Liars

[TOM4CWB]

AFSC FCC are 2 I know of at 3.5%

FCC is at 4 on farm inputs last we checked.

Without liquidity we are all hooped!

I think that was the reason to inject the monitization funding... forced sales to create cash makes chaos.

[Hopperbin]

I just transfered 15 grand out of my Credit Union equity account. Had to leave 2 grand in there. They must be doing fine.

[wilagro]

I'm about to transfer 30 grand INTO our Credit Union equity account. Beats the ATB rate of return.

[cottonpicken]

Credit unions are not covered under cdic,canadian
tire bank is.

If credit unions have a leverage of 1:1,i.e. 1 dollar
deposit to one dollar loans,its news to me and thats
good,i don't their leverage ratios,if somebody does
know fore sure,please tell us.

This is the the most important concept to understand.

LEVERAGE-avearge leverage ratios,i said
average,stand around 20:1,this means 20 dollars in
loans to 1 dollar in deposits.

These loans are tradable assets,on the books,if the
value of these assets declines just a few points,the
bank is toast,if people like me sense their toast they

A:take their money out and run(aka bank run)
B:take the money out,short the stock,buy a credit
default swap if somebody is stupid enough to sell one

Thats why the banks where re capitalized,thats why
the toxic assets/debt was taken off the banks and put
on the taxpayers........

Which leads to qe and paul harveys rest of the story...
which is credit unions in vancouver.......

[cottonpicken]

I should also talk simple to some.

Having money in a credit union is one of the dumbest
things you could do.

[TOM4CWB]

CP:

"Deposits are 100% guaranteed by the Credit Union Deposit Guarantee Corporation. This means both the money you put in and the interest earned is safe and secure – up to any dollar amount.

"Is Credit Union Deposit Guarantee Corporation
part of the Alberta Government?
Credit Union Deposit Guarantee Corporation is a
Provincial corporation established under the
Alberta Credit Union Act. A Board of Directors
appointed by the Lieutenant Governor in Council
of Alberta administers the Credit Union Deposit
Guarantee Corporation.
Are deposits in Alberta credit unions 100%
guaranteed?
The Credit Union Deposit Guarantee Corporation
guarantees the repayment of all deposits with
Alberta credit unions, including accrued interest
to the date of payout. It is not affected by a credit
union changing its name, amalgamating or
entering into similar types of arrangements.

Does the Government of Alberta also cover
deposits?

The Credit Union Act provides that the
Government of Alberta will ensure that the
Credit Union Deposit Guarantee Corporation’s
obligation to depositors is carried out.

Is this guarantee the same as the banks’ $100,000
insurance?

This guarantee is more extensive than the banks’
insurance. All deposit amounts are fully
guaranteed and include accrued interest to the
date of payout.
Deposit amounts include
chequing and savings accounts, RRSP deposits,
RRIF deposits, TFSA deposits, foreign currency
deposits, and term deposits, including those with
terms exceeding five years."



Servus Credit Union's 100% guarantee covers all deposits, including accrued interest to the date of payout. The guarantee does not cover non-deposit investments, such as Common Shares, investment shares, mutual funds and self-administered RRSPs that are not deposits (e.g., shares, mutual funds).



The Government of Alberta ensures that the Credit Union Deposit Guarantee Corporation's obligations to depositors will be carried out.

In essence CP the ATB and Credit Unions have the same deposit guarentee... 100 percent.

How can you get it better than that?

Cheers!

[Burbert]

Borrowing from a credit union is
good/okay they are better than big banks,
treat you well and are helpful. But
putting money inta them is a bit risky!
Histroy has shown that.........

[cottonpicken]

When the tax payers of of a regional insurer say no
way.

[cottonpicken]

Actually i retract those thoughts,the government will
always step in to backstop those banks/insurance
corps,at the cost of the tax payers.