FARMERS BRANCH, Texas (8/25/08)--Two credit union leaders were featured in a Texas newspaper about the credit union difference.
Kay Rankin, president, Ward County Teachers CU, Monahans, Texas, and Carolyn Jones, manager, Complex Community CU's Monahan branch, were featured in the Aug. 13 issue of The Mudville News, says the Texas Credit Union League (LoneStar Leaguer Aug. 22).
"From the outside, a credit union and a bank appear similar, with both offering basic financial services, but it is within our corporate structure that we differ," Rankin told the newspaper.
Rankin and Jones explained credit unions' non-profit status, and their mission to help people. They also assured the paper that members' money is safe at a credit union and is backed by the National Credit Union Administration Share Insurance Fund.
Credit unions avoided the subprime mortgage mess and have operated responsibly, Rankin said.
courtesy of cuna.org