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FDIC insurance up...but what about...
Old 10-03-2008, 02:29 PM   #1
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FDIC insurance up...but what about...

NCUA for credit unions? Was that increased as well?


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Old 10-03-2008, 02:41 PM   #2
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Apparently so:

Rescue law 101: What it says - Oct. 3, 2008

The bill will also temporarily increase the level of federal insurance for credit union savings to $250,000.

By the way, it's stupid for this to be "temporary", because you'd just cause a run on all assets between $100K and $250K when it expired, and you'd be in this mess again.

"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Old 10-03-2008, 03:09 PM   #3
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Go here (about a half page down) and read the 10/3/08 message: National Credit Union Administration - Home Page
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Old 10-03-2008, 05:09 PM   #4
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I was at the bank today and they did clarify the increase is to $250K for one year only. Congress' rating is 9% approval for average Americans. For intelligent people it must be at zero to get that high an average.
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