WASHINGTON – Acknowledging the strong division in the credit union movement about whether to take federal money aimed at helping troubled financial institutions, CUNA President/CEO Dan Mica said today they are pushing forward on having the option of getting the money because "the door is closing."
During a meeting on the NCUA's corporate credit union rescue plan he told a capacity crowd at CUNA's Governmental Affairs Conference that "we need the option, we need the backup" that Troubled Asset Relief Program money would provide.
Mica said they are working to come up with a range of alternatives for dealing with the difficulties faced by corporate credit unions.
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