Key Post What dividend is your CU proposing for y/e 30/09/2011

S

STEINER

Registered User
Messages
1,161
Hi,
I got a shock when I got notice of my CU's AGM for 15th December and the directors are proposing no dividend for 2011 at all because of the bad debts. They have always paid annual dividends so I guess things are very bad enough with them now.

How much dividends are other posters CU's paying for 2011?
 
every CU is different and I've posted before that all dividends must beb Okay'ed by the regulator.
Ringsend CU is giving 1.5%
 
Mallow.....long letter yesterday blaming banks etc.....finishing with "paying NO dividend this year".....dont have loan with them but have couple of accounts....been there prob 25yrs since a young fella......opened an account for eldest when he arrived 10yrs ago....prob 12/14K there now....couple of thou in my own a/c.....now wondering what the point of it if they not paying anything at all...... but if i cut and run...and others do likewise will we just exacerbate a problem??
 
Community Credit Union (Castleknock / Blanchardstown) is recommending no dividend this year.
 
If only Roscrea would actually have an agm to discuss one, still waiting for what should have been held in dec10/jan 2011.
It will be 0% anyway as it was the last year.
 
jem said:
If only Roscrea would actually have an agm to discuss one, still waiting for what should have been held in dec10/jan 2011.
It will be 0% anyway as it was the last year.
Click to expand...

I'm not highly knowledgeable on CU rules. How can a CU not hold an AGM? How can a CU implement 0% or any other dividend other than by members voting at AGM?
 
that is the 6m dollar question,
The previous one was 12 months late (2009 held in nov 2010 as opposed to nov/dec 2009).
Financial Regulator blamed that time and guaranteed that the 2010 one would be held in dec 2010 or at the latest jan 2011) still no sign.

Due to roscrea credit union being one of those in deep trouble the dividents bit is a given at 0%.
 
STEINER said:
I'm not highly knowledgeable on CU rules. How can a CU not hold an AGM? How can a CU implement 0% or any other dividend other than by members voting at AGM?
Click to expand...

The credit unions now have to have their accounts approved by the regulator before they can hold an AGM and declare a dividend. Can't proceed until he gives the go ahead.
 
Slim said:
The credit unions now have to have their accounts approved by the regulator before they can hold an AGM and declare a dividend. Can't proceed until he gives the go ahead.
Click to expand...
Ya but 12 months late!!!
 
The eircom CU (e-services & communications credit union) is paying 1.5% and also giving a % of loan interest back to those who paid it. I think it might be 10% but can't be sure as I only scanned it because it doesn't affect me.
 
You must log in or register to reply here.
Back
Top