Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
You can find CUs operating in the manner you outline in so far as they can under the banking regulations.  A CU must charge "Interest" on loans or be shut down.  A CU must pay "Interest" on deposits or be shut down.  How a Credit Union goes about charging and paying "Interest" depends on the political, economic, and social stances of the Board of Directors and the sneakiness of their legal team.  ;-)

Of course, when I was the President of a Credit Union we strictly followed the banking regulations and the rules and restrictions of Proper Banking Practice.


She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Mon Jul 16th, 2007 at 11:49:59 AM EST
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