YORK, Penn. - The headlines generated by the failure of IndyMac Bank in Pasadena, Calif. have stirred concern in this community nearly 3,000 miles away, prompting one credit union to let its members know their money is safe and how it is insured.
Tara Houser, marketing director for First Capital FCU, said the credit union’s members’ money is safe, even if they have more than the federally insured limit of $100,000 on deposit because the CU opted to provide its members with coverage of up to $250,000 per account through Excess Share Insurance, a unit of Dublin, Ohio-based American Share Insurance.
“We wanted to make sure everyone in the area knew we have ESI, and we wanted our members to know they were safe,” she told Credit Union Journal. “We want them to know they are protected.”(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com http://www.sourcemedia.com
