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Community banks would not be only ones to benefit from an increase in FDIC coverage. Bob Loftus, spokesman for the National Credit Union Administration, says any increase the Federal Deposit Insurance Corp. coverage would likely be followed by changes in similar deposit insurance offered by NCUA.
"The NCUA has contacted members of Congress close to this issue and we have been assured that any increase in the FDIC coverage would be met with similar increases in credit union deposit insurance."
Loftus says he does not believe raising the insurance level will have a dramatic impact on the deposits on hand in most credit unions.
"The vast majority of …