Regulator stopped credit union dividends payout

The credit union regulator intervened to prevent 76 individual credit unions from paying the dividend they had originally proposed for their members last year.

25th July, 2009

The credit union regulator intervened to prevent 76 individual credit unions from paying the dividend they had originally proposed for their members last year.

The move came after the regulator expressed concern that the bodies’ financial position was not strong enough to pay their target dividend or interest rebate.

Some 101 credit unions made contact with the regulator late last year in respect of their dividends, after being instructed to do so if they were...

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