The legalities of such would mean that all Federal Credit Unions would be released to do the same, though, would it not?
I know a lot more about banks and thrifts than I do about CUs. So I don’t want to go too far with my assumptions. I don’t know if this is a policy decision from the regulator, or if one CU has a really sharp lawyer that’s spotted a loophole (or thinks that he has).
I’d make sure I wasn’t over the $250K limit (not a problem for me) and I’d consider helping them with their reserve requirements by moving some money to another CU if I could do so without hurting myself.