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Blue Federal Credit Union announces new family resource center Tribune Noah Zahn, Wyoming Tribune-Eagle, Cheyenne December 8, 2023 at 6:53 PM
The Federal Deposit Insurance Corporation federally insures most traditional banks in case of failure. But credit unions are not considered traditional banks. Is a credit union FDIC insured?
Background The Blue Eagle was a symbol used in the United States by companies to show compliance with and support of the National Industrial Recovery Act.
A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. [1] Credit unions in the United States may either be chartered by the federal government [2] or a state government. [3] The National Credit Union ...
U.S. Eagle Federal Credit Union is a credit union founded in 1935 in Albuquerque, New Mexico. [1] They have branches in Albuquerque, Farmington, Santa Fe, and Bernalillo. [2]
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Due to their small size and limited exposure to mortgage securitizations, credit unions weathered the 2007–2008 financial crisis reasonably well. However, two of the biggest corporate credit unions in the United States (U.S. Central Credit Union and WesCorp) with combined assets of more than $57 billion were taken over by the National Credit Union Administration [9] on March 20, 2009.
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