From the APRIL 9, 1990, issue of Credit Union Times.
Washington, D.C. – CUNA and NAFCU have co-authored a letter to L. William Seidman, chairman of the FDIC, that claims the two groups are jointly committed to the support of credit unions to public confidence in the federal deposit insurance system.
The letter, dated March 22, acknowledges Seidman's concern that comparisons between the FDIC and NCUSIF could erode faith in the insurance system. The letter, signed by CUNA Chairman Janet Miller and NAFCU Chairman John Stanton, stated, "… the credit unions have had no choice but to respond to the bankers' charges by illustrating the (NCUSIF) in comparison with the BIF. However, it has not been and will not be our policy to suggest that the FDIC's funds are unsafe or unsound."
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