The Latah Federal Credit Union has been my bank since 1990. I chose it because I don't like dealing with corporate conglomerates that sell and merge and move and have officers that are part of the 1 percent. I, frankly, don't trust them.
The letter I just got from LFCU asking me to vote to choose a private insurance company in Ohio to insure my account at the credit union rather than the National Credit Union Administration, an agency of the federal government, alarms me. Especially since the small print states that the federal insurance provided by the NCUA (our current insurance) is backed by the full faith and credit of the U.S. government. The private insurance you will receive from ASI (American Mutual Share Insurance Corp.), the insurance company the credit union wants to switch to, is not guaranteed by the federal or any state or local government.
Why would we want to do that?
Members have an opportunity to attend a meeting at 6 p.m. May 19 at the Fairfield Inn in Moscow and let the credit union board know what they think of this proposal. They can also vote either at the LFCU website or use the ballot that they got in the mail. This is our credit union. I encourage members to let the credit union board of directors know what they think about the changes the board is proposing.
Susan Westervelt
Deary
