If more people transfer their accounts to credit unions it couldbe a mixed blessing for some credit unions. However, that's achallenge credit unions would be glad to worry about.
Credit unions may have to find ways to invest the money theywould receive from new deposits that could come on or around theso-called Bank Transfer Day on Nov. 5. That could be a challenge becauseof low interest rates and caps on business loans, according toseveral industry experts.
“The new deposits push credit unions in a tough position becausethere is an increase in liquidity with nothing to invest in,'' saidformer NCUA Board Member Geoff Bacino.
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