Credit Unions: Official MoneySavingExpert.com Discussion

Frances63

Ahai 1- The credit union I'm talking about is http://www.planesavercu.co.uk . They are very efficient. I looked at the website for the voyageralliance that you mentioned and they are still advertising 2007/8s Cash Isas so that is 2 years old! Not a good sign I would have thought.

Planesaver were doing transfers in to the Isa until 1st April but have had to stop this as they were inundated. They have to balance the deposits with loans so obviously can't take in too much money at once. However, as they lend more hopefully they will consider taking transferred Isas again.

ahai1

I am sorry if you got the impression that I like to pull people's posts apart. That is not my intention. Instead what I do is look at them and ask people questions which will hopefully be of some help to people. I know that this kind of thing has helped me in other discussions.

As for me been critical I do have the right to be critical in a discussion. It says discussion and I am taking part in a discussion relating to the article it is discussing. I am sure that people see nothing wrong in other people been critical I have raised some good and bad points about credit unions and I stand by them.

I keep posting on this thread as I feel that there are views which I can add to the thread and if people want to reply to them then they can.

I also note that you have not taken up any of the issues. I would be happy to engage in a debate if you want to discuss things like charges and credit union management in relation to the Dunfermline Building Society which raises questions about the way mutuals are run.

I have always tried to be considerate to other people taking part in the debate and at times it may appear that I am taking them apart but I am not taking apart and instead just asking questions and trying to find out more details.

This is a discussion and not cheerleading for credit unions.

Frances63 Thanks for your post clarifying it and now I understand the account and the way it works fully. It reminds me of the Saffron building society ISA which was so overscribed that they had to return applications to some people even after they were sent in.

Yes I agree given time the credit union will be able to take more money and lend more.

beanielou wrote: »

ahail1~I am slightly unware as to why you keep posting on this thread as you always seem so critical of credit unions & you seem to like pulling other peoples posts to bits.

ahai1

What is a paypoint card?

beanielou

Its a card for paying bills like council tax, gas, electric ect.
Or it is in Scotland.

ahai1

I have been informed by Camden Plus in order to set up BACS I need to verify my bank account by sending them a statement. I don't have a scanner so I suppose I have to go the branch. This is odd as no one bank has asked me to verify the linked account in that way.

ahai1

Do many people use them? The only users I can see are credit unions. Why do they use them instead of cashcards?

beanielou wrote: »

Its a card for paying bills like council tax, gas, electric ect.
Or it is in Scotland.

beanielou

I think people pay by cash but need to have the Paypoint card for transaction to go through.
Not 100 % sure.

ahai1

Here is a wikipedia article on it http://en.wikipedia.org/wiki/PayPoint. I wonder if my one can be used as a debit card? Somehow I doubt it.

I fail to understand why they issue them in the first place when the majority of members would be dealing in transferring money as most benefits and salaries are paid in a bank account.

Can someone explain the logic of giving me a card that I cannot take money out with but can pay cash with?

Dealigh with credit unions it makes me think that the banks are better at least they don't charge anything like a membership fee or insist on proof before transfering money.

ahai1

I have sent some money on the 6th of May to Camden Plus and it has not shown up yet. What should I do?

Morglin

I've been a member of Greenwich Council's Timeline CU since it opened (about 15 years ago), which I joined when I used to work for that particular council.

I just have a savings thing, the collateral of which I can use if I need a loan, and I cannot fault them - I'm not sure they do cards or current accounts.

The dividends are ok, the interest rates are reasonable and the staff are always speedy, efficient and helpful.:T

I've never been hit with any hidden charges - it's all upfront.

I don't really need to have one now, but they deduct a set amount each month from my pension, which I don't miss getting, and the savings build up nicely.

I think they are a great thing - and they are especially good for giving those on a low income a better option than having to use places like Provi, or, worse, a loan shark.

Lin