CUANM on TV: CUs insured, in good shape
Credit Union Association of New Mexico CEO Sylvia Lyon was interviewed Friday morning on local TV about the status of credit unions during the recent financial shakeups. During her interview with Albuquerque news anchor Mike Powers, Lyon assured listeners that credit unions in New Mexico and nationwide are in good financial shape, are ready to help members and are open to new members.
The video segment is available on the KRQE Web site.
In the 2 1/2 minute segment, Lyon discussed how credit unions are performing in the current economy and the financial crisis. Credit unions are in good financial shape because they didn’t take on risky sub-prime mortgage lending, she said, and have always made responsible loans.
Lyon emphasized that federal insurance coverage through NCUA for the same amount that bank accounts are insured. And, she noted, if lawmakers raise federal insurance on bank accounts to $250,000, as recommended in the current financial rescue plan, credit union accounts will get the same extended coverage from the NCUA.
Powers asked if government employees were the biggest bloc of credit union members. Lyon replied that while that was the case in the past, now more credit unions are opening their membership to more people. She pointed interested listeners to the credit union directory on the CUANM Web site or told them to call the CUANM office and staff would help them to determine if they are eligible for membership.
“My goal was to send a clear message about the share insurance coverage. I hope this segment reaches many New Mexicans and helps create greater awareness for all consumers about credit union insurance coverage,” Lyon said about the TV interview.