Credit Union introduces charges for deposits and withdrawals from share account

Should it not be to cover loans and a percentage of the deposits?
The Credit unions have no where to put their money.
It was with the advice from the League of Credit Unions and financial advisers that pushed our credit union to invest in bonds. It was the regulator after the crash that gave the big bond holders their full investment back and only a small percentage to our credit union. Massive write off that year but the staff got a pay rise!
 
Sconeandjam said:
Should it not be to cover loans and a percentage of the deposits?
Click to expand...

That is discussed at length in this thread

10% Reserve Ratio

I noted once again in the Financial Times which referred to the equivalent ratio for Banks in Europe and the requirement to have their ratio at 3% of Total Assets and allowing €1Tn (trillion) to be excluded from the assets figures. I emailed the World Council of Credit Unions about 10% ratio...
www.askaboutmoney.com
 
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