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  • FIRST POST
    • Former MSE Wendy
    • By Former MSE Wendy 4th Jun 08, 2:41 PM
    • 868Posts
    • 1,782Thanks
    Former MSE Wendy
    Credit unions discussion
    • #1
    • 4th Jun 08, 2:41 PM
    Credit unions discussion 4th Jun 08 at 2:41 PM


    This thread is for discussion of credit unions, as mentioned in the Cheap Loans article. Also, see the Credit Unions guide.

    Click reply to ask a question or discuss.
    Last edited by MSE Helen Saxon; 28-03-2013 at 2:31 PM.
Page 2
  • norathetiger
    I have been with Glasgow Credit Union for the past 5 years and they are great.
    Dont go to your bank for a loan, join a local Credit Union.
    • datostar
    • By datostar 24th Aug 10, 11:19 AM
    • 1,020 Posts
    • 615 Thanks
    datostar
    Some of the larger Credit Unions pay quite reasonable dividends on savings and ISAs. Maybe not as high as some interest rates available elsewhere, but their offers usually come with strings attached like 1yr bonuses, restrictions on withdrawals etc.
  • Watalie
    I joined my local Credit Union on Saturday - just waiting for the account activation to come in the post now
    • darkblue
    • By darkblue 31st Aug 10, 12:35 PM
    • 656 Posts
    • 807 Thanks
    darkblue
    I'm a member of a local CU. They're good rates of interest (dividend payments, actually) and I hear that the loans are good value, but I've never had one personally.

    My local CU do mortgages, bank accounts, kids accounts, etc. The only problem is when transferring money. I have to email someone who may not receive it straight away and then it takes 3-5 days from the date he receives my request to transfer funds from my savings account. Although I'm told that I can collect it in cash with 24 hours notice, or a cheque with the same day notice.
  • manda.jenkins
    Credit union loans
    Hello,i was wondering if anyone could give me some advice? I applied for a 'helping hand' loan with my local credit union (liverpool) and am now awaiting a decision,they said it would be about 10 working days until I hear from them. I have a poor credit rating due to debts of about 600 pounds that i am now paying off. Does anybody know the likelyhood on me getting this loan? I am worrying about the descision as I desperately need the money and dont want to wait ten day so was just wondering if anybody can give me a heads up on what the decision is likely to be? I have £35 per week 'disposable income' if that helps. Thanks
  • spr6wo
    Black Pear Credit Union (Worcester)
    I have been saving regularly with the Black Pear Credit Union in Worcester for about a year now, they have just announced that they are no longer accepting applications for loans and are closing down.

    I am really disappointed as I wanted to apply for a loan with them but now can't so the time and effort I have put into saving with them (and thus building a 'credit history' with them) has been wasted.

    Can anyone suggest an alternative?

    Many Thanks
    Steve
  • Dr_Cuckoo3
    I have been saving regularly with the Black Pear Credit Union in Worcester for about a year now, they have just announced that they are no longer accepting applications for loans and are closing down.

    I am really disappointed as I wanted to apply for a loan with them but now can't so the time and effort I have put into saving with them (and thus building a 'credit history' with them) has been wasted.

    Can anyone suggest an alternative?

    Many Thanks
    Steve
    Originally posted by spr6wo

    I am not a fan of credit unions although I have accounts with some


    The following credit unions accept applications throughout the UK - I assume that Black Pear were the only credit union in your area

    Norwich credit union

    http://www.norwichcreditunion.org.uk/ (see application form for details)

    Plaid Cymru credit union

    http://www.ucpccu.org/

    Oddfellows

    http://www.manchesterunitycu.co.uk/
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • sharpy2010
    Can anyone suggest an alternative?

    Many Thanks
    Steve
    Originally posted by spr6wo
    Your bank?
    • antrobus
    • By antrobus 21st May 11, 7:43 AM
    • 15,351 Posts
    • 21,897 Thanks
    antrobus

    Plaid Cymru credit union

    http://www.ucpccu.org/
    Originally posted by Dr_Cuckoo3
    Plaid Cymru is the Welsh (nationalist) Party. I think that you might well have to become a party member in order to join their credit union. Not a problem as fas as I'm concerned, but some people are funny about that sort of thing.
  • summerstreetallotments
    Stroud has a good credit union...you could join that and pay each week/month with a direct debit....they also give out loans to people who have not built up a credit history with them...you may have to pretend that you live in the catchment area though....White City Credit union in Gloucester might suit better...other alternative is to set up your own,,,,
  • summerstreetallotments
    Credit unions are much fairer than payday loans and doorstep lenders..
    • jay1181
    • By jay1181 21st May 11, 9:56 AM
    • 156 Posts
    • 68 Thanks
    jay1181
    I would love to join our local one but as one of my neighbours runs it i wouldnt like them knowing how much savings ect we had with them if you get my meaning but if she wasnt the general manger/director of it i would have joined up to place regular savings as some of my wifes family do.
    • geoffky
    • By geoffky 23rd May 11, 5:34 PM
    • 6,602 Posts
    • 9,241 Thanks
    geoffky
    The best thing anyone can do is join your local credit union and cut out those crazy bank charges.....i really hope that they will come to every town and city in the uk.
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
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