On 7/15/2008 11:12 PM, Dauphin de Viennois went clickity clack on the
keyboard and produced this interesting bit of text:
> "WayPoint" <waypoint@somewhere.in.qld> wrote in
> news:fT9fk.20008$IK1.17029@news-server.bigpond.net.au:
>
>> I'm wondering if Credit Unions are a better deal than main stream
>> banks?
>
> Don't know about in AUS but Credit Unions don't guarantee your savings.
> Lots of peole have lost their life savings because they put their money in
> some dinky Credit Union and not a chartered bank.
In the U.S. credit unions are insured by the NCUA which is the credit
union's version of the FDIC, so your money's safe (up to $100,000 per
account.) Both the FDIC and NCUA are federal agencies that insure accounts.
Destiny! Destiny! No escaping that for me! Destiny! Destiny! No
escaping that for me!
Vernon Balbert
Dallas
