Key Post What is your Credit Union Dividend for 2012?

Brendan Burgess

Founder
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54,774
Credit Union Dividends 2012

2.5%| CANA (Revenue Staff)
2%|Civil Service
1.5% |Tralee (2011: 1%){br}Terenure{br}{br}{br}{br}
1% |Sandymount(Dublin){br} Firhouse{br}St Joseph's, Dublin Airport{br}Wicklow|{br}Wexford{br}{br}{br}
0.5%|St Jarlath's Tuam{br}Plassey Credit Union, Limerick{br}{br}{br}{br}
 
Civil Service Credit Union - 2%

The board is also recommending a 20% interest rebate to mark its 20th anniversary.
 
Hello,

Clontarf Credit Union in Dublin, are proposing to pay a zero dividend on shares (their lending rate is 9.75% by the way, with no rebate proposed for 2012 on interest paid).

I believe this is the second year in a row this has been the policy adopted by the Credit Union and while they propose to put €50k into a Dividend Reserve (as they did last year - taking the total reserve to €100k), there is absolutely no guarantee as to when, if ever, this reserve might be distributed to members.

Suffice to say, the above results are terribly disappointing, with the Credit Union having only circulated the Accounts and notice of AGM to members, exactly one week before the AGM takes place.

Reasons for concern, perhaps ....

Regards

Mr. Earl.
 
MrEarl said:
Hello,

Suffice to say, the above results are terribly disappointing, with the Credit Union having only circulated the Accounts and notice of AGM to members, exactly one week before the AGM takes place.

Reasons for concern, perhaps .....
Click to expand...

I wouldn't be too concerned about security as the shares are guaranteed up to €100k per member. As they are being allowed to hold an AGM, the Registrar of CUs must be ok with the overall accounts. They may simply have to keep increasing their reserves etc..Only concern is that your savings could be earning more elsewhere.
 
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