A majority of credit unions support asking the government to make money available as a backup to the NCUA's deposit guarantee, according to a poll released today by CUNA.
The survey found that more than 55% of respondents agreed that "CUNA should advocate for a set-aside of TARP (Troubled Asset Relief Program) funds to backstop the NCUA's guarantee of deposits by natural person credit unions in corporate credit unions, only to be accessed if at least $500 million of loss from corporates is first absorbed by the NCUSIF."
CUNA's poll also showed 36% disagreed with the statement and 9% were neutral.
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The survey also showed that 56% of the responded disagreed with the statement that "CUNA should not advocate under TARP funds under any circumstances and in any conditions."
The survey was sent to more than 5,000 credit unions between February 12 and 15 and 1,600 credit unions responded.
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