The Fall Of HCU

[-Kevin-]

Liabilities

Total: $776 million including:

Members’ deposits/shares—$700 million.

Loan from Exim Bank, USA—$24 million.

Borrowing from Intercommercial Bank— $12 million.

Mortgage from Clico—$35 million.

Assets

Total assets: $623 million comprising:

Fixed Assets—$181 million.

Investment properties—$185 million.

Loans to members—$164 million.

Available for investment—$33 million

Investment in subsidiaries (litigation)

—$60 million

How can we have trust in credit unions again? Have Mr. Harnarine mismanaged our funds for personal gains. What is the real story on this, because I am a member,,and I also have money there,,,,so what are the laws of credit unions,,,that they cannot guarantee your shares value. And the governement is not coming forward on this issue. Its sad but true.

- "Bye Bye HCU " -​

 

[RauCous]

I glad i keep my money in my mattress yes.. That's ALOT of money! I sure most people will get thier money back. Just those who have the most to lose first.

 

[-Kevin-]

They Will Get It Back.. But The Question Is When???

 

[admin]

They will get their money back but with no interest but you know if some was saving their money their for say 5 years you know what their could have does with that money like put their money in UTC and get some interest but now they are getting back the same money

 

[Resha]

They say next six months then the customers will get there money..... Somehow i don't believe that in fact all credit unions are a waste of money!!!!! They say the next to fall is Unit Trust Co. so be aware people.......

 

[-Kevin-]

Lol Yea Resha.. Gladiator, Inshan Ishmael And Them Other "People Politicians" Does Talk Rel Bacannal Boy Ay..

 

[admin]

Wtf serious i going to take out my money fast yes i want my interest lol omg

 

[-Kevin-]

They Dont Know For Sure Ryan.. People Jus Sayin That..

 

[admin]

Waay people you are making me so frighten lol ways, If that happen their will be some law sues

 

[-Kevin-]

^LOL.. There's Always Some Fine Print.. You Could Never Sue Them.. They Have Money.. You Suein Them BECAUSE Of Money.. So Who You Think Go Win?.. Lol..

 

[admin]

I not saying me you know their are alot of big people in UTC and they will not take it so easy

 

[-Kevin-]

Yea.. Guess We'll Jus Have To Wait An See..

 

[LadyDeath]

LOL^ That real sad to hear wah happen to HCU thank God My Mummy And Daddy Keeps My Money Yes :icon_cool:

 

[RauCous]

Yeah lets hope they at least had good bookkeeping. Cuz next thing members go and they hear their names were never registered lol. That would suck. I wonder how much it was worth when they liquidated it, hopefully everyone could if only in theory get back their piece... assuming it was still worth the money it owned... or owed. lol.

 

[lantern]

:icon_rolleyes: so sad i had money dey too

 

[Resha]

Did you all hear another credit union called the Neal and Massy Credit Union also closed down....
As i said before credit union is a waste of money!!!!!

 

[Resha]

The radio station are going down.... Radio Skakti which is run by HCU has a deadline for 19th August pending the decision of the courts.....