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Is this really bad advice from Credit Union?

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Comments

  • #122
    ldy4mxonucwsq6
    Closed Accounts Posts: 1,537 ✭✭✭ldy4mxonucwsq6


    Never ceases to amaze me the advertising and product marketing that credit unions get away with, they are supposed to be regulated.

    The big 'We Lend, You Spend' sign slapped on the side wall of one in a nearby a local village would never be allowed if it was bank doing that.

    I have seen other similar irresponsible and legally questionable campaigns. Don't know how they get away with it.


  • #123
    [Deleted User]
    Posts: 14,344 ✭✭✭✭[Deleted User]


    Johnny_Fontane wrote: »
    For about the tenth year in a row, no dividend from my local credit union.

    Are any of the credit unions paying dividends?

    They basically say that the only way they will pay you a dividend in the future is to take out a loan.

    Its a mad mad system.




    I get 10% of the interest I paid throughout the year returned to me. That's it. Nothing from savings and although I like my (Drogheda) Credit Union in general (albeit they're a tad expensive), i do wonder what they're at sometimes with their money. For example, spending money renting out a 'loan office' from the shopping centre next door. :rolleyes:


    'Squander, squander' comes to mind.


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