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Posted: Sat Dec 31, 2011 3:54 pm
by plasticdaft
Just looking into savings options for life after our trust deed and wondered if anyone had anything good or bad to say about credit unions? I always thought they were for people on benefits to save up for xmas but really have no idea about them.
Thanks folks.
Paul
Posted: Sat Dec 31, 2011 5:20 pm
by kallis3
I think credit unions are a good thing if you have one close to you.
There are several police forces who run credit unions. They are a good thing.
Posted: Sat Dec 31, 2011 6:42 pm
by Adders
I was with a credit union throughout my iva. When the iva finished they agreed a loan to finance a car. Stating they look at ability to pay and if I can pay an iva for five years then now its finished I can afford the loan.
Posted: Sat Dec 31, 2011 6:59 pm
by MerlinL14
My daughter is in a credit union and has nothing but good things to say about it, I assume they all run within one set of guidelines so other than the staff's attitudes I would say they must all be the same.
Posted: Sat Dec 31, 2011 7:11 pm
by wickerwish
I have a savings account with our local credit union and also had a current account with them. I cancelled my current account because they started charging a pound a week to keep current account open. Yes I know I'm being tight fisted for closing my current account but if I'd have kept it open it would have cost me £250 whilst in my Iva.
Posted: Sat Dec 31, 2011 7:21 pm
by kallis3
I've got an esavings account with Barclays and that does for me.
Posted: Sat Dec 31, 2011 10:39 pm
by plasticdaft
The NHS do one up here(wife could join) and I can join the big transport one. They both paid a dividend last year of double and a bit more than any other basic saving account.
Cant believe I am talking about saving money!!!!
Paul
Posted: Sat Dec 31, 2011 10:59 pm
by kallis3
Nice one Paul - I'm sure you can do it!!
Posted: Sat Dec 31, 2011 11:02 pm
by plasticdaft
I am sure we can ALL do it Jan. We are all 2nd chancers and its up to us what we do with that chance.
Paul
Posted: Mon Jan 02, 2012 9:53 pm
by MelanieGiles
They are very popular in Northern Ireland Paul, and a lot of my former clients are finding them a good way of savings - but anything is good so long as you are disciplined and you earn a good rate of interest.
Posted: Mon Jan 02, 2012 10:48 pm
by plasticdaft
Thanks Mel,I noticed that figures show 50% of people in Northern Ireland are members of credit unions,its lower in Scotland but they seem to offer a good way of saving and perhaps a safer way to borrow small affordable amounts.
I cant believe we may actually manage to put some money aside,its a very alien concept to us.
Paul
Posted: Mon Jan 02, 2012 11:48 pm
by MelanieGiles
You have done so well and are a shining example of someone who has seriously wanted to address their debts and has done so. Hope you will stick around once the PTD is over!
Posted: Tue Jan 03, 2012 8:36 am
by plasticdaft
Oh Mel,you won't get rid of me that easily! I shall be sticking around for a long while yet!
Paul
Posted: Tue Jan 03, 2012 4:03 pm
by plasticdaft
Well the co operative bank have turned me down for their basic saving account which involves no credit whatsoever yet I failed the credit check!!! Rather amusing,and looks like the spare money(after fixing roof,fence and wall),will be going into a credit union.
Paul(arent banks silly)
Posted: Tue Jan 03, 2012 4:07 pm
by Foggy
Odd isn't it, Paul. The co-op are one of the easiest to get a cashminder account from when in an IVA, yet will not allow you to save !!!