally insured credit unions three options for displaying signs conveying insurance coverage information: Display the existing sign but convey information to members about the coverage changes elsewhere; display a version of the sign showing increased coverage; or physically alter the existing sign with a sticker to reflect the $250,000 coverage level.
The changes are needed because last October Congress passed a temporary increase in insurance coverage from $100,000 to $250,000 through the end of 2009. Congressional leaders have said Congress will probably make the change permanent sometime this year.
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:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 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.
