Some Credit Unions Now Capping Balances at €15,000

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Some Credit Unions Now Capping Balances at €15,000.

Irish times article here.

This is obviously a direct consequence of negative interest rates.
 

Brendan Burgess

Founder
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38,648
And it's long overdue.

It was crazy for them to be taking deposits from members when they couldn't lend them on.

Brendan
 

noproblem

Frequent Poster
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1,888
Changed times, who would have thought that this could ever happen? Then again, with all this negative interest rate journey I have no doubt some very bright spark will come up with a business plan to suit the situation.
 

Slim

Frequent Poster
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Our credit union capped deposits and shares 15 years ago because of the inflow of savings versus the difficulty in competing with banks on lending.
 
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