Sep 25, 2008
Federal credit unions
Question: On last Friday's show it was stated something to the effect: "congress will never let the FDIC run out of funds". What about the NCUSIF?…
Question: On last Friday’s show it was stated something to the effect: “congress will never let the FDIC run out of funds”. What about the NCUSIF? PLEASE WITHHOLD MY NAME, Scotia, NY
Answer: Technically, the FDIC could run out of money. But I don’t believe the Treasury or Congress would let that happen. The same holds with the NCUSIF (National Credit Union Share Insurance Fund), the federal insurance guarantee for federal credit unions.
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