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Hi Skinflint - That is consistent with them accepting proxies from non 'natural persons' but not accepting proxies from you (or sending them to you with your AGM invite). To do so would be a breach of the act.Item (2) in the AGM agenda was "accept proxies (if any)".
Hi Darag - It's not a matter of opinion. It is a matter of fact. The members own the CU. What benefits the CU benefits the members. There are questions about how the members can get access to these benefits, but the benefits become the property of the members. It is a mutual organisation.i simply don't agree, rainyday. just because something benefits the cu as a whole doesn't necessarily mean it enefits an individual member.
It's not a matter of opinion. It is a matter of fact. The members own the CU. What benefits the CU benefits the members.
i simply don't agree. if you want to argue about facts rather thanIt's not a matter of opinion. It is a matter of fact.
this is ridiculous. if i give the union a grand in interest on a loanWhat benefits the CU benefits the members.
i don't see why you think being a mutual organisation axiomaticallyThere are questions about how the members can get access to these
benefits, but the benefits become the property of the members. It is a
mutual organisation.
Because the members own the organisation - plain & simple. If I pay 1,000 in interest to my CU, that money goes 'into the pot' and is owned by all members of the CU. So what benefits the CU benefits the members.i don't see why you think being a mutual organisation axiomatically
Also, although the APR may seem higher, the euro cost to repay a CU loan is lower than from a bank.
My question was how a higher APR loan from a CU could cost less to repay than a loan from a bank. The example you have given deals with a lower APR at the CU, which will obviously be cheaper.Also, although the APR may seem higher, the euro cost to repay a CU loan is lower than from a bank.
In practice, I get no benefit and lots of people are losing out as a result of their commitment to the mutual ideal. To argue otherwise, is to ignore the reality.
Critics of the CU do not consider that banks will give literally nothing but the bare minimum of service to people on social welfare and anybody on less than the median wage. And the CU is brilliant for people like me who had debt problems in the past that are now resolved but will continue to linger on the credit report for a couple of years - they take into account what you can afford to pay, not something that happened 3 or 4 years ago that may no longer be relevant.
I think much of the criticism of the CU is highly unfair.
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