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Are credit union funds safe?

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  • 20-01-2009 2:39pm
    #1
    hedgeh0g
    Closed Accounts Posts: 393 ✭✭


    Credit union funds versus bank funds, are both as risky at the moment?

    You can't spend a bank guarantee in Lidal


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    #2
    bills
    Registered Users Posts: 952 ✭✭✭bills


    Credit unions guaranteed up to 100k as opposed to banks which are 100%


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    #3
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    Both are guaranteed by the same government.


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    #4
    GerardKeating
    Registered Users Posts: 7,650 ✭✭✭GerardKeating


    hedgeh0g wrote: »
    Credit union funds versus bank funds, are both as risky at the moment?

    You can't spend a bank guarantee in Lidal

    Credit Unions do not have to work abotu share price.


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    #5
    Rob_l
    Registered Users Posts: 2,905 ✭✭✭Rob_l


    credit unions are owned by the members and have not been involved in the bad lending practises that the banks have been involved in (they do not have large loans to developers who are likely to default which is the major concern for banks) and as a result of this I do not think that they are at risk or at least not as at risk as the banks who have large loans with these developers or money invested in the american mortgage market.


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    #6
    RobbedByBroker
    Closed Accounts Posts: 3 ✭RobbedByBroker


    hedgeh0g wrote: »
    Credit union funds versus bank funds, are both as risky at the moment?

    You can't spend a bank guarantee in Lidal


    If this Banana Republic goes wallup nobody's guarantee is going to be of any use to anyone!


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