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December 19th, 2010 at 1:16 pm
A small local Credit union in TORONTO showed remarkable prudence whereby a surplus of required reseverves ( $ 1.8 million) was returned proportionaltly as a rebate to all who held either a mortgage or line of credit .Although there rates were slightly higher than the big banks it seemed like a important alternative to what been going on. It would be a diservice to create another avenue for the banks to have the oportunity to attack and take over this sector.
When are we going to control the relentless concentration of the banks and there preferred status sucking up all the capital in our communities?