Go Back   Askaboutmoney.com > General Financial Issues > Credit Union issues

Reply
 
Thread Tools
  #1  
Old 21-02-2012, 05:10 PM
lorr01 lorr01 is offline
Frequent Poster
 
Posts: 197
Default What happens my savings if credit union closes?

Im just wondering if any one can tell me what will happen to my savings if a credit union closes.

Rumours have been circulating that my local credit union may close. On hearing this - I rang the credit union and was told that they not closing but think they would say that any way to not cause panic!!
Would be great ful for any assistance.
Reply With Quote
  #2  
Old 22-02-2012, 06:15 PM
Slim Slim is offline
Frequent Poster
 
Posts: 1,613
Default

Your savings are guaranteed up to €100,000 per member.

It may take a while to get the money back while paperwork and verification takes place. It is unlikely this will happen but not impossible. More likely there would be a takeover by another credit union.
Reply With Quote
  #3  
Old 22-02-2012, 10:18 PM
lorr01 lorr01 is offline
Frequent Poster
 
Posts: 197
Default

Thank you slim appreciate your response.
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT +1. The time now is 08:23 AM.