uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Click here to find out more x
Post Reply  
Thread Tools Search this Thread
20-10-2019, 22:04   #1
Registered User
Ubbquittious's Avatar
Join Date: Jan 2017
Posts: 2,711

Is this the ultimate fate of our Credit Unions? I see they are expanding their range of services and nipping at the toes of the real banks and I see this as a good thing and probably necessary for their survival.

But in other countries where they had similar arrangements the management of the said credit unions get too big for their boots and start to slowly marginalise the traditional 'joe soap' shareholder/customer. Then they head down the track of slowly becoming a for profit entity and get listed on the stock exchange.

An example would be Halifax in the UK. Once an organisation to help normal folk gain a roof over their head, now a ruthless banking megacorp with tall glass buildings with suited overweight lads with S class Mercedeses milling around the top floor and talking in corporate wank speak before jetting off to some place to meet other fatcats of the banking cartel.
Ubbquittious is offline  
20-10-2019, 22:22   #2
Join Date: Sep 2006
Posts: 28,224
I see them going the same route as most Building Societies.

The ethos of CUs seems to be changing and one would wonder if the trustees of most are equipped to, basically, run a bank.

We need a challenger to the big banks but I don't know if Credit Unions will fit that particular bill.
Julieta Hallowed Reaction is offline  
Thanks from:
Post Reply

Quick Reply
Remove Text Formatting

Insert Image
Wrap [QUOTE] tags around selected text
Decrease Size
Increase Size
Please sign up or log in to join the discussion

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Share Tweet