For years I have been a member of the Glasgow Credit Union as had been a City Council employee. was not so interested in the benefits of loans (people who take a loan pay no extra and it comes out their monthly paying in). For a while it was a great 5% annual sum you got back and in due course started to decline but even routine bank situations had been worse! So last year i increased my annual monthly payment but now found out we are getting damn all back this December!
Your "payments" buy shares in the institution, RJ. When it doesn't do well, neither do you... Hope for better times!
Hi O. I would like better times as I am paying in a fair amount each moth. It is a large organisation but the benefits it has did not affect me I liked the non-taxed sum you got annually at Christmas. Having started in a large background - the City Council did well then started going down and in 2019 just above 1 percent so put more in and now getting no damn interest! Even banks and building societies as bad. Worse than a crazy woman wanting to kiss me!
Forget about crazy! Is she cute -- ahem, I mean, comely? Go for it! (I hear tell, you only live once! But even if not, some kutchie-coo might take even a Scotsman's mind off his money... :) ))
Well there is a positive coming from across the pond! And jings i did not think that a possibility. With even bank accounts being so low almost negative I am all for woman kissing.
Good for you! Soldier on... :)
Rj and Trump have a lot in common. Most of which fit into the symptoms of a narcissistic personality.
I would say that perhaps in real life you might not have much of an influence noted so a forum gives a wee chance of feeling important. Just a pity it is made as would maybe help you a bit!
For greater brain using folk I would state very directly and factually that interest rates on bank accounts, credit unions and such are at their lowest for years. Indeed many bank or credit unions are less than even 1%! :o
I am currently considering changing from a local bank that has recently become much more corporate (bought out by a corporation) to the local credit union. Interest rates on a HYSA are 1.8%, much better than my current 0.25%.
Years ago I opened an account with my city council credit union (was involved in my city structure at the time) because it gave an annual income non-taxed of course at 5% and more than my regular bank situations. History now along with the banks.
The low interest rate on your shares, RJ, benefit your Credit Union's borrowers. Are they not deserving?
Only to a degree as you should know! If it was not for many people like me putting in reasonable regular sums then borrowers would not get what they want! Okay if they get a loan it is very good and they do not pay anything extra but without folk like me they would have a problem! :)
Er, okay... But they -the borrowers- too were and are contributors. A credit union is a co-operative enterprise. Had you never considered that tough times too would be shared?
Well they are being being shared because my healthy contribution is giving me no damn income at all while they borrowers get a better situ than with a bank! For a while my large CU seen me increasing deposits as getting more than from my bank - or any bank!
Yup! There's a lot to be said for credit unions, as opposed to banks.
Yes you are right there Oakdale. For folk wanting a loan they can have that without ny further payment into their account just means less saving and their offers are better I would think. I was just a bit niggled when I suspected interest would be down again like December 2019 but did not expect it to be zilch this damn year! Have sent an email in saying a bit niggled at no interest and just as well I am cumfy! :lol: