For several years now (as long as I've paid attention) almost every ad or commercial for a bank or credit union says they are Member FDIC or Member NCUA. Where is the of? Why are these not Member of FDIC or Member of NCUA?
I've never heard somebody use the term member without of or some comparable preposition.
Tom, are you member Costco? Yes Bill, I am member Costco.
I've never seen an instance of this. What gives?
Best Answer
This "Member FDIC" is simply the shortest way allowable by law for a banking institution to indicate its affiliation with that organization. According to the relevant regulation:
It is worth noting that legal regulatory language, especially in advertising, may be devised by organizations without reference to what may be customary for those businesses to use in communications. In other words, the whole issue stands at a remove from English proper. Note that the FDIC itself doesn't care whether the institution uses of in the construction.