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Dot ComUnity Credit Union - ISA

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  • Me too, it does not say anything about the divi that was posted in the other thread. Maybe that will all be explained in the letter that is due also.
    Why not put it all in the e-mail??????
  • hgt
    hgt Posts: 341 Forumite
    Part of the Furniture 100 Posts
    Does anyone know how the divi works? I guess that is only paid based on the balance of your share account. So for most of us that will only be £5 so the divi would only be a matter of pence!
  • that's what i think too
  • Joe_Bloggs
    Joe_Bloggs Posts: 4,535 Forumite
    edited 7 February 2015 at 10:56PM
    The PRU seem to be draconian when it comes to the regulation of Credit Unions. I suspect the deposit side overtook the lending side given the messed up monetary system we have at present. Too much cash seeking an obvious return.

    Perhaps the Chancellor of the Exchequer has something planned in his next budget that will allow cash ISA savers to access markets that lend to personal \business borrowers via existing/new peer to peer institutions ?
    J_B.
  • MARTYM8`
    MARTYM8` Posts: 1,212 Forumite
    Eighth Anniversary 1,000 Posts
    Just a heads up again.

    Has anyone actually received any follow up emails or letters from DotCommunity since last week e.g. the annual statements promised. Have they re-opened now for savings withdrawals and new investments?
  • Steve3S13
    Steve3S13 Posts: 91 Forumite
    edited 14 February 2015 at 3:01PM
    I have not received anything but If I remember correctly, but I may just be imagining this, in that other thread where the e-mail was posted and then removed I think it said statements would be issued at the end of March. To coincide with the end of the financial year?
    I have 1K I want to deposit but I'm in two minds
  • MARTYM8`
    MARTYM8` Posts: 1,212 Forumite
    Eighth Anniversary 1,000 Posts
    Steve3S13 wrote: »
    I have not received anything but If I remember correctly, but I may just be imagining this, in that other thread where the e-mail was posted and then removed I think it said statements would be issued at the end of March. To coincide with the end of the financial year?
    I have 1K I want to deposit but I'm in two minds

    I got an email last Saturday which said 'we are sending out annual statements' which will include more details on recent developments etc - which implied it was happening imminently?

    It really would be a lot easier though if they just added a message to the credit unions homepage with an FAQ - and saved on the postage.

    http://www.dotcu.org.uk/creditunion/
  • I never got that e-mail.
    :(
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    It's a confusing outfit.

    The 2 alarming emails on Jan 7 and 16 were signed by "Richard Nichols Secretary" and "Richard Secretary" (presumably the same person).

    The email of Feb 6, advising that all is honkey dory was signed by Rob. Whoever that may be. It read:
    Dear Member

    Over the past month, the Credit Union has been working to implement and maintain the regulatory requirements regarding Capital and Reserves.

    We are delighted to announce that DotComUnity Centres CIC has invested £425,000 into the Credit Union on behalf of all its members.

    This investment means that our Capital Reserves are significantly greater than the 5% requirement and as a result the Credit Union has applied to the regulators to lift the voluntary restrictions.

    We are sending out Annual Statements, where further information will be provided.

    Have a great weekend.

    Kind Regards

    Rob

    You got to wonder why a near half a million investment wasn't a good enough reason for Richard Nichols to follow up his earlier alarming emails. I also note that not all the alarming issues have in fact been addressed by Rob.
  • MARTYM8`
    MARTYM8` Posts: 1,212 Forumite
    Eighth Anniversary 1,000 Posts
    Steve3S13 wrote: »
    I never got that e-mail.
    :(

    There were two emails - one which some people got on Thursday 5th (see here) and a different less detailed one sent out to me and others (who didn't it seems get the first one) on Friday 6th. And others have had nothing at all?

    https://forums.moneysavingexpert.com/discussion/5169831

    Very odd - why not send the same communication to everyone?

    PS Who is Rob?!
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