Posted on 11/17/2008 6:16:36 PM PST by RKBA Democrat
Credit unions are insured by the NCUA under terms that are essentially the same as those for banks by FDIC.
While credit unions do fail from time to time, the impact is not as dramatic as it is has been with the banks. Credit unions are usually smaller and more conservatively managed. They also are not subject to the Community Reinvestment Act, which is the underlying cause of a lot of the subprime (garbage) lending that banks did.
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