Credit Union Bailout!

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Cucumber
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Credit Union Bailout!

Postby Cucumber » Thu Jan 29, 2009 1:52 am

Today the government said they are now include credit unions in the bailout and giving them $1 billion. The National Credit Union Administration (NCUA) was losing money on their assets and because of that they didn't have money to lend. I like credit unions they're non-profit and look at they they only needed $1 billion when the banks need almost $1 trillion! :eek: Almost 90 million Americans have accounts at credit unions so that's a lot more bang for our buck we're getting with the credit union bailout than the bank bailout. ;)

And while I'm talking about it who has credit union credit cards? They do offer usually better interest rates and more fair practices than the bank credit cards do from what I've heard......
OBAMA
Stop talking crap about him!


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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Jan 29, 2009 10:02 am

I don't have a problem bailing out the credit unions at all. The executive compensation they give is a reasonable level. Unlike the banks who gave the top brass billions in bonuses last year for failing at their jobs.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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CFAlevel3
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Postby CFAlevel3 » Sat Jan 31, 2009 4:45 pm

Credit unions were smart to never invest heavily in mortgage backed securities or credit default swaps.



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