Stverak to Congress: CUs are stable, necessary, popular choice for consumers

The credit union difference makes a secure financial option for consumers, CUNA Deputy Chief Advocacy Officer wrote to all 535 Congressional offices Tuesday.

"During this time of uncertainty in the banking sector, it is important to understand how credit unions are different from banks and why we remain a stable, necessary and popular choice for over 130 million Americans," he wrote. "The credit union difference makes us stronger by helping improve the financial well-being of everyone in your state."

He noted credit union benefits include:

• Not-for-profit. Credit unions' member-owned, not-for-profit cooperative structure allows them to put members ahead of the bottom line.
• Member ownership. Credit unions are owned by their members and each person has equal ownership.
• Insured. Credit union deposits are insured up to $250,000 per individual depositor - the same level as any federally insured financial institution.

CUNA launched a webpage last week to support and provide resources for Leagues and credit unions