Conference 7.286::dcu

164.0. "Loss Experience" by ARGUS::BISSELL () Wed Mar 22 1989 12:57

Perhaps someone can give me an answer to a question that has been bothering
me for quite a while.

Banks and Credit unions seem to me to very similar.  They both Borrow and
lend money and pay for the use of your money and charge you to use thiers.

The big difference seems to be that most banks pay thier stockholders in the
form of dividends.  In the case of a C.U. the shareholders are the owners and
the "profits" should be returned in the form of higher payments for the 
use of your money or lower charges for the use of their money.

The differnce has to be in the expenses which could be many causes but one of
the most obvious is the potential loss experience on bad loans.

Does anyone know what the DCU loss experience is and how that compares to
other DCUs ?

    
    I'd also like to see what the DCU loss experience is with the different
    checks on which they place lengthy holds.

    I have absoultely no experience in matters of a financial nature so the
    following question may be totally off the track.  Are we, as shareholders
    of an institution or business entitled to receive a
    yearly report of howthat institution (in this case DCU) is doing.  I
    have know idea of what DCU assets are; how much money was made or lost
    last year. Nothing!
    
    Mike

    I don't know for certain, but I know that a one-page balance sheet
    is on display at our DCU office here in Landover, MD.
    
    Never tried to get a copy for myself, though.
    
    -- Russ