In todays news Sandy Maier is saying SCF has been battered by the AH Stat Man. Seems SCF can continue to pay maturing investment's "for now". Reinvestment take ups have slowed and South Islanders are being urged to put their money with SCF - if the money doesn't come in SCF won't survive.
In the meantime SCF survives solely with the support of the Ext Dep Guarantee - with their rates significantly higher than competitors. SCF is at 8% while
- Equitable = 5.7% / 5.9%
- F & P 6.75% or 7.25
- Marac 6% / 4%
- PGG 5.95% - 6.45
If you had cash why would you not be flocking to SCF - probably because punters realise that the significantly extra interest isn't worth the risk of having their deposits tied up for who knows how long in the event of the Dep Guarantee kicking in.