Best credit union in Trinidad & Tobago?

[88sins]

iirc is only scotia & fcb doing that 5x thing. most other fin. inst. lend up to 8x
and with rbl, depending on your credit history with them & yuh dsr & a couple other things, that 8x can go as high as 10x

[V2NR 3.0]

iirc is only scotia & fcb doing that 5x thing. most other fin. inst. lend up to 8x
and with rbl, depending on your credit history with them & yuh dsr & a couple other things, that 8x can go as high as 10x

Once again, well said. In the past, I've looked at many financing options and credit unions may have a more friendly softer approach, but the lick you up silently. This reducing balance thing that they like to boast is rubbish in my books.

[88sins]

Banks use the exact same reducing balance method when calculating their repayment/installment terms. Only reason why some credit unions use this as a marketing point is becuz in they want to convince John Public that they would be paying less interest at the credit union than they'd pay at the bank. When that just is not true.

Credit unions in T&T are all to happy to bamboozle the unwitting customer. And they absolutely do not care about their responsibilities to the customer, of their needs or wishes. Andbplenty of them real friggin bold faced too. Plenty of them will tell you to come & join. Deposit your money. If you decide you'd like to part company from them you can close your account any time.
Then the minute that you tell them you want to close your account, they tell you have to write for it, then it has to be approved by the board (which could take anywhere from 5 working days to 3 months). All that assness, just fora person to close their account & go their way. In the mean time they makin some nice profit off your assets & depending on the institution any & all interest that your money could have earned you while you wait to get it back is promptly terminated. Meaning they can now make $$$of of your $$$, & dont have to pay you any interest.

Still likin the credit onion? They go leave yuh in tears. Especially when time comes & yuh lookin for a mortgage & yuh hadda come up with a huge deposit to qualify with them because of their set protocols. It's happened to a lot of ppl so far. Put all their faith in a small institution only to get shafted.

And doh get me started on their lending practices & how some of them set the DSR for a loan applicant. I've seen some places set the DSR as high as 80%. Meaning they expect as much as 80% of a persons monthly income to go towards satisfying debts. And that is not food transport utilities i talkin about eh. I am talking about as much as 80% of yuh income should go to pay back borrowings according to some of them. Idk who they feel could live on 20% of their salary.

But whoevef wanna put their faith in d credit onion, go brave

[V2NR 3.0]

^ hahahahaha, all on point, take win partner.

[konartis]

Venture have a loan sale for vehicles.

[Slartibartfast]

In the end, numbers don't lie. Whatever you go with just make sure to work out the total amount you will end up paying back and go with where is the cheapest overall. In my case the term of my loan wasn't that long so the reducing balance seemed to work out way better. Worked out to abput 7% interest per annum average at the end of full repayment while republic offered 13.5%.

Whatever you do OP just make sure to run ALL tjtthe numbers before you settle on a bank or credit union

[KhaleelStafford]

cuz I was seeking an answer

reason being? do you know him?

[88sins]

answer the question if you really want to know

[KhaleelStafford]

answer the question if you really want to know

thats my father

[trinigamer]

credit unions often have other services banks don't offer, family indemnity insurance, group medical insurance etc.

[88sins]

credit unions often have other services banks don't offer, family indemnity insurance, group medical insurance etc.

horses#it

[trinigamer]

credit unions often have other services banks don't offer, family indemnity insurance, group medical insurance etc.

horses#it

umm no

http://www.agricolacu.com/agricola_main ... -plan-cuna

plus I have group medical

[francis1979]

Interested in opening a credit union account due to high dividends

Any recommendations from tuners on best credit union:
1) dividend payout
2) ease of business
3) debit card with additional features e.g visa debit
4) additional perks/ discounts for members ( e.g. Reduced rates for hotel/ beach house , land/ housing development
5) stability

[RedVEVO]

Eastern Credit Union

[eliteauto]

Fire Services Credit Union followed by Police Credit Union

[desifemlove]

ecu pretty good.

[TRAVIS23]

Venture credit union.

[nos_specialist]

^^^ Venture credit Union was good, as of recently their customer service started to SUCK baddd.... i wid them about 10 years i think...

[Monkey Man]

^^^ Venture credit Union was good, as of recently their customer service started to SUCK baddd.... i wid them about 10 years i think...

them does have nice maraton

[uncle sam]

ECU leading the way

[V2NR 3.0]

Banks much better.

[racedriverpro]

ECU leading the way

Credit union only beneficial if you saving money with them. They hold your money and coerce u to take a loan instead of withdrawing from your shares. To withdraw from your shares can take up to two months. Wrt it may appear that they are helping u by giving u a quick loan but in reality they are helping themselves by ass raping u with higher interest while ass raping someone else that they lent ur money too. Ass raping can't done.

[abbow]

which financial institution dont?? All of them....set of rapists(financial)....even insurance agents have a new handle now ......"financial planners"

[uncle sam]

ECU leading the way

Credit union only beneficial if you saving money with them. They hold your money and coerce u to take a loan instead of withdrawing from your shares. To withdraw from your shares can take up to two months. Wrt it may appear that they are helping u by giving u a quick loan but in reality they are helping themselves by ass raping u with higher interest while ass raping someone else that they lent ur money too. Ass raping can't done.

Check the thread title...
Check my response..
No one asked you about that...
I have no probs with CUs

[V2NR 3.0]

ECU leading the way

Credit union only beneficial if you saving money with them. They hold your money and coerce u to take a loan instead of withdrawing from your shares. To withdraw from your shares can take up to two months. Wrt it may appear that they are helping u by giving u a quick loan but in reality they are helping themselves by ass raping u with higher interest while ass raping someone else that they lent ur money too. Ass raping can't done.

Well I would have certainly put it a different way with more eloquent language - but this guy covered it.

[V2NR 3.0]

I used to be a credit union believer - they are certainly easier to get loans and have a more one on one rapport with its customers - but when you have a moment - read the fine print - my oh my.

But to answer the original question (before I get rough up) - Eastern Credit Union is perhaps the best of the worse.

[racedriverpro]

ECU leading the way

Credit union only beneficial if you saving money with them. They hold your money and coerce u to take a loan instead of withdrawing from your shares. To withdraw from your shares can take up to two months. Wrt it may appear that they are helping u by giving u a quick loan but in reality they are helping themselves by ass raping u with higher interest while ass raping someone else that they lent ur money too. Ass raping can't done.

Check the thread title...
Check my response..
No one asked you about that...
I have no probs with CUs

You have a point....I just stated my experience with ECU, unfortunately that experience have alot of feels attached to it and I would always advise people who looking to do business with a credit union to ask very pertinent questions wrt to interest rates etc because they (forgive my generalization) tend to just process loans without giving the customer the hard facts. Don't be overly grateful that you are getting tru with a loan with them because in the long run you are really losing. Don't forget long waiting time and poor customer service.

[Drea]

Anybody but TECU, they absolutely sour me off the whole CU vibes. Opened an account with them last year and between then to now I have less money than what I actually deposited to open the account. I worked in a bank for over 4 years and have common sense so I really couldn't buy what they were trying to sell me as the explanation. I was told some annual fee was taken out last year after I opened the account and then in Feb of this year those same fees came around again take me for an ass, so I had just about $100 in my share account and a similar amount in a next account which I can't withdraw. I tell them keep it, not seeing a cent of my money going their again.

[urbandilema]

Anybody but TECU, they absolutely sour me off the whole CU vibes. Opened an account with them last year and between then to now I have less money than what I actually deposited to open the account. I worked in a bank for over 4 years and have common sense so I really couldn't buy what they were trying to sell me as the explanation. I was told some annual fee was taken out last year after I opened the account and then in Feb of this year those same fees came around again take me for an ass, so I had just about $100 in my share account and a similar amount in a next account which I can't withdraw. I tell them keep it, not seeing a cent of my money going their again.

Thanks for the update will tell the wifey she was gonna try an account with em.

[bluefete]

Notwithstanding the above, TECU is supposed to be the strongest (financially) CU in T&T. They were heavily invested in land. But I have not seen their financials recently.

Then Teacher's CU - They are the most risk averse CU in T&T.

Police then Telephone Worker's then Venture CU's.

Whichever one you decide to join, MAKE SURE to get a copy of their last audited / agm report and read it BEFORE joining.