Credit Union taken 1euro for 3rd world appeal

texas star

I have to share this as I was very annoyed with my local credit union taken 1.00out of my account for third world appeal...I rang to ask why as i had not given permission and was told its was at a AGM meeting and they had voted to donate one euro from everyone account to build a credit union in Africa.The only reason I had noticed this is that i had asked to see my savings online as its a direct debit from my wages.Its not the euro thats bugs me its the fact i wasnt told about it:mad:Dont get me wrong i like the credit union,but i didnt realise they could do this.I dont want to open a can of worms here but by the reaction from my job is anything to go by maybe poeple should look at there statements.

Anyone

Did you read your agm notice? These things are sometimes detailed there.

MarkR

It's a nice thought, but I didn't realise the credit union could decide arbitrarily to use your money. TBH, I would be looking to move my savings in the medium term.

Anyone

MarkR wrote: »

It's a nice thought, but I didn't realise the credit union could decide arbitrarily to use your money. TBH, I would be looking to move my savings in the medium term.

The credit union didnt decide it, the members voted on it. Thats how co-operatives work. Hardly the fault of the Credit Union if members decide not to vote.

texas star

Thanks for the reply I still think I should have been asked by writing as Im aware alot of people dont make AGM meetings.Whats to say that the AGM decide to 5euro out of everyone account next time.Where does it stop ?

maddragon

Same thing happened to me. What really annoyed me about it was the dividend on 500 savings was 97 cent so the account is actually losing money because of the third world contribution and the 1 euro affiliation fee. Glad someone brought this up because it feels mean to give out about a 1 euro charge to the third world. If the dividend even covered it I wouldn't mind. I do my own work for the third world and was in Tanzania for 3 weeks last year putting in a solar PV system in a school for computers and Internet. It's the illogical nature of the credit union donation that months me. What if I had just left 2 or 3 euro in an account and in a year or 2 this donation would put the account in the red and you'ld be paying interest etc.

MarkR

I hadn't realised then that the other members as a collective could vote what to do with your money. I still find it difficult to believe that the members in general can decide what to do with individual customers funds. Today could be third world. Next year could be the local gaa club.

If they asked, i'd have said yes. But to find it gone would annoy me.

Park Royal

This is done by many CU's .that is the charity appeal, I suspect if you

were so upset the Manager would give you the euro back, the deduction

does require a vote at your CU's AGM....some CU's have thousands of

members ,if they were to write to every member and ask for permission ,

there could be a significant cost in relation to that, as well as the labour

cost in arranging the postal shot and sorting out the replies.......

Some CU's deal with death benefit insurance in the same way, but joining

a confined draw is by consent !

The CU's are usually helped by Volunteers who give their time for free to

help the needy in society, and provide an alternative to the main stream

banks, perhaps giving up a few hours a week to help your CU would

allow you see how they really operate.....and make a real difference to

so many people......

Anyone

Now I didn't say the members decided on major expenses or donations(well actually they do, the Board decide, and they are members).

However, a donation to a charitable organisation is usually voted upon by the members.

As for what gets decided at AGM's, you should attend. They normally last an hour for 1 night of the year. While I can understand that people cant always make it, I would say the vast majority just cant be ársed to go. Trust me, your credit union WANTS you to attend the AGM.

Jet Black

Do they not send out a form to vote on things like this? My one sends out forms to vote on things like opening hours and new committee members or something like that.

jd83

I can see where the op is coming from here. Its great that cu are supporting charities etc. But your cu is a like bank account. They shouldnt be allowed take any money from your account without your permission. This would annoy me, it not the euro i support a number of different charities but i do so at my own discretion. If i decided i was taking 1 euro of this months loan repayment to support a charity how would the credit union react.

Janey_Mac

jd83 wrote: »

I can see where the op is coming from here. Its great that cu are supporting charities etc. But your cu is a like bank account. They shouldnt be allowed take any money from your account without your permission. This would annoy me, it not the euro i support a number of different charities but i do so at my own discretion. If i decided i was taking 1 euro of this months loan repayment to support a charity how would the credit union react.

The thing is, it's not. You're not a customer, you're a member. The OP (and every other member) had the right to vote on the issue, and probably had the right to send a representative to the AGM if they weren't able to go themselves.

Galway K9

Hi OP,

Just last year i had thsi issue and thought it was just me that got pissed over it without my permission.

I rang the CU and they said they were allowed to do this, as it was decided by AGM..

However, not believing everything i hear, I contacted the ILCU (Irish League of Credit unions) and explained the situation, they declined and said without your consent they shouldnt have done it regardless of the AGM.

I later contacted the Credit Union and they again said they were permitted, i mentioned the ICLU and she debated it still, the ILCU contacted them, and within a week, i got an apology and this year i wanted to see would i get the Third World charge and i didnt.

hmmm

I can't believe they took money directly from your account. The members at the AGM can do what they want with the profits of the CU, but they can't just go dipping into your bank account - can they? What's to stop them voting through more funds for charity next year, or a new parish hall, or funny hats for dogs?

dotsman

hmmm wrote: »

but they can't just go dipping into your bank account

But it's not a bank account!!!

hmmm wrote: »

- can they? What's to stop them voting through more funds for charity next year, or a new parish hall, or funny hats for dogs?

There's no "they"/"them". If you are a member then it's "we"/"us".

BuffyBot

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