investment group

mydog_2

Hi, some time ago i saw on these pages a notice that an investment group of "MONEY SAVER" devotees was starting in the West Midland town of Dudley,I live near Kidderminster, so,is there a group near me or is the nearest Dudley, could some one contact me please.

Milarky

Did you mean an 'investment club'? - which is a legal entity, of course, and has to be properly constituted, provide accounts for its members (no more than 20 allowed) and is regulated [LOL!] by the FSA....

If anyone does has experience of these, would it not make for a separate discussion board all of its own?

I have also thought that 'credit unions' could be discussed fruitfully on this site, so perhaps the powers-that-be might consider a board covering any form of joint or collective savings or investments?

I am a member of a CU but have not (in 3 years) attended any of their meetings, just paid in regularly each month. I'm not 100 percent happy that they can legally charge 1% per month [12.6 APR?] - quite high in the current climate, but set down in 1979 when inflation meant that was 'cheap' borrowing - may pay upto 8% pa to their saving members, yet aren't required to pay any 'dividend' [interest], in fact. CUs could be giving the banks more of a 'run for their money' but I doubt they ever will - which is a shame. They also seem to be legally hamstrung and conservative, which makes for less exciting returns.

Investment clubs, meanwhile, can [from what I have heard] become 'political' quite quickly due to the low limits on their membership. Does anyone have any view/opinions on this aspect of 'investing'

So if anyone has experiences of these types of organisation, it would be nice to share those outlooks ... and maybe promote a new strand on 'MoneysavingExpert.Com'?

mydog_2

Thanks for the reply, i suppose its some sort of investment club, but i have to be vague, as it was some time ago and i'm 60