Credit Union Baywide makes multi million dollar loan to Co-op Money NZ, the industry association for member owned credit unions and its key service provider

Credit Union Baywide makes multi million dollar loan to Co-op Money NZ, the industry association for member owned credit unions and its key service provider

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I wonder if the directors of coop money are trading recklessly. Is such a loan collectable. Is such a loan of a capital nature. If so how does it impact on Baywides capital ratio

What does this mean for the capital notes held by all the other credit unions. Maybe time to shut up shop and take the write off.