INBS - What happens if it is sold?

[DeeKie]

I have money on deposit with INBS. It now seems its for sal http://www.independent.ie/national-...-as-400-jobs-hang-in-the-balance-2335244.htmle.

What happens to (1) my money (I assume it goes to the bidder); (2) my membership of the society? (does it just get annulled? I assume there'd be no payout anyway).

Thanks

 

[Lightning]

1) Yes, it goes to the bidder. Namely, IL&P or Cardinal Capital or Anglo or someone else.

2) Forget about your membership. INBS is nationalised. There will never be a pay out to members.