Credit Union Fees & Charges

The Dasher

Hi
Was wondering have Credit Unions started charging fees & charges like the Banks do. I recently moved to live in Gorey, Co Wexford and the local credit union here called Altura have a long list of fees and charges for everything just like the Banks. Is this unusual? I didn't think Credit Unions charged like that.
Because of this common bond am I restricted from joining one of the others down here that don't charge for everything. Any help or suggestions appreciated
Thanks

Spocker

Is this the list of fees? https://www.alturacu.ie/Fees-Charges

Some of those are part of every Credit Union (remember, they are all independent) such as a membership fee (€1) and Affiliation Fee (0.90).

The other fees are related to issues with Cheques (which are expensive to process) and unpaid direct debits. I guess these are charges that they may choose to pass on to the member, rather than absorbing the cost, which would just reduce any dividend that might be paid.

If you use your Credit Union counter services, and don't use cheques, looks like you could avoid most of those fees.

Are you working in the same area? Are there other Credit Unions available to you?

dudara

Moved to Banking, Insurance & Pensions

dudara

The Dasher

Thanks Spocker.
It's not the €1 membership or affiliation fees that bother me, it's the €5 and €10 fees and these are the ones that are visible!

The dividend being paid is so small that I'd prefer pay no fees and get no dividend.

I work in the catering industry which unfortunately doesn't pay well so want to minimise my costs.

Unfortunately there is no other credit union close by only Altura so I think i'll have a look at other institutions like an post, they seem to have interesting offers at present.

Spocker

Yes, an An Post account might work for you too, here are a list of their fees, for comparison https://www.anpost.com/Money/Current-Account/Fees