ORLANDO, Fla. — The Florida Credit Union League is among those in the industry encouraging consumers to consider credit unions as an alternative.
In an Oct. 2 West Orlando News article, Guy M. Hood, president/CEO of league, wrote "Where some financial institutions are reeling from the economy, credit unions are not. There has also been some hype about money in credit unions being unsafe, when, in fact, it is just as safe being insured with the National Credit Union Association as money with FDIC."
The publication also noted recent segments on CNN and other news shows as well as an article in Politico newspaper recognizing credit unions "as strong and secure institutions that avoided the bad lending practices that caused today's financial crisis."
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"When it comes to personal finances, credit unions are here to serve, to counsel and to protect their membership compassionately," Hood told the News. "Florida's 4.5 million credit union members need to know that as long as their individual accounts remain within coverage limits, their funds are safe."
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