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Asset Finance, Fisher&Paykel Credit Union, UDC and United Credit Union approved

Posted in News November 28, 2008 - 08:26am, Bernard Hickey

Whakatane-based personal loan finance company Asset Finance, Fisher and Paykel Credit Union, the ANZ owned UDC and the United Credit Union have all been approved by the Treasury for inclusion in the Deposit Guarantee Scheme.

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3 Comments

by AH | 28 Nov 08, 9:24am

Do these guys need to

Do these guys need to pay additional premiums for having the guarantee ? As a tax payer, Im not happy that I am supporting finance companies tax on high risk/high reward business.

by Bernard Hickey | 28 Nov 08, 9:26am

AH The simple answer is

AH

The simple answer is not for their existing deposit levels. They do pay a surcharge for deposit growth from their levels just before the introduction of the scheme. The big banks do however have to pay. Needless to say, they're also grumpy about it.
cheers
Bernard

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