CUNA statement on government shutdown
WASHINGTON DC (October 1, 2013) – Following news of the federal government shutdown Bill Cheney, president and CEO of the Credit Union National Association, released the following statement.
“While the gridlock in Washington has put many people in an unfortunate situation, it’s important for the nation’s 98 million credit union members to know that credit unions are still operating safe and sound. The National Credit Union Administration (NCUA) will remain functional through the shutdown and all accounts will be insured as usual. Although NCUA is an arm of the federal government, its operations are completely funded by credit unions, ensuring the security of all member accounts.”
“Because we are member-owned and member-directed, our services will continue uninterrupted. During these financially uncertain times, credit unions can offer a variety of services, including short-term, specialty loans for those whose finances have been directly impacted by the shutdown.”