Best credit union in Trinidad & Tobago?

[racedriverpro]

Even how most calculate and pay I interest on a loan is questionable

[bluefete]

Even how most calculate and pay I interest on a loan is questionable

True. I heard a loans officer from ECU try to explain that to a customer. Pure Joneses.

[racedriverpro]

3000 installment of lets say a loan of 115k at 18% interest could mean that 1500 is paid towards the principal of the loan ie 115k and the other 1500 goes towards the interest/down the drain. Interest is paid on the reducing balance. You are also required to save monthly towards ur shares once u have a loan...Minimum 200 I think. More money to lend other members to make some more money. Doh waste time checking the figures I knw it wrong just a very real example

[eliteauto]

A very basic principle is being missed by many. When you borrow from a bank they make interest for their shareholders, you usually get nothing for it, with a credit union you're the shareholder so you get a return on the interest generated via your dividends. Every year I get dividends from both my credit unions which I have the option to take, place in my savings account where it's always accessible or reinvest in shares, I usually choose the latter which in turn guarantees more returns the following year. If the loan interest calculations ( a percentage on the reducing balance) confuses you, get the literature and become more financially literate. The dynamism and flexibility of the loan procedure with a CU works in your favor when you need cash quickly to jump at opportunities obviously there's a cost attached to that

[nismo1325]

venture credit union........customer service is top notch

[Country_Bookie]

It’s useful to keep in mind that higher returns are directly correlated with higher risk. You should always ensure you understand and are comfortable with the increased risks you will be assuming in the pursuit of higher returns. Most people only become aware of the risks they were subject to after an adverse event.

Credit unions are not regulated the way banks are regulated. Banks for instance have to maintain a portion of their capital with the Central Bank, as well as pay for Deposit Insurance Corporation to cover each customer deposit up to a minimum of $125k. Credit unions are not subject to any such regulations, but they have their own credit union insurance; and you will be charged premiums for this insurance. I’ve seen an instance with TECU where the premium that was charged was almost the same as the dividend paid on the shares. The credit union insurance is with a private company that was arranged a few years after the collapse of HCU, whereas the Deposit Insurance Corporation was established by Central Bank more than 30 years ago.
I’m more confident in the DIC insurance than credit union insurance in the event of a systemic failure of the financial system, but that’s just me.

[stev]

Eastern Credit Union...

swing by any one of the 9 branches and pick up some brochures...

[$h@dy]

Rhand Credit Union

[Mercenary]

HCU

[Kronik]

venture credit union........customer service is top notch

agreed. their quick-v service also saves a lot of time when making deposits, paying loans, etc

[pjfred]

Hcu

[10-01]

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

with them also CS really sucks , they paid 3.5 % on shares ... loans are very easy to get

[christopherwilliams2]

Eastern is the most fully featured CU that i know.

[RedVEVO]

Ah moving .

What is the banking experience @ your credit union ?

Good ? Bad ?

[Cantmis]

http://www.policecreditunion.com/

[RedVEVO]

^^^

Why would anybody want to put their savings with Police ?

[Redman]

Cuz its one of the best run credit unions in the country.

[agent007]

Cannings

[Soochi boi]

Tecu

[nismo1325]

venture credit union....good rates plus fast approval times on loans

[Gem_in_i]

Which credit union allow a joint account?

Also, find out what beneficiary means in a CU.

[stev]

Eastern Credit Union

Great rates
9 branches
13 ATMs (or Linx capable)
Online banking / mobile app
Fast approvals

[88sins]

Ah moving .

What is the banking experience @ your credit union ?

Good ? Bad ?

What exactly are you looking for & what exactly are you moving to get away from?
cuz I could tell you, depending on your medium-long term goals most credit unions might not be of much help.

[RedVEVO]

Ah moving .

What is the banking experience @ your credit union ?

Good ? Bad ?

What exactly are you looking for & what exactly are you moving to get away from?
cuz I could tell you, depending on your medium-long term goals most credit unions might not be of much help.

Bank charges too high.

Growth on savings .

Looking @ UTC

[death365]

teacher and or pscu.

average 4- 5 % interest ...

[RedVEVO]

^^^^
Teachers take out too much loans ..

Da credit union go buss

[wickedtuna]

^^Most of these credit unions getting just like the banks charging more and more...

[RedVEVO]

^^Most of these credit unions getting just like the banks charging more and more...

Imbert cause dat ..

[88sins]

teacher and or pscu.

average 4- 5 % interest ...

sorry to pop that bubble you got there, but 99.99' of them offer the same rate. the trick is to ask them how that rate is calculated, the mathematics will surprise you, you not getting 5% by the time they done, consider yourself lucky if you get 2%.

Bank charges too high.

Growth on savings .

Looking @ UTC

UTC would be your best & safest bet for nominal growth, least risk & minimal charges. But don't dump everything in one product, or in one place.
Now, eventually if you start looking for investment options with serious potential for high ROI, I advise you to start developing a U.S. based stock portfolio. It can be VERY RISKY depending on the companies you invest in, but if it works out you will grin so wide yuh ears hadda duck.

[RedVEVO]

teacher and or pscu.

average 4- 5 % interest ...

sorry to pop that bubble you got there, but 99.99' of them offer the same rate. the trick is to ask them how that rate is calculated, the mathematics will surprise you, you not getting 5% by the time they done, consider yourself lucky if you get 2%.

Bank charges too high.

Growth on savings .

Looking @ UTC

UTC would be your best & safest bet for nominal growth, least risk & minimal charges. But don't dump everything in one product, or in one place.
Now, eventually if you start looking for investment options with serious potential for high ROI, I advise you to start developing a U.S. based stock portfolio. It can be VERY RISKY depending on the companies you invest in, but if it works out you will grin so wide yuh ears hadda duck.

So exactly HOW you doing this with no US currency ?