Credit unions must make enough surplus to cover expenses, otherwise, like any other business, they cannot continue, in which case they can become insolvent and cease to exist; the effect on those with funds deposited varies between jurisdictions. The ILCU and its Life Assurance Company ECCU Assurance have made arrangements to facilitate the former members of Rush Credit Union and allow their savings history for Life Savings purposes accrued with Rush Credit Union to be transferred and continued for those who wish to lodge their DGS cheques with an ILCU affiliated credit union before 31st December 2016.
Elevations Credit Union is committed to supporting the communities in serving Adams, Boulder, Broomfield, Denver, Jefferson, Larimer and Weld Counties in Colorado through various means including college scholarships, volunteerism and financial assistance.
Please check with your local credit union to ensure Opening Hours listed are correct. Loans are up by a significant €216 million (6.1%) with 192 credit unions growing their loan books, compared with 141 for the same period last year, and 80 the previous year. We’re a credit union – with all of the services a big bank has to offer – plus added benefits simply for being a member. A Personal Touch – Many credit unions are willing to work with their members through unexpected (or unforeseen) circumstances to benefit the member and their community.
As such, Progressive Credit Union has agreed and gained approval to extend its common bond to the Rush & Lusk areas at its recent AGM and is now accepting membership applications. Better Rates and Lower Fees – A credit union’s bottom line is to benefit its membership; earnings are returned through lower loan rates, higher savings rates and contributions to offset fees. The Government’s Deposit Guarantee Scheme (DGS) has commenced compensation payments to the former members of Rush Credit Union amounting to €22.3 million to date. We encourage all who are divesting from big banks to invest in LES People’s or another community development credit union in your area.
Following the appointment of a provisional liquidator last week to Rush Credit Union, the ILCU, conscious of the demand for the services of a credit union in the local area, examined alternative arrangements that could be put in place to provide credit union services for the former members of Rush Credit Union.