tag:blogger.com,1999:blog-5460637983397119698.post5266156888998314546..comments2008-09-22T15:19:38.138+01:00Comments on IRISH CREDIT UNIONS VOICES FOR THE FUTURE: Government announces Credit Union savings protecti...Monty Cardiganhttp://www.blogger.com/profile/16273003125079163797noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5460637983397119698.post-18644654850721211992008-09-22T13:00:00.000+01:002008-09-22T13:00:00.000+01:00Thee is a big difference between a State guarantee...Thee is a big difference between a State guarantee and a 'backstop'. Credit Unions should participate in the DGS on the same basis as banks. They would only need to contribute 0.2% of €16bn savings or €30m from the existing SPS fund. There is a single Financial Regulator, a single Financial Services Ombudsman, why not a single Deposit Guarantee Scheme. It would also put an end to the ILCU's pretence of self-regulation in the name of savings protection. Forget the League's SPS, invite direct contributions from Credit Unions to the DGS. They will opt for the €100,000 cover.Anonymousnoreply@blogger.com