credit union borrowing not a fast option

[quackquack]

credit unions are not a fast option to borrowing but are cheap .they take time and to borrow from them you have to save with them for a few months first :whoo:

[rebel11]

Hopefully in the near future they won't be so rigid. Big opportunity for them to grow,

[asmilecostsnothing]

Please people need hope - don't diss the unions Yes you have to save a little but this should be manageable once people drop of the PDL's - their income normally spent on paying interest and roll on's of the PDL's along with the cut backs needed to make changes can then go into that savings account - thats the way I see it for the working folk anyhow, with money saved and safely away it is there when you need it for the next emergency and could enable you to apply for a loan?

WHOSE HANDS WOULD YOU RATHER BE IN?

Edited January 23, 2012 by asmilecostsnothing

[rebel11]

Totally agree,

 

Please people need hope - don't diss the unions Yes you have to save a little but this should be manageable once people drop of the PDL's - their income normally spent on paying interest and roll on's of the PDL's along with the cut backs needed to make changes can then go into that savings account - thats the way I see it for the working folk anyhow, with money saved and safely away it is there when you need it for the next emergency and will enable you to apply for a loan?

[silverfox1961]

This really does depend on the area you live in.

A friend on mine lives in Leicester and went to her credit union for a loan. This was given immediately on condition that she set up an account. She has her child benefit paid into this account and the CU take her payment from that.

Hopefully more Credit Unions will follow this route

[rebel11]

Good stuff.

 

This really does depend on the area you live in.

A friend on mine lives in Leicester and went to her credit union for a loan. This was given immediately on condition that she set up an account. She has her child benefit paid into this account and the CU take her payment from that.

Hopefully more Credit Unions will follow this route

[asmilecostsnothing]

I realise it does wildly differ area to area as in how long you have been a member and would try make people aware what works at mine may be totally different to theirs, I also meant no offence to people out of work in my earlier post eeek sorry feel kinda bad now just trying to see it can get better as someone on this learning curve, I actually had misjudged messed up views about CU but it sure beats using payday loans or the local slug & thug in the long run to get by when you've messed up !

 

 

There is no harm in finding out? and it doesn't cost to go look at the individual website !

[quackquack]

my post above was simply to say it as it is and not give false hope regards credit unions ......and not everyone will be able to loan with them so giving false hope is bad advice so I'm telling it as it is

[asmilecostsnothing]

Why then, can't they help you?

 

I also believe in telling it how it is x

Edited January 23, 2012 by asmilecostsnothing
change of word

[asmilecostsnothing]

http://www.dailymail.co.uk/money/saving/article-2086767/Major-boost-credit-unions-clip-payday-lenders-wings.html

[quackquack]

i am with a union through work only joined 4 months ago to save now all my pdl have been paid.........they cannot help everyone who has large amounts of debt but as u say where u live depends on which union helps you but for saving its great and if u can loan with them even better but again i dont give false hope ok:!:

[quackquack]

:!:and so this story ends

[LaughingGirl]

This really does depend on the area you live in.

A friend on mine lives in Leicester and went to her credit union for a loan. This was given immediately on condition that she set up an account. She has her child benefit paid into this account and the CU take her payment from that.

Hopefully more Credit Unions will follow this route

 

This is also true of Hampshire Credit Union - they will give a loan without initial savings as long as you open one of their current accounts and have your wages/benefits deposited directly. It's a shame CU's aren't a bit more consistent, but I suppose it depends on their credit license? It's still not an 'instant' process though - most take a week or two to make a decision and deposit funds.

[rebel11]

Credit Unions wanted the government to review the existing regulations so they could extend the benefits to more people, they are always going to be people they can't help and thats obvious, they should be able to help a lot of people with Payday loans.

 

 

i am with a union through work only joined 4 months ago to save now all my pdl have been paid.........they cannot help everyone who has large amounts of debt but as u say where u live depends on which union helps you but for saving its great and if u can loan with them even better but again i dont give false hope ok:!: