Treasury Secretary John Snow contacted CUNA President Dan Mica last week by phone to inquire about credit unions in Alabama, Louisiana, and Mississippi. According to CUNA, Snow was particularly interested in the number of credit unions affected, their operating status, and liquidity concerns. Snow told Mica it was apparent to him that large financial institutions were able to take care of themselves, but he was concerned about the smaller institutions-especially credit unions.
Snow asked Mica for whatever information CUNA could provide on the situation regarding credit unions in the affected areas.
