Credit Union not paying dividend on savings

[Audi_Driver]

Hi,

I have circa €6000 in savings in my local CU,


My local CU has not paid a dividend in a number of years at this stage, I presume they are in financial trouble with members not repaying/reduced repayments on their loans.

Is this normal is there many local CU's out there not paying interest/dividend on savings ?

I am now considering moving my savings to Rabodirect.

Thanks for reading.

 

[ajapale]

Have a look at these threads
What is your Credit Union Dividend for 2012?

Some CU's have paid 0% over the last few years but many have paid amounts up to 2%.

 

[WizardDr]

@Audi Driver - have a look at their accounts.

There is an insane provision that a CU must have retained earnings of 10% against all assets.

Even if they have huge amounts on deposit - which many of them have - it is still 10%.

Tell us who it is and if you can get the accounts I will have a look.

Rabo - what do they pay?