Credit unions have been included for in the Bill which will allow the Minister to take over the running of a credit union under special management, purchase special investment shares and direct the transfer of its business to another credit institution (credit union, bank, building society).
Where a credit unions' members share accounts are being transferred they can be converted to deposits.
Meanwhile extrapolating data reported in this thread it looks as if many credit unions could experience a slow run following a collapse in dividend rates. (20% are paying zero, 47% less than 0.50% and 70% less than 1%.)
Where a credit unions' members share accounts are being transferred they can be converted to deposits.
Meanwhile extrapolating data reported in this thread it looks as if many credit unions could experience a slow run following a collapse in dividend rates. (20% are paying zero, 47% less than 0.50% and 70% less than 1%.)