TexasCHLforum.com

Hmm...sorry about the duplicate. I thought my first response disappeared, but there it is. But I'm learning how to do this.........

GlockenHammer wrote:I spoke with a manager at my local 30.06 posted CU. She claimed it was required to get the FDIC insurance. Others here have said the "requirement" to post is bogus. I wonder if the banks/CUs aren't mis-interpreting some real language. If we can identify that language and make a broad campaign to educate our local banks, we and our money might all be safer.... I'll stay tuned here to see if any of you dig up any real facts in the matter.

GH

If this is exactly what she said, she is woefully misinformed. A credit union has nothing to do with the "FDIC" program, as they are governed under the NCUA. A knowledgeable CU staffer would not refer to any FDIC regs.

I retired from managing a small credit union a few years after Texas got its CHL program. I can't say that NCUA hasn't set some contrary policy since then, but in the first few years it was strictly a specific policy of that CU if CHL holders were barred.

GlockenHammer wrote:I spoke with a manager at my local 30.06 posted CU. She claimed it was required to get the FDIC insurance. Others here have said the "requirement" to post is bogus. I wonder if the banks/CUs aren't mis-interpreting some real language. If we can identify that language and make a broad campaign to educate our local banks, we and our money might all be safer.... I'll stay tuned here to see if any of you dig up any real facts in the matter.

GH

If this is exactly what she said (ref: FDIC) she is woefully misinformed. FDIC has no connection with credit unions. They have their own agency and deposit insurance program, NCUA.

I formerly managed a small credit union, after serving as their board president for several years. I left a few years after Texas got its CHL program, but up until the time I left, I never saw any NCUA requirement to bar CHL's. Not to say it couldn't have happened more recently, but I seriously doubt it.