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Credit unions don't participate in FDIC insurance, they have arranged their own private insurance. So it is not a necessary evil.
by amalag 14y ago
Credit unions don't participate in FDIC insurance, they have arranged their own private insurance. So it is not a necessary evil.
- raverbashing 14y agoInsurance is a necessary evil, if it's backed by the government or by a pool of banks is a different issue
- deleted 14y ago[deleted]
- natrius 14y agoCredit unions participate in the NCUA, which is decidedly not private. http://www.ncua.gov/Pages/default.aspx http://www.ncua.gov/Pages/default.aspx
- amalag 14y agoSorry, you are right, I didn't realize it was a federal agency, I thought it was something they had arranged amongst themselves.