Out of curiousity has DVC ever suspended banking or borrowing

[jaysue]

Has DVC ever had to suspend banking or borrowing to keep the points distribution "even" from year to year?

Thanks
jaysue

 

[Regina]

Starting from day one of the program, no this has never happened.

 

[manning]

Isn't this provided for in the contract. It would be hard or impossibe to change.

 

[Dean]

Originally posted by manning
Isn't this provided for in the contract. It would be hard or impossibe to change.

Yes it is. It's written that they can do it if they want. If it didn't happen with the Millennium, I doubt it's something we have to worry about for some time to come. I'm sure the last few years we'll see some changes and this is likely one of them but I suspect it will come very late, say the last 3 years of the program.

 

[PamOKW]

Manning, the wording is to the effect that banking and borrowing can be discontinued or suspended at DVC's discretion. I think it's a safeguard to keep the system in balance. We couldn't all bank all our points in one year.

 

[nhmomx2]

I think this will only happen at the end of all our contracts...2042!!!

 

[jaysue]

Haha - I was thinking 2042 as well.....

Thanks
jaysue

 

[Caskbill]

Actually the only change they've ever made is to expand it.

When we first purchased in 1993 you could bank 100% of your points, but could only borrow 50% maximum. This would give you a maximum of 250% in any one year: (bank 100%, current 100%, borrow 50%)

Shortly after they changed it so you could borrow 100% also, and it's been that way ever since.

It's never been suspended.