My question...
I have some old Federal Reserve Notes with the language "is redeemable in lawful money at the united states treasury or at any federal reserve bank."

Is a credit union a federal reserve bank? I know it is a member of the Federal Reserve Bank, but, according to the language above, is it specifically a "federal reserve bank," or does this mean 1 of the 12 district banks?
The response
hank you for your recent correspondence to the Federal Reserve Board regarding Federal Reserve notes. Because of the nature of your question, you may be interested in our Frequently Asked Questions about currency and coin: http://www.federalreserve.gov/faqs/currency-coin.htm

You may also be interested in the Federal Reserve Bank of Philadephia's online publication, "Symbols on American Money," which can be found at http://www.philadelphiafed.org/educa...merican-money/.

As for your question about credit unions, please know the Federal Reserve supervises only state-chartered banks that are members of the Federal Reserve System. The National Credit Union Administration (NCUA) is the agency that supervises and regulates federal credit unions.

I hope this information is helpful.

Sincerely,

LOD
Board Staff
I am going to pursue a bank, my understanding was credit union and bank are nearly identical, just with different owners, maybe a little more restriction with a credit union. Either way, better off at a bank I would say, at least judging from the email.