Federal and State Officials Order Resource One CU to Halt Safety Ads
WASHINGTON -- For the second time in less than a month, federal and state authorities have coordinated efforts to force a Texas credit union to stop running advertisements that the agencies say question the safety of deposits at banks.
The NCUA and Texas Credit Union Commissioner Harold Feeney ordered Resource One Credit Union in Dallas to cease and desist using an ad that says: "What is safer then money in the bank? Depositing it at Resource One Credit Union." Later in the ad, after touting its competitive rates and the fact that it is not beholden to Wall Street, the credit union said, "Your bank may be failing but Resource One is NOT! Don't take chances with your money."