Tyranna Posted March 23, 2013 Share Posted March 23, 2013 I'd trust Sheffield Credit union any day; I've been with them from since when it was the 'Manor and Castle' credit Union. I wouldn't touch any of those payday loan places, or WONGA with an extended telescopic bargepole. Does anyone know of a decent Credit Union in BARNSLEY? I have a friend there who is looking at access to loans in the future for a small business, so it would be very useful... Link to comment Share on other sites More sharing options...
megalithic Posted March 24, 2013 Share Posted March 24, 2013 Can you use these like a bank account, putting money in and withdrawing when you want ? Sounds more ethical than using a bank. Link to comment Share on other sites More sharing options...
andygardener Posted March 24, 2013 Share Posted March 24, 2013 Can anyone say what sort of return is possible if you save with them (without borrowing) I have read that credit unions can be a good alternative in these days of little/no interest on savings. I have tried to find reports of accounts for previous years but without success. I think you've misunderstood the concept. We put money in and get a very small dividend, however our money is lent out to people who have saved small amounts over a set timeframe and proved they can be responsible but due to their credit histories would otherwise be at the mercy of the likes of wonga. Bit Victorian for some but the second chance if you prove yourself first thing appeals to me so I always keep a couple of grand in there (which is all they are looking for per patron, they don't want massive deposits) Link to comment Share on other sites More sharing options...
Minimo Posted March 24, 2013 Share Posted March 24, 2013 Well, that would be ok. I don't have a massive amount to deposit. Just wondered if they might be a slightly better alternative for my modest nest egg than the average bank. Link to comment Share on other sites More sharing options...
Chris_Sleeps Posted March 24, 2013 Share Posted March 24, 2013 Can you use these like a bank account, putting money in and withdrawing when you want ? Sounds more ethical than using a bank. Not really. Their accounts don't function like regular bank accounts. They do an account for customers who need help organising and budgeting their money, but you can't pay your bills via it or anything like that. Just wondered if they might be a slightly better alternative for my modest nest egg than the average bank. You'll only get worse. It's not a guaranteed return. You could get 0%. I reckon I got around less than 0.5% pa when I had my money with them. If however, you are happy with that, because it helps some people avoid expensive credit and serves a social good - go for it. The Credit Union is a wonderful thing. Does anyone know of a decent Credit Union in BARNSLEY? I have a friend there who is looking at access to loans in the future for a small business, so it would be very useful... There is South Yorkshire Credit Union, with offices in Barnsley. How it would work with business loans, I couldn't say. It's not really catering to that market. Link to comment Share on other sites More sharing options...
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