The banks won’t help you, but you must help the banks

Interesting news from Peter Black this morning that the FSA will be introducing an extra charge on Credit Unions (totalling around £8.5m) to help cover the cost of bailing out the banks. Yes, it seems that people who kept their money out of the banks – indeed, some of them likely turned to their local Credit Union for help when the banks wouldn’t help them – are now going to join those being penalised for someone else’s mistake.

I’m trying to find details on the number of people in Britain who are members of a Credit Union (I can’t find one on the Association of British Credit Unions site), but this press release says around 600,000 which suggests that every member is being charged about £10 by the FSA.

Share on Facebook
Bookmark this on Delicious
Bookmark this on Digg
Share on reddit
Share on LinkedIn
Bookmark this on Yahoo Bookmark

Comments are closed.

1 Trackback to "The banks won’t help you, but you must help the banks"

  1. on August 21, 2009 at 11:45 am