Best credit union in Trinidad & Tobago?

[cueball1990]

There isnt a best. Most have varying qualifications. Best you call a few and see what they ask for when taking a loan. But they work on share capital loans so you get to borrow 2x or 3x the amount you have invested with them.

[nervewrecker]

What's up with the bank?
I donno eh, just asking. Ent you don't pay interest on the first year or something so?
Provided you have some savings you can score a decent ride within a year without banding your belly.
I am open to corrections.
Good luck, happy to see an ambitious post in here.

[Spitfir3]

i hope you your position is permanent if not is presha

[Rory Phoulorie]

Hindu Credit Union

[SMc]

^^What happens if she is not Hindu?

[nervewrecker]

Op female?

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[daas]

^^What happens if she is not Hindu?

Banished and scorned at the door

to the gallows

But on a real try bank employees cu. I hear they reeeeel accommodating.

Also you have the right idea, try to get a loan through a cu and not a bank. As I understand it, Credit Unions are non-profit orgs so the interest they charge is actually reinvested to the benefit of its members in the form of dividends. Them banks charge you interest and the big shots just get richer by pocketing whatever profit is made.

[uncle sam]

What is the best Credit Union in Trinidad?, i'm very young and interested in purchasing a decent vehicle but I don't want to through the bank, i'm employed with Ministry and I want some information on what is the best thing for me to do right.

why? and you're very young? you would probably want to build a credit rating with the bank to get a bigger loan like a mortgage later on. If you insist on a credit union, go with Eastern. they are pretty flexible. Open a shares account one time and have a standing order take out a lil $300 from your salary every month.

You're welcome

[10-01]

What is the best Credit Union in Trinidad?, i'm very young and interested in purchasing a decent vehicle but I don't want to through the bank, i'm employed with Ministry and I want some information on what is the best thing for me to do right.

main question u with the ministry permanent or contract ? this will play a big role in getting the loan...

[abbow]

Venture, SECU, TECU

Call them, hear what they offering...

[bluefete]

Venture, SECU, TECU

Call them, hear what they offering...

TECU on all fronts! (And I am not a member of any).

[Advent]

Police credit Union

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[KhaleelStafford]

Im thinking its either Eastern or Venture Credit Union

[kaylex]

rhand

[Slartibartfast]

Eastern is 1% interest per month on the reducing balance. Works out to about 6%-8% interest per annum depending on the loan. Went to republic bank and they quoted me an interest rate of 13.5% I laughed in the woman face and just walked out.

[88sins]

Eastern is 1% interest per month on the reducing balance. Works out to about 6%-8% interest per annum depending on the loan. Went to republic bank and they quoted me an interest rate of 13.5% I laughed in the woman face and just walked out.

credit union & bank are 2 different things eh.
That 1% interest/mo actually doesn't work out the way you'd think. overall you pay closer to 11% in interest PA for the first few yrs or so, then it starts to go down. imo, avoiding 1.5-2% in interest not worth the limitations that the credit unions set upon you
credit unions will usually only lend as much as 2-3x what you have in shares/savings/assets, & it depends on the assets they will be holding as collateral. they might even go higher than 3x, but that's a rare thing.
banks will lend up to 10x your monthly income, & many will even do so unsecured too. you will pay more in interest, but you but that's what you have to pay for them taking all the risk.

they would even go so far as to lend if you didn't have a previous history with them. I do not know of any credit union that does that.

[Slartibartfast]

With respect to the interest rate you just have to workout the total amount to be paid in both cases and compare the two.

[1UZFE]

The best credit unions are company specific or indusrty specific. Whereby u have to be an employee of certain companies to join those credit unions. Eg.works credit union. Police credit union .Tateco etc.

[uncle sam]

Eastern is 1% interest per month on the reducing balance. Works out to about 6%-8% interest per annum depending on the loan. Went to republic bank and they quoted me an interest rate of 13.5% I laughed in the woman face and just walked out.

credit union & bank are 2 different things eh.
That 1% interest/mo actually doesn't work out the way you'd think. overall you pay closer to 11% in interest PA for the first few yrs or so, then it starts to go down. imo, avoiding 1.5-2% in interest not worth the limitations that the credit unions set upon you
credit unions will usually only lend as much as 2-3x what you have in shares/savings/assets, & it depends on the assets they will be holding as collateral. they might even go higher than 3x, but that's a rare thing.
banks will lend up to 10x your monthly income, & many will even do so unsecured too. you will pay more in interest, but you but that's what you have to pay for them taking all the risk.

they would even go so far as to lend if you didn't have a previous history with them. I do not know of any credit union that does that.

Eastern and PSCU

[stev]

Eastern Credit Union

Pass in any branch and they will hook u up.

[88sins]

only 2 out of how many dozen?
well its better than none

[speedmelter]

stafford you didnt get tru with the army boi?

[KhaleelStafford]

rhand

Whats so ironic is that i used to work there

[KhaleelStafford]

stafford you didnt get tru with the army boi?

yea i did up to last month dey called me, they took in a batch on th 29th of last month but only 50 people the older set out men i prayin and waiting still i pass everything tho

[88sins]

are you by chance related to a Samuel Stafford?

[KhaleelStafford]

are you by chance related to a Samuel Stafford?

why you ask?

[88sins]

cuz I was seeking an answer

[sliderz1]

How much Venture offering on savings accounts?

[V2NR 3.0]

Eastern is 1% interest per month on the reducing balance. Works out to about 6%-8% interest per annum depending on the loan. Went to republic bank and they quoted me an interest rate of 13.5% I laughed in the woman face and just walked out.

credit union & bank are 2 different things eh.
That 1% interest/mo actually doesn't work out the way you'd think. overall you pay closer to 11% in interest PA for the first few yrs or so, then it starts to go down. imo, avoiding 1.5-2% in interest not worth the limitations that the credit unions set upon you
credit unions will usually only lend as much as 2-3x what you have in shares/savings/assets, & it depends on the assets they will be holding as collateral. they might even go higher than 3x, but that's a rare thing.
banks will lend up to 10x your monthly income, & many will even do so unsecured too. you will pay more in interest, but you but that's what you have to pay for them taking all the risk.

they would even go so far as to lend if you didn't have a previous history with them. I do not know of any credit union that does that.

Well said. Credit unions only appear attractive.

[kjaglal76v2]

think banks are 5x unsecured

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