Nearly half of the 96 Tennessee credit unions that were seeking federal insurance because their private insurer plans to go out of business have obtained the coverage or are about to do so.

The National Credit Union Administration has given the nod to 39 of the credit unions, and eight others are set for approval once their paperwork has been completed, said William Thomas, chief credit union regulator for Tennessee's Banking Department.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.