Credit Union Dividend

cbreeze

My local credit union is not paying a dividend this year (last year it was .45%). Their bad debts have more than doubled. Have any other people noticed a similar pattern in their local CUs.

snubbleste

yes.

I'm in secondary school and have a couple of hundred in the credit union. noticed that the dividend rate is getting smaller each year . About 5 years ago I was always getting more than €5 of a dividend. Last year I got less than a euro.
Last week I went in and found that I got no dividend at all and got nearly €2 deducted from my account.
I think I'd rather have the money under the mattress :-)

badgerbroc11

280 cu's out of 400 paid dividends last year and the figures will probably be the same this year. when the economy up again so will the dividends. Compared to the banks which had to be bailed out and we will be paying for, for the rest of our lives the fact that majority of cu's can still pay a dividend during the worst recession our country has experienced, is a great reflection on how well they have been managed.
Ask youre parents and grandparents what they would have done without the credit union. As a student the cu will be there for you for the rest of youre life to provide you with small loans for everything you may need.

wmpdd3

My credit union hasn't paid a dividend for 3 years and loans are down by 40%. Nobody I know has been approved for a loan in over a year. Each person has no arrears and is in employment of between 20 and 45 hrs per week.

Darragho

2012 will be an interesting year for Credit Unions.
A lot of them will have to amalgamate in order to survive as some like the banks over extended credit in the good days and it is now coming back to bite them.

JTMan

If you are getting a zero percent return for your money, close the account, move the money to a bank and get a better return for your money.