are my rainy day savings in credit union at risk?

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Thirsty

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Question is pretty much as per subject heading... My rainy day savings, a decent sum, is in the local credit union. With all these posts of CUs in trouble should I be concerned?
 
Thirsty said:
Question is pretty much as per subject heading... My rainy day savings, a decent sum, is in the local credit union. With all these posts of CUs in trouble should I be concerned?
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No, your savings are guaranteed up to €100k in your CU. Might be wise to spread it about so it's easier to access if the credit union did get into trouble. The guarantee might take some tines to sort out.
 
Just to note there are over 375 Credit Unions
There are 4 maybe 5 .. so they are not all in trouble or anything near it.
Stop the propaganda.
 
Thirsty said:
Thanks for the reply, that's useful to know....

Where's the propaganda?
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Might not be (propaganda), but having threads that highlighted the problems of the very few poorly run Credit Unions out of a total of 400 Unions, might infer that the Unions movement is like our Banks ie insolvent.


Credit unions are I think about the only commonly used Financial entity that is secure!
(But then it isn,t run by Financial Professionals !)
 
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