Lauralashes
Registered User
- Messages
- 24
Thas not true, the vast majority of Credit Unions will pay a dividend. To the OP, the dividend paid in Nov/Dec is based on the financial year ended the 30th of September 2009. So any withdrawals after that will not affect the amount she receives in any way. There are other benefits of having money in a Credit Union, and I would urge anybody who has a Credit Union account to speak to their Credit Union. All Credit Unions are different, so what happens in one is in no way related to another, so what you hear or think, could be(and usually is) way off.
Anyone1 said:There is no source, as Credit Unions year end only just finished. Most are in the process of auditing their final accounts, and then producing their year end results.
This works both ways in the very least as you can't say that the Credit Unions are providing a better return with said missing source in mind even as said missing source is used to contest the opinion that Credit Unions aren't providing a competitive return?Anyone1 said:And you will see that Credit Unions are paying a better return than most of not all other institutions
Anyone1 said:Please show me a list of returns for deposit on demand accounts, where the average deposit is 8000 euro. And you will see that Credit Unions are paying a better return than most of not all other institutions.
By institutions I assume you mean the explicit saving accounts offered by the banks and building societies and by charges I assume you mean charges for everyday usage? Bar the exceptions I mentioned previously I can't think of any penalties for withdrawing money and I can't recall charges at all for any savings account. For example:Anyone1 said:Now add in other factors, Credit Unions don't apply any charges on your account, unlike alot of other institutions. People are not penalised for withdrawing their money either, its on demand.
TSThomas - Good 2008 source from the horses mouth. Thanks.
MysticX - Valid point.
So in 2008, 4.4% of Credit Unions paid close to what was a competitive return on your money in 2008. It would appear, based on Credit Union comments, that this figure is likely to be lower this year.
So in 2008, 95.6% of Credit Unions did not give their members what could be classified as a competitive return on their money.
Is the "great service" really worth so a low return for your money? I have found the level of service excellent with many banks such as Halifax.
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