NASCUS Government Relations' Alternative Share Insurance Group instructed to "energize" association's policy on issue

DANA POINT, Calif. – The NASCUS Government Relations' alternative Share Insurance Study Group has been given marching orders by the NASCUS Board and the NASCUS Credit Union Council Board to "energize" the association's alternative insurance policy. The group was also directed to include in its considerations the possible advantages and disadvantages of allowing state chartered credit unions to be insured by the Federal Deposit Insurance Corporation. The boards made it clear that, "NASCUS is not abandoning the NCUSIF. This is just an exploration of other share insurance opportunities for state-chartered credit unions." Board members emphasized that the timing is right for the study group to look into possible insurance alternatives since Congress plans to take up insurance reform in its next session. "NASCUS needs to be at the table and aware of what's happening to enable credit unions to have that option," said one member. -