WASHINGTON (10/13/08)--For the fourth time in two weeks, President George W. Bush included federal credit union share insurance in public remarks.
In a speech broadcast from the Rose Garden Friday, Bush spoke to shore up consumer confidence in the ailing economy. He addressed federal deposit and share insurance directly.
"Some Americans are concerned about whether their money is safe. So the Federal Deposit Insurance Corporation and the National Credit Union Administration have significantly expanded the amount of money insured in savings accounts, and checking accounts, and certificates of deposit," said Bush.
"That means that if you have up to $250,000 in one of these insured accounts, every penny of that money is safe," he added.
The Credit Union National Association (CUNA) has urged the White House at the highest levels to mention credit union share insurance in all statements about financial institution safety and soundness.
Access the complete White House transcript using the link below.
courtesy of cuna.org