how to join a credit union when there's none near?

johnjt

Hello,

I'm a first-time poster, so pardon me if this is not the correct thread.

Basically I've had accounts with high-street banks but they've been irresponsible with my money and generally dishonest. Now I am trying to find a credit union or some other organization for a current account. What are my options? I live in Guildford and there don't seem to be any credit unions in this area.

The main thing is just to have a debit card, you need it for day-to-day transactions. I don't need an overdraft, I don't get into debt (no matter how much the banks would like me to).

A good savings rate would be nice, but the most important thing is trustworthiness and a responsible attitude from customer service, etc..

Any advice?

J.

JoeCrystal

You would be pleased to know that since there is no credit union whatsoever in Surrey that the local Councils are going to create one. It is called 'Surrey Save Credit Union'. No idea when it will be done but here is the link:

http://www.woking.gov.uk/benefits/recession/surreycreditsaveunion

johnjt

I heard of that, but I can't wait. What are my options in the meantime? Does anybody know an honest financial institution, preferably with some independence from the crooked mainstream?

JoeCrystal wrote: »

You would be pleased to know that since there is no credit union whatsoever in Surrey that the local Councils are going to create one. It is called 'Surrey Save Credit Union'. No idea when it will be done but here is the link:

johnjt

What about the post office? Are they trustworthy? Do they have a debit card and a reasonable interest rate?

BruceyBonus

johnjt wrote: »

What about the post office? Are they trustworthy? Do they have a debit card and a reasonable interest rate?

They don't do current accounts.

I'm not sure what you mean by "irresponsible with my money" but if you mean ethics, then Co-op bank have an ethical policy which is also followed by their internet subsidiary Smile. Nationwide offer a current account - they aren't a bank. Also Coventry Building Society do current accounts. If you mean bank charges or closing your account or withdrawing your overdraft then you'll get this anywhere you have a current account (if they don't impose a charge then they'll just close the account on repeated breaches).

baby_boomer

johnjt wrote: »

Does anybody know an honest financial institution

Do you mean one that honestly charges you for the cost of maintaining a current account or one that pretends to give it to you for free?

Why would you want to join a credit union unless you wanted a cheap loan? The interest rates on savings are abysmal.

As for the Post Office and current accounts:

Mirror - Post Office may offer current accounts from 2010

johnjt

I once applied to the Co-operative Bank and they said sure, we'll send you the details. Two weeks later, instead of a card, they sent me a rejection letter! It was very awkward because I was counting on the account at the time.

When I say "responsible" I mean not messing people around like that. I mean not making little bogus charges. I mean not letting merchants make charges you haven't authorized. I mean not giving you customer service from Indians who are not empowered to help you at all.

I am trying to get away from the mainstream system, but the Unco-operative Bank is part of that system.

Any more suggestions?

BruceyBonus wrote: »

They don't do current accounts.

I'm not sure what you mean by "irresponsible with my money" but if you mean ethics, then Co-op bank have an ethical policy which is also followed by their internet subsidiary Smile. Nationwide offer a current account - they aren't a bank. Also Coventry Building Society do current accounts. If you mean bank charges or closing your account or withdrawing your overdraft then you'll get this anywhere you have a current account (if they don't impose a charge then they'll just close the account on repeated breaches).

johnjt

baby_boomer wrote: »

Do you mean one that charges you the cost of maintaining a current account or one that pretends to give it to you for free?

I don't want a loan or an overdraft. If I did want to get into debt, the banks would love me, because they could charge me interest and make my life more complicated.

I am looking to escape that whole debt-driven system and find a simple old-fashioned account with just a debit card. What is the most straightforward course?

Baldur

BruceyBonus wrote: »

They don't do current accounts.

They have, according to reports, been considering offering a basic one in 2010 - http://www.money.co.uk/article/1001999-post-office-may-launch-basic-current-account.htm

Many of the Post Office's financial products are currently provided by third parties, such as Bank of Irelandand Family Investments.

At least some Credit Union current accounts appear to make a weekly charge for their current accounts - e.g. Southwark CU's Application Form.

BruceyBonus

johnjt wrote: »

I don't want a loan or an overdraft. If I did want to get into debt, the banks would love me, because they could charge me interest and make my life more complicated.

I am looking to escape that whole debt-driven system and find a simple old-fashioned account with just a debit card. What is the most straightforward course?

Any account with any bank will give you this. If you can stay in the black, instead of the red, you won't be charged anything. Seems simple enough to me.

As I said above, some building societies offer current accounts, e.g. Nationwide and Coventry.

johnjt

OK, then, does anybody have suggestions for banks who have been reliable and trustworthy for them over a long period?

Not Barclays, HSBC, Co-operative, or Natwest....

It seems there are horror stories about every bank really... that is why I am looking for suggestions from people who understand the pitfalls.