NCUA Provides Informational Letter for Credit Union Members
March 16, 2009, Alexandria, Va. -- The National Credit Union Administration is providing the attached letter explaining details of recent actions taken to stabilize the corporate credit union system. The communication, intended for use by credit unions with their members, also explains how stabilization efforts may affect federally insured credit unions.
Credit unions are encouraged to post the letter in lobbies, on websites and regular or electronic mail in order to ensure the broadest and most effective distribution.
The letter to members is available online at http://www.ncua.gov/CorporateStabilizationProgram.html
The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 89 million account holders in all federal credit unions and the majority of state-chartered credit unions.
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