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VERY Surprising Action By A Credit Union

Thursday, November 25, 2010 - 2:23 PMAFTRA-SAG Credit Union - Details
Article in today's Los Angeles Times tells of the AFTRA-SAG Federal Credit Union in the Los Angeles area asking its larger depositors this week to please withdraw money. 

AFTRA-SAG credit union asks members to withdraw some funds | Company Town | Los Angeles Times

The CU says it is because they have too much money on hand without enough borrowers to lend it to. This, despite their Website today showing their interest rates on savings and CDs to be very low. 

Might this show the economy bringing even more pressure on credit unions and banks to reduce rates even further and take other steps negative for savers?
me1004me1004373 posts since
Jan 16, 2010
Rep Points: 2,596