WASHINGTON--(EON: Enhanced Online News)--In light of the threatened federal government shutdown, NAFCU President and CEO Dan Berger issued the following statement:
“As not-for-profit, member-owned financial institutions, credit unions are always standing ready to serve their members – and their focus on serving their members would not change during a federal government shutdown. A number of credit unions may offer a variety of programs or service options to assist their members that may be impacted by a government shutdown. As each credit union tailors its services and programs to the needs of its membership, we encourage credit union members to visit their institution’s website in the upcoming days or contact their institution to find out what may be available.”
“If federal buildings are closed, members of credit unions on federal property would also still have access to their accounts and services through their ATM networks, offices and branches located outside of a government facility and at any shared branches as well as through online banking, where offered. To find ATM locations and shared branch locations, credit union members can go to their credit union's website, contact their institution or visit www.CULookup.com.”
As a matter of background, the term “federal” regarding credit unions refers to the type of charter under which they operate. While member accounts are protected by the federal government through the National Credit Union Administration (NCUA), federal credit unions are not part of the federal government.
Federal credit unions are member-owned, and operation schedules may vary.
The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.