Short/long term investments/retirement policies etc advise

[pugboy]

wait til you try ang get your money out
some of them credit union does say you could only get your money if somebody
else join or put money in

[DVSTT]

wait til you try ang get your money out
some of them credit union does say you could only get your money if somebody
else join or put money in

Didn't realize it was like that. Have you had that experience before?

[pugboy]

somebody I know, it was a small credit union though
some of them little ones does operate like a sousou so you
are locked into a share/hand

[DVSTT]

somebody I know, it was a small credit union though
some of them little ones does operate like a sousou so you
are locked into a share/hand

I've never paid attention to them before, Til my friend told me the interest rates he was getting. Hopefully someone invested in venture will chime in.

[jusjase44]

what are the rates he getting?

[DVSTT]

what are the rates he getting?

Just over 7%

[KM_2NR]

Ppgpl seems to be coming online soon.

Define soon?
Think i've been hearing soon since last year haha

[pete]

what are the rates he getting?

Just over 7%

Sounds Clicoish

[francis1979]

I know others are paying 4%

[DVSTT]

How can credit unions pay such lucrative rates when banks peddle a meagre 1% or less and fixed deposits barely exceed 2.5%?

[simplejack]

Credit Unions interest is also pegged with loans that there users take. They make the bulk of there return on credit union loans. Banks are generally more greedy and pay less interest because they are a monopoly in that regard since you need a bank account so you have no choice but to take the crappy interest.

[jusjase44]

hmmmmmmmmmmmmmm

[daas]

How can credit unions pay such lucrative rates when banks peddle a meagre 1% or less and fixed deposits barely exceed 2.5%?

Credit Unions are non-profit organisations? Whatever money they generate is reinvested to the benefit its members. Banks are in essence, a business and the goal of every business? To make a profit

[triniringo]

for 2014 venture credit union paid out 6%..as for withdrawals I just waited 48 hrs and my cheque was ready...

[DVSTT]

6% over 10 years compound ed will double your initial investment, so it's very tempting for me to invest in VCU.

[DVSTT]

Ppgpl seems to be coming online soon.

Define soon?
Think i've been hearing soon since last year haha

This month

[daas]

6%??? d feck

[nervewrecker]

6%

I think tecu is 4% or something close. They usually don't give headache to get your $$$

Sent from my Nexus 7 using Tapatalk

[jusjase44]

hmmm interesting

[sickbad]

wait til you try ang get your money out
some of them credit union does say you could only get your money if somebody
else join or put money in

Didn't realize it was like that. Have you had that experience before?

I joined. Took meh money out no problem, can't get mailers and email spam to stop. I think it's simple interest no? 1000 in dec312014 and 1070$ at 1jan2016
Correct me if I'm wrong.

They have an online balance checking feature
A lot of oil workers from point Lisas invest there. Got cash up to 10000 if you need more they gone write you a cheque

Oh and e funny thing is a scotiaman insurance whatever advisor slipped and told me that that's the best around, and he has his $ there. Well yes I thanked him and signed up with venture next day couva and I'm a pos and central fella otherwise you in Arouca or sando

[jusjase44]

ok ok

[supercharged turbo]

wait til you try ang get your money out
some of them credit union does say you could only get your money if somebody
else join or put money in

Didn't realize it was like that. Have you had that experience before?

I joined. Took meh money out no problem, can't get mailers and email spam to stop. I think it's simple interest no? 1000 in dec312014 and 1070$ at 1jan2016
Correct me if I'm wrong.

They have an online balance checking feature
A lot of oil workers from point Lisas invest there. Got cash up to 10000 if you need more they gone write you a cheque

Oh and e funny thing is a scotiaman insurance whatever advisor slipped and told me that that's the best around, and he has his $ there. Well yes I thanked him and signed up with venture next day couva and I'm a pos and central fella otherwise you in Arouca or sando

Financial advisor in school "slipped" and said venture was the best and she had her money there too.Tecu and Venture don't usually give hassle for withdrawls.Check ready by late same day or next day

[DVSTT]

wait til you try ang get your money out
some of them credit union does say you could only get your money if somebody
else join or put money in

Didn't realize it was like that. Have you had that experience before?

I joined. Took meh money out no problem, can't get mailers and email spam to stop. I think it's simple interest no? 1000 in dec312014 and 1070$ at 1jan2016
Correct me if I'm wrong.

They have an online balance checking feature
A lot of oil workers from point Lisas invest there. Got cash up to 10000 if you need more they gone write you a cheque

Oh and e funny thing is a scotiaman insurance whatever advisor slipped and told me that that's the best around, and he has his $ there. Well yes I thanked him and signed up with venture next day couva and I'm a pos and central fella otherwise you in Arouca or sando

Financial advisor in school "slipped" and said venture was the best and she had her money there too.Tecu and Venture don't usually give hassle for withdrawls.Check ready by late same day or next day

Looks like I got my answer.
Sick bad is it the shares account you used?

[sickbad]

Sick bad is it the shares account you used?[/quote]
correct.

then a UTC advisor scoffed at the 7% and said that you'd make more with their compounding rates. so whoever passed finance could chime in with the exact rate and compounding frequency to see if it make sense.

[DVSTT]

Sick bad is it the shares account you used?

correct.

then a UTC advisor scoffed at the 7% and said that you'd make more with their compounding rates. so whoever passed finance could chime in with the exact rate and compounding frequency to see if it make sense.[/quote]

Compound is better for long term, provided interest rates are similar.
What's UTC's rate?

[Redman]

The Interest rate is what 'growth' number you will get at the end of a year..

there are different ways to apply the rate...thats where the compounding information is relevant.

The UTC calculates daily and credits the account monthly... which translates to you benefiting every day but only can access at month end

So lets use some stupid numbers as a easy way to do this..

the Interest rate is 365%

Simple interest will give you 365% of your investment fullstop...so you will get back $365 for each $100 you invest.

UTC however will calculate daily-so Jan1 you have $100 in Principal...
Jan 2 UTC will calculate the return for the day which is 1/365 th of a year
or the interest rate per annum over 365...$100 X (365%/365)
which works out to be about $1.

On Jan 2 your account is worth $101.

Because its compounded DAILY on Jan 3 however the UTC will use $101 as the principal and run the same calc... and it will give an interest value of $1.0365 or there abouts.

So what happens is that the account grows in value faster because the interest is compounding or BUILDING on itself.

So in day 30 your account value would be 131.3 or there abouts.

Simple interest will give you 465 at the endo of 1 year-100 principal and 365 interest

At the end of the year that compounding will put the value at $495 100 Principal + 365 plain interest and about $30+ in interest due to compounding the interest on itself


So this is just off the top of my head eh no calculators.

[SimSimmer69]

somebody I know, it was a small credit union though
some of them little ones does operate like a sousou so you
are locked into a share/hand

I think you meant Ponzi scheme.

[Redman]

No Ponzi scheme means something different to sou sou hand.

[DVSTT]

""A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.

[daas]

Well then...