HARRISBURG, Pa. — Pennsylvania credit unions are being forced to emphasize account safety as a result of the Bear Stearns rescue, the Pennsylvania Credit Union Association observed Friday.
On its “Life Is a Highway” daily news wire, PCUA said CUs across the state “have noticed a marked increase in questions from members regarding the safety and soundness of their deposits.”
As a result, the PCUA urged its members start “posting official signs at teller stations; on Web sites; and in newsletters and brochures” assuring members that their share/savings accounts are NCUA-insured.
“Credit unions should take every opportunity to inform members” of that fact as well as “not one penny of insured savings has ever been lost by a member of a federally-insured credit union.”
The PCUA reminded Pennsylvania CUs that the official NCUA insured account signage must appear on internet pages.
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