Volume 28, Number 18 September 30, 2008
Volume 28, Number 18 September 30, 2008
HEADLINE NEWS
CU Aid Sought for Credit Unions Affected by Ike
The Texas Credit Union League (TCUL) is asking credit unions to “show what it means to be part of a cooperative movement that looks out for one another” and help out the displaced victims of Hurricane Ike.
More than 200 credit unions in the path of Hurricane Ike have reported some type of loss due to the hurricane, with about 20 of those reporting significant damage, reports CUNA Mutual Group. The hurricane made landfall early on September 13 in Galveston, Texas, and affected a wide region, including Houston.
As credit unions get back on their feet, Texas League CEO Dick Ensweiler reminds the credit union community that we cannot forget about the dedicated people who serve in this movement, staff left homeless or with more damage than they can handle. He encourages continued support of the Texas Credit Union Foundation’s (TCUF) Disaster Relief Fund.
“Their personal hardships are gut-wrenching,” noted Ensweiler. “We need to make sure they understand that they are not alone and that their credit union family stands ready to help them through the difficult process of rebuilding.”
TCUF is encouraging CUs to make donations directly to the TCUF Disaster Relief Fund, either by mail, 4455 LBJ Freeway, Suite 1100, Farmers Branch, TX 75244-5998, or wire to Southwest Corporate Federal Credit Union, ABA 311990511, Texas Credit Union Foundation, Account # 311900048, Reference: Disaster Relief Funds.
Credit unions that would like to engage their employees or members in the fundraising effort are encouraged to post on their website the CUAid link, www.CUAid.coop/Texas. This online donation tool can be used by members and credit union employees to make secure online donations to the disaster relief fund. As with credit union donations, 100 percent of the donations go directly to credit union disaster victims.
Mark the dates, budget, and plan now to be part of the excitement of the GAC. Be sure your voices are heard in Washington with the annual Hike the Hill, network with your credit union peers, and experience the keynote and breakout sessions tailored to the challenges CUs will face in the next year. More information on the program and registration will be available mid-October. The League is reserving a block of rooms, but your CU must call Alice Smith by October 7!
Delaware Exceeds Homes for Our Troops Fundraising Goal
The Delaware League and two credit unions donated $3,103.96 to the Homes for Our Troops initiative, which built homes for two disabled veterans located in cities of the national conventions: Denver, Colorado, and Minneapolis-St. Paul, Minnesota.
The League Governmental Affairs Committee challenged Delaware CUs to match its contribution of $710, which was the state’s fair share of the project. Dover FCU matched the challenge and then the employees raised an additional $1433.96. According to CEO David Clendaniel, “We had a casual day, a raffle for a day off and a raffle for two Orioles tickets. The winner of the day off converted her eight hours to cash and then donated that to Homes for Our Troops.” In addition, Delaware Alliance FCU contributed $250 to the cause.
The credit union movement contributed over $350,000 and many hours of manpower in constructing the handicapped-accessible homes.
COMPLIANCE RECAP
Report and Remittance of Unclaimed Property Is Due November 10
All credit unions are required to report to the Delaware State Escheator at the Bureau of Unclaimed Property by November 10, 2008, certain funds that have remained unclaimed for five years (i.e. June 30, 2003). Unclaimed property refers to various types of personal property of Delaware residents that have been abandoned for five years or more, including share and share draft accounts, uncashed share drafts, dividends, etc.
Every Delaware CU, regardless of whether it holds unclaimed property, must file a copy of Form AP-1 (Report Verification), which provides a summary of the CU’s report and which must be signed and verified by a CU officer. An additional itemized form must be completed if you hold unclaimed property. A preliminary report was due in August, and the final report and remittance of monies in any such accounts are due by the November 10th date. Checks should be made payable to the “Delaware State Escheator” and mailed to P.O. Box 8931, Wilmington, DE 19899.
Unclaimed property forms and a booklet describing the process for submitting unclaimed property is available from the League or online at http://www.state.de.us/revenue/default.shtml (click on “unclaimed property”).
NCUA Final Rule, Advertising of Insurance, Part 740
The National Credit Union Association (NCUA) has approved a final rule permitting credit unions to use a shortened form as the official advertising statement reflecting federal share insurance.
Currently, the official advertising statement is: “This Credit Union is federally insured by the National Credit Union Administration.”
The shortened form is: “Federally insured by NCUA.”
Either form will be acceptable. Federally insured credit unions may also use a reproduction of the official sign as the insurance advertising statement. The rule is effective 30 days after publication in the Federal Register.
CUNA Mutual Assists With FACT Act Compliance
ID Theft 'Red Flag’ Webinar, White Paper Posted To Help CUs Meet November 1 Deadline
CUNA Mutual Group is offering credit unions two additional risk management resources to help them meet the November 1, 2008 compliance deadline for implementing Identity Theft Red Flag Provisions in accordance with the Fair and Accurate Credit Transactions (FACT) Act of 2003.
A recorded webinar, “Identity Theft Red Flags and Address Discrepancies Under the FACT Act,” and a white paper, “Identity Theft Red Flag Rules,” are accessible at no cost to credit union bond policyholders in the Credit Union Protection Resource Center on www.cunamutual.com.
ID theft “red flags” and provisions for address discrepancies are intended to implement Sections 114 and 315 of the FACT Act. The final rules implementing Section 114 of the FACT Act require credit unions to:
1.
Develop a written program for identity theft prevention, and
2. Assess the validity of address change requests when followed closely by a request for an additional or replacement credit or debit card.
The final rules implementing Section 315 require credit unions to adopt policies and procedures to confirm that a credit report is for a consumer, rather than an identity thief posing as the consumer, when a notice of address discrepancy is returned by a consumer reporting agency. The final red flag rules are located on the following website: http://www.ftc.gov/opa/2007/10/redflag.shtm.
New Regulation Z Trigger
Starting January 1, 2009, the dollar amount that triggers additional disclosures and prohibitions under the Truth in Lending Act (TILA) for certain mortgage loans will increase, reminds the Credit Union National Association (CUNA) in a final rule analysis. The recent adjustment to the trigger, which is tied to the Consumer Price Index, is required under the Home Ownership and Equity Protection Act of 1994. Under the Fed's new trigger, the disclosures and prohibitions will now apply when total points and fees on a loan exceed $583 or 8% of the loan amount, whichever is greater. The trigger for 2008 was $561.
CU SYSTEM NEWS
Credit Unions Show Support for Their Communities
Fifteen staff members of DEXSTA FCU, including President/CEO Jerry King, volunteered at the 27th Annual Charmie Welch Invitational Open on September 8 at the DuPont Country Club. The event benefitted the Mary Campbell Center located on Weldin Road in Wilmington, which is a home for adults with special needs. Since 1976, the Mary Campbell Center has offered more than 2,000 people with disabilities the opportunity to live a more meaningful and enriching life. This year’s Honorary Chairman was retired NFL Football coach Dick Vermeil.
Pictured behind DEXSTA CEO Jerry King left to right are Sherry Sawicki, Marketing Coordinator and Dee Chimenti, Lending/Collections Manager.
Employees of Dover FCU recently raised $1,950 at the Boys & Girls Club of Delaware Bowl-A-Thon – donating approximately 30% of the over $6,000 raised at this fundraising event! This donation is used to help support educational programs offered by the Boys & Girls Club of Delaware across the state. This is the third year that Dover Federal has participated in the Bowl-A-Thon.
In another effort to support the community, Dover Federal employees recently collected new and gently used sports equipment to donate to the Elizabeth W. Murphey School located in Dover. In addition to the donated equipment, Dover Federal launched a mentoring program to assist the students with reading and math tutoring. The Elizabeth W. Murphey School provides residential care for dependent/neglected children, ages 10 to 17, as well as health care, education, and counseling for the youth residents.
Louviers FCU continued its commitment to serving the Hispanic community in the under-served areas of the city of Wilmington by participating in the annual Hispanic Festival Parade. The parade, which culminated a three-day festival celebrating the Hispanic culture, is a visible way for Louviers FCU to display its support of the local community. All along the parade route, credit union employees handed out giveaways and bilingual materials to children and adults. Louviers’ commitment to the community also includes bilingual staff and the VIGO® Money Transfer service through its partnership with the WOCCU.
Additionally Louviers FCU showed its community spirit as a sponsor and participant in the annual Day for Kids at the 14th Wilmington Riverfest on September 20. The event is a fundraising opportunity for the Boys and Girls Clubs of Delaware and benefits the 30,000 children the clubs serve in Delaware. Included in the handouts distributed by LFCU Board members and staff were CUNA’s “Teaching Children About Money” brochures and “Saving Money Is Smart” bilingual coloring books. This year 12,000 families enjoyed the day.
Finally, Louviers FCU was a “Presenting Sponsor” for the 5th Annual Taste of Newark held on September 21. Participation helps support the Downtown Newark Partnership and the University of Delaware’s Department of Hotel, Restaurant and Institutional Management. The DNP is a private-public partnership dedicated to the economic enhancement of downtown Newark. The partnership has created a unique environment in which the U of D, the city and the residential and business communities work together toward a common goal – the ongoing revitalization of Main Street.
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Louviers staff member Adelina Torres and director of HR and special projects Bob Walls prepare for the Hispanic Festival parade |
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The annual Credit Union Cherry Blossom Ten Mile Run held in Washington, DC, showcases the cooperative nature of credit unions and the industry’s commitment to serving charities in their local communities. The 2008 run generated $1 million in donations for Children’s Miracle Network (CMN) affiliated hospitals. Money raised from each participating credit union and its members is given back to a local CMN hospital. Recently, Johns Hopkins Children’s Center received a check for $33,000 representing donations from 10 credit unions and credit union-related organizations in surrounding states. Delaware was represented by Sussex County FCU in Seaford.
“The race is more than a run. It’s a commitment to our community, and Sussex County FCU takes that responsibility seriously,” said Pamela Fleuette, CEO, Sussex County FCU. “We have supported the Credit Union Cherry Blossom Ten Mile Run because of our commitment to work together with other credit unions to help support the valuable work performed by CMN hospitals in our community and across the country.”
DELAWARE NOTES
Welcome to Nancy Kitzinger who now serves as the vice president of operations for Chestnut Run FCU. Nancy previously worked for Sun East Federal Credit Union for about twenty years in a variety of capacities.
EdgeMoor Dupont EFCU is now using Mid-Atlantic Corporate’s Zephyr® ACH files/returns.
Milford Memorial FCU hosted its third annual member appreciation picnic on September 11 on the hospital’s west lawn. Members were treated to lunch prepared by the hospital’s food service and numerous door prizes.
There are now two Delaware credit unions – Chestnut Run and American Spirit – and 38 Pennsylvania credit unions on shared branching. Currently, nationwide there are over 1,508 issuer credit unions who are part of the shared branching network. There are over 3,400 locations nationwide where these credit union members can perform transactions on their credit union accounts. For more information on how to become a part of the shared branching network, contact Jane Bailey at the League office.
Get Out the Vote! Credit unions have a new tool available to help them activate their 
membership to “Get Out
the Vote” in the 2008 Presidential election. CUNA has created an election website, http//www.cuna.org/election/, that helps visitors quickly and easily learn how and where to register to vote, apply for an absentee ballot, and learn more about the 2008 elections. The website also provides brochures and information for credit unions that would like to organize a “Get Out the Vote” campaign for pro-credit union candidates, as well as tips for activating their employees and membership in the political process.
EDUCATIONAL OPPORTUNITIES
October QuickBites Teleconferences
One-hour sessions run from 11 a.m.-noon:
• 10/08 - Does Your Website Stink?
• 10/15 - Check Fraud
• 10/21 - Bank Secrecy Act
• 10/30 - Nuts and Bolts of Bankruptcy
The one-hour sessions run from 11 a.m.-noon. The fee for the one-hour sessions is $99, and the deadline to register with Bernadette Hines is one week prior to the session.
FACT Act: Red Flags – Tuesday, October 7, from 9 a.m.-noon at the League office. Get prepared for the November 1st compliance deadline. Fee: $125.
Robbery Prevention Training – Tuesday, October 14, from 5:30-7:30 p.m. at the League office. Fee: $55. Registration deadline: 10/7.
Upcoming Council Meetings
•
10/22 Mortgage Council: Mortgage Loan Health Check-up
• 11/05 Cards Council: Cards Compliance Update
• 11/06 Marketing Council: The Challenge Program and Seminars in a Box
• 11/07 Financial Council: Economic Overview
All council meetings will be held from 10 a.m.-noon at the League office, followed by lunch and networking. There is no fee for council members; non-members: $100. Contact the League to register.
Business Mixer Golf Outing for Scholarships – Thursday, October 16. Deerfield Golf & Tennis Club, Newark. Format: 18-hole scramble with skill prizes. 8:30 a.m. shotgun start. Fee: $125 per golfer; $400 per foursome. Register by October 3 with Louviers FCU.
Volunteer Leadership Conference – October 24-26. Sponsored by the DE League and the MD/DC CU Association at the Clarion Hotel in Ocean City, MD. Fee: $300. Spouse fee: $90. Golf outing being planned for Friday morning. Space is still available – contact Alice Smith at the League office.
| IMPORTANT SPECIAL SECTION |
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Credit Union Groups Work to Spread the Word About Safety and Soundness
As the financial market continues its uncertainty, credit union organizations, leagues, and credit unions have been working overtime to get the message about credit unions’ safety and soundness out to their members, the media, and the nation. The Delaware Credit Union League is publishing this special section of TOGETHER to provide a roundup of important news and resources related to credit union safety and soundness from the National Credit Union Administration (NCUA) and the Credit Union National Association (CUNA), as well as some recent media clips, to help credit unions and their consumer members better understand the issue.
Please note that the Delaware League will emphasize the issue of credit union safety and soundness and the difference between credit unions and banks in this year’s Credit Union Week Supplement to be published in The News Journal on Tuesday, October 14.
THE NATIONAL CREDIT UNION ADMINISTRATION
NCUA Initiates Share Insurance Call Center, Tool Kit
Experts are available to answer questions about share insurance
Alexandria, Va. - The National Credit Union Administration this week opened a call center and posted an electronic tool kit to help members and credit unions better understand the insurance protection NCUA provides for member accounts.
“With the well-publicized turmoil in the financial markets, consumers need assurance that the federally insured funds in their credit unions are safe up to the insured limits,” said NCUA Chairman Michael E. Fryzel. “NCUA is opening a call center and posting an electronic tool kit to enhance overall consumer understanding of how credit union deposits are insured.
“I call upon credit union volunteers and professionals to employ these resources to the greatest extent possible. You have a unique responsibility to credit union member-owners to be well-versed in the insurance coverage provided by the National Credit Union Share Insurance Fund. Questions from members about NCUA insurance provide an opportunity to increase member understanding of their credit union and the protections afforded by share insurance. I commend credit unions in advance for making full use of NCUA efforts to improve public awareness of this important facet of credit union membership,” noted Chairman Fryzel.
The NCUA Insurance Call Center, operating from 8 a.m. to 6:30 p.m. (EDT) Monday through Friday, has insurance experts available to answer questions about the coverage provided by NCUA share insurance. The toll-free Insurance Call Center number is 1-800-755-1030, extension 1.
The NCUA electronic tool kit, online at http://www.ncua.gov/ShareInsurance/Index.htm contains a variety of useful information on share insurance coverage to use and disseminate, including:
■ NCUA Share Insurance 101 Webinar is scheduled October 7, 2008 (see story below); ■ Insurance estimator enables calculating an estimate of share insurance coverage;
■ “Your Insured Funds” brochure details insurance coverage, with many examples;
■ “How Your Accounts Are Federally Insured” brochure provides basic insurance information;
■ Special Bulletin explains increased retirement account coverage in addition to basic insurance protection; and
■ Letter to Credit Unions 08-CU-18, “Educating Members on Share Insurance Coverage.”
“I encourage credit unions and their members to utilize the call center and the electronic tool kit to the fullest extent possible,” Chairman Fryzel said.
NCUA Hosting Webinar: Share Insurance 101
Alexandria, Va. - Due to credit union members’ increasing concerns about the safety of their money, NCUA is offering a free webinar to review federal share insurance regulations. The session will be held on October 7 from 1-2:30 p.m. and hosted by NCUA board member Gigi Hyland. Hyland will discuss available share insurance resources and operational considerations. The webinar will be interactive, allowing participants to ask questions. For more information and to register visit the events' page on NCUA’s website. If you have questions you would like to submit ahead of time, please e-mail them to boardmember.hyland@ncua.gov.
CREDIT UNION NATIONAL ASSOCIATION
Credit Unions Have Federal Savings Insurance
President Bush Fails to Mention; Coverage Similar to FDIC for Banks (to at least $100,000)
Washington - The money of credit union members is protected by federal insurance at their credit unions, the Credit Union National Association (CUNA) pointed out following President Bush’s speech last week - insurance coverage that is similar to that provided to banks by the Federal Deposit Insurance Corporation (FDIC).
“Regrettably, President Bush did not mention this important aspect of the federal safety net in his comments to the nation,” said CUNA President and CEO Dan Mica. “But, it’s important for the millions of credit union members across the nation - with billions of dollars saved in their credit unions - to know their money is as safe and sound as any deposits in federally insured banks.”
Credit unions across the nation have federal deposit insurance. Just like FDIC insurance at banks, savings are insured to at least $100,000. The federal insurance safety net at credit unions is provided by the National Credit Union Administration (NCUA), a U.S. Government Agency. Additionally, the credit union insurance (just like the FDIC) is backed by the full faith and credit of the United States.
“In fact, no one with their savings at a federally insured credit union has ever lost a dime of their savings,” Mica added.
For more about federal savings insurance at credit unions, see the “America's Credit Unions” website at www.creditunion.coop. To determine how much of your savings at your credit union is covered by federal insurance, visit the NCUA insurance calculator at http://webapps.ncua.gov/ins/
CUNA’s President Appears on Fox Business News
Washington - Dan Mica recently appeared on Fox Business News, live, from the Capitol, to talk about the financial rescue plan wending through the Congress. During the interview, he was sure to point out that credit unions are safe and sound - and have federal insurance, just as banks do under the FDIC. To see a video of Dan's interview, please click on the link below. If the link is not clickable, copy the entire link into your browser address window and press “Enter.” http://media.vmsnews.com/MR.pl?id=092508-899485-R001527773
Mica Promotes CU Soundness Message
Washington - Credit Union National Association (CUNA) President/CEO Dan Mica has posted a video reminder that not only are consumers’ federally insured share deposits in credit unions safe, credit unions are “probably the safest depository institutions in the country right now.”
The Mica video contested misinformation being circulated in the news media about deposit safety and dispelled any notion that credit unions are second to any other depository institution as a safe haven for consumers’ insured funds. The message is featured on the homepage of the CUNA website, www.cuna.org, as well as the consumer website, www.creditunion.coop.
In related events, CUNA has been working amid fast-breaking developments to ensure credit unions are assured equal access to a proposed Treasury Department economic rescue package, if approved. CUNA is also closely monitoring associated accounting and bankruptcy issues that could develop under the rescue plan.
U.S. TREASURY SECRETARY PAULSON’S TESTIMONY
Paulson Says Credit Unions Included in Federal Rescue Proposal
Washington - U.S. Treasury Secretary Henry Paulson, Jr. in testimony before the House Financial Services Committee said credit unions would be included in any federal plan to rescue the financial services sector.
Paulson appeared in the hearing entitled “Turmoil in U.S. Credit Markets: Recent Actions Regarding Government Sponsored Entities, Investment Banks and Other Financial Institutions.” He outlined the urgency of Treasury’s plan to issue up to $700 billion of Treasury securities to buy troubled mortgage assets from U.S. financial firms.
“Under our proposal, we would use market mechanisms available to small banks, credit unions, and thrifts, across the country - not just big banks,” said Paulson. “These mechanisms will help set values of complex, illiquid mortgage and mortgage-related securities to unclog our credit and capital markets and make it easier for private investors to purchase these securities and for financial institutions to raise more capital.”
Paulson said the Treasury for months internally analyzed the proposed program - which he said the administration had hoped would never be necessary. The secretary urged lawmakers to quickly adopt the plan and provided a peek at his follow-up agenda to reform the U.S. financial regulatory structure.
“When we get through this difficult period, which we will, our next task must be to address the problems in our financial system through a reform program that fixes our outdated financial regulatory structure and provides strong measures to address other flaws and excesses,” said Paulson. “I have already put forward my recommendations on this subject. Many of you also have strong views, and we must have that critical debate, but we must get through this period first.”
FDIC SPOKESPERSON ISSUES SPECIAL NOTE TO CREDIT UNION MEMBERS
Washington - A television personality who is spokesperson for the Federal Deposit Insurance Corp. (FDIC) has written a special note on her website for credit union members, reassuring them that their deposits are backed by the U.S. government.
Suze Orman had made public appearances, including an appearance on “The Oprah Winfrey Show” on September 24, on behalf of FDIC and indicated that consumers whose deposits aren’t insured by FDIC should withdraw their funds. She did not mention that the National Credit Union Administration also offers comparable insurance for credit unions through the National Credit Union Share Insurance Fund (NCUSIF).
On her website, www.suzeorman.com, Orman addresses federal insurance for credit unions. “If your savings is at a credit union, I want you to listen up right now. Most credit unions are just as safe as an FDIC-insured bank account, but as I explained in an earlier “Suze Scoop,” the wise move to make in these scary times is to double check that you are absolutely 100% protected.” Her entire message can be viewed at this resource link: http://www.suzeorman.com/igsbase/igstemplate.cfm?SRC=SP&SRCN=suzescoop&
GnavID=1&
SnavID=134&NewsID=163
The next day the Credit Union National Association (CUNA) issued a nationwide press release to help credit unions reassure their millions of members that savings in credit unions are federally insured, just like deposits in banks are insured by FDIC (News Now September 25).
“We felt we had to take this action in order to respond to a number of challenges to the fact that credit unions are federally insured, just like the banks,” said Pat Keefe, CUNA vice president of communications. “With FDIC spokesperson and TV personality Suze Orman extolling bank insurance coverage, President Bush’s omission of credit union insurance, and sagging confidence in the financial system overall, it was clear we had to take action for our members, and consumers,” Keefe said.
The press release points out that the money of virtually all credit union members is protected by federal insurance similar to that provided to banks by FDIC. It directs consumers to two websites for more information:
► For more about federal savings insurance at credit unions, consumers can go to the “America’s Credit Unions” website at www.creditunion.coop.
► To determine how much of their savings at your credit union is covered by federal insurance, they can visit the NCUA insurance calculator at http://webapps.ncua.gov/ins/.
MONEY MARKET SHARE ACCOUNTS AT CUS ARE INSURED
Madison, Wis. (9/29/08) - In the wake of recent financial bailouts and questions over the safety of financial instruments, there’s been considerable confusion over the difference between money market share accounts at the credit union and money market mutual funds. The most important difference: One is insured and one isn’t.
Money that members place in money market share accounts - which are substantially similar to banks’ money market deposit accounts - is backed by the U.S. government through the National Credit Union Share Insurance Fund (NCUSIF). It insures funds up to at least $100,000 for a standard account, or $250,000 if the money is specifically in a retirement account.
A similar level of insurance is available through the Federal Deposit Insurance Corporation (FDIC) for bank deposits.
In contrast, the money in a money market mutual fund does not carry insurance. The recent Treasury Department proposal, however, would temporarily guarantee money market mutual funds for a year to boost investor confidence.
“The Treasury Department’s proposal is currently written to guarantee only those funds deposited on or before September 19,” warns Steve Rick, senior economist, Credit Union National Association. “Given recent volatility in the market, it makes sense to place any additional savings in an insured money market share account at depository institutions such as a credit union because of the share insurance up to at least $100,000,” Rick said.
Other important points to remember about these financial instruments include:
■ Money market share accounts offer higher yields than traditional savings accounts, but usually have higher minimum balance requirements than share savings accounts, and money market share accounts typically allow limited transactions.
■ A money market share account is just that - a money market share account at a credit union or a money market deposit account at a bank, whereas a money market mutual fund is a collection of short-term debt investments held by that mutual fund.
■ Despite the associated risks of uninsured money market mutual funds, they’re important savings and investment vehicles for many consumers.
For more information, read “Credit Unions: Safe and Sound” in Home & Family Resource Center. To access, follow this link: Home & Family Finance Resource Center
RESOURCES FOR YOUR CREDIT UNION TO USE WITH MEMBERS REGARDING SAFETY AND SOUNDNESS
The Delaware Credit Union League has posted the following resources on our website, www.dcul.org, which credit unions may adapt to use with their members. They include:
National Credit Union Administration Vice Chairman Rodney Hood explains how credit union savings are fully insured by NCUA
America's Credit Unions: Secure, Strong
Sample Newsletter Article #1
Sample Newsletter Article #2
Press Release Regarding Delaware CUs’ Safety and Soundness
IndyMac - Sample CU Letter
CUNA Resources for Your Members
NCUA Share Insurance Information
The consumer side of the website also has information for the general public:
A top federal official explains how savings in a credit union are fully insured by the National Credit Union Administration (NCUA), a U.S. government agency.
National Credit Union Administration Share Insurance Estimator
Your Insured Funds - A Brochure About the Credit Union Share Insurance Fund
America's Credit Unions - Secure and Strong
TOGETHER is published on the 15th and 30th of each month by the Delaware Credit Union League, 4 Quigley Boulevard, New Castle, DE19720. Information to be published should be sent or phoned into the League no later than the Monday of the week preceding the publication date. Telephone: (302) 322-9341 or (800) 292-7875. This newsletter can also be found on the League website: www.dcul.org. Hard copies of the newsletter will be mailed to each credit union CEO/manager for distribution to those without computer access. Readers can receive a reminder when the newest edition is posted to the Web by emailing susan@dcul.org. Editor: Alice Smith (alice@dcul.org).