THE DADDYMAN,
- Prudence
- I would have a concern about those that invested in massive offices for themselves (Newbridge is a case in point). Was it really needed?
- + one on the community element as well, especially given that banks are going out of their way not to have customers darken their doorsteps
THE DADDYMAN,
I think Newbridge and their ilk are largely outliers and not usual.
MR Earl,,
I think the main push came from our failed Central Bank regulators believing that CU,s were a bit like the Banks ie Basket Cases. ... But I am very sceptical of letting Central Bank lead them ?
I agree but the original question was what was the measure of a good credit union, to me one measure was have they wasted money on large white elephant buildingsTHE DADDYMAN,
I think Newbridge and their ilk are largely outliers and not usual.
I agree but the original question was what was the measure of a good credit union, to me one measure was have they wasted money on large white elephant buildings
I agree but the original question was what was the measure of a good credit union, to me one measure was have they wasted money on large white elephant buildings
1. Is your money safe?We have 400 unions , but unlike Banks only a tiny few are in hassle, and we didn,t have to pay billlions to bail them out.
I understand most have nuff reserves to stand future hits.
....Having never really looked at CU's I'm interested to see what I can learn before opening an account - to me the value is in diversification of deposits (from banks), but I have no interest in opening an account anywhere if I don't know what type of exposures or capital levels the CU maintains.
If you are coming at this in terms of how secure your savings might be, then you should be able to rest fairly easy.....
- CU's members shares are protected by the Deposit Protection Guarantee Scheme for the first €100k (confirm your individual CU on the CB's list)
- In addition, the ILCU provides the Savings Protection Scheme which is there to help CUs in financial difficulty, with intent to help protect members against loss on their shares
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