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Indiana Credit Union Drops Rates To Discourage Newcomers

Wednesday, August 18, 2010 - 6:17 AM
From the Credit Union Times:
East Allen County Federal Credit Union said it has dropped its interest rate to 0.1% in an effort to manage the surge in new money that came in over the past year.

This is one example of what happens if deposits grow too fast at an institution. It's not good news for savers.
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Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
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