[Congressional Record Volume 141, Number 163 (Friday, October 20, 1995)]
[Extensions of Remarks]
[Page E1992]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




[[Page E1992]]


                     THE 25TH ANNIVERSARY OF NCUSIF

                                 ______


                           HON. MARGE ROUKEMA

                             of new jersey

                    in the house of representatives

                       Thursday, October 19, 1995

  Mrs. ROUKEMA. Mr. Speaker, I invite my colleagues to join me in 
congratulating the credit union community in celebrating the 25th 
anniversary of the creation of the National Credit Union Share 
Insurance Fund. This fund was established by Congress in 1970 and has 
provided unparalleled security and stability for America's credit union 
members since that time. This insurance fund has an impressive 
history--it has never received any Federal support or any taxpayer 
dollars in start-up capital or bail-out funding. No credit union member 
has ever lost money in a credit union protected by the fund.
  Senator Wallace Bennett, the father of Utah's current Senator Robert 
F. Bennett, was the author of the legislation creating the credit union 
share insurance fund. In his remarks during the debate over the 
legislation, Wallace Bennett said, ``Since many credit unions deal 
primarily with individuals having limited incomes, it is particularly 
important that they enjoy the same insurance protection enjoyed by 
savers and depositors in other financial deposit accepting 
institutions.'' This belief endures today.
  So on this special occasion, I wish the credit union community 
continued success and prosperity. Happy 25th Anniversary to the 
National Credit Union Share Insurance Fund.

                          ____________________