Bank Funding

setmefree

Should the Banks be supported using the Public Funds

Mikeyorks

See you took the suggestion. To fit with your philosophy and previous track record ..... shouldn't the responses be 'No' and 'No'.

setmefree

Mikeyorks wrote: »

See you took the suggestion. To fit with your philosophy and previous track record ..... shouldn't the responses be 'No' and 'No'.

Sorry but i'm not going into a debate about this,it's a simple yes or no;) but please vote

PROLIANT

Come on, nowt like a good heated debate to kick off the weekend oh yes please!

PROLIANT

How do you start off one of these poll's then?

Meltdown_2

What's the definition of "Public Funding"?
And are you including building societies (such as Nationwide) under "Banks"?

ShelfStacker_3

If the alternative is the entire banking system being affected badly (like with the Rock) then yes.

setmefree

Meltdown wrote: »

What's the definition of "Public Funding"?
And are you including building societies (such as Nationwide) under "Banks"?

Tax payers money( public funds)

Good point Melt down ref Nationwide, yes would apply to all of the banking industry

PROLIANT

And credit unions?

setmefree

PROLIANT wrote: »

And credit unions?

A credit union is a cooperative financial institution that is privately owned and controlled by its members. Credit unions differ from banks and other financial institutions in that the members who have accounts in the credit union are the owners of the credit union and they elect their board of directors in a democratic one person-one vote system regardless of the amount of money invested in the credit union.

So they would have no need for funding in the first place.;)

setmefree

Now reading more about a credit union,they do seem to help people

In the United Kingdom Credit Unions are regulated by the Financial Services Authority, or FSA. UK credit unions are classified under two types, type 1 are the smaller CUs while type 2 are larger. From November 2006 many type 2 CUs will be offering their members debit card accounts. For the first time this will enable CU members to obtain funds from any Link ATM. UK CUs will not be offering cheques as these are generally being phased out for many UK financial transactions. Many CUs are offering most of the services available from other financial institutions such as direct debits and standing orders.
Credit Unions in the UK now offer a huge range of services to their members. From standing orders to payroll deductions, from being able to send standing orders from their accounts to pay members bills to cheaper insurance facilities.
There are many benefits of joining a Credit Union, and one of these is the life insurance CU's provide their members free of charge. For example, if a member were to die then their loan value is wiped out with no further charge to member or their family and their savings with the CU is doubled and passed to the next of kin. And as recent history shows us, with Farepak, the Christmas savings club going bust and hundreds of their customers losing all their savings, the CU is a real alternative providing cheap and affordable savings and loans, knowing that you are protected if the worst happens.
Currently there is a government financial initiative mainly being operated by Credit Unions to bring financial services to the disadvantaged of society. One aim is to significantly reduce the influence of door step lenders where a £300 loan over 30 weeks involves paying back around £450. A credit union loan would require paying back around £325.

Perhaps more people should use these