Banking peeve

[Jimmy]

Since joining Savings & Loans CU, I have not regretted it 1 bit.

yep, they are great, been with them since forever...still am actually

[Wedgie]

Im with CPS Community Credit Union, been with them since before I started work. Had umpteen loans, credit cards, savings accounts, etc with them and probably will never change.

[Squawk]

Gotta give my plug to Powerstate Credit Union.
Great staff, great service, great all round. Very happy with them

[TroyGFC]

Im with Savings and Loans- free use of all their ATMs and other atms in their group. Used to be with National and ANZ but soon told them to get stuffed with the closure of accounts. S&Ls have a great online banking service which is very easy to use. They do chaRge a $2 FEE to non-group ATMs but the tricks to try and not use them, one at Glenelg FC cost extra $2!!!

[MagicKiwi]

Credit Union also, Australian Central. Big test this $300, I'm expecting them to get it back for me, I have been with them for 20 years.

[Dutchy]

Credit Unions!...OK I guess but never put any serious $ with them

[Squawk]

Credit Unions!...OK I guess but never put any serious $ with them

Never put any serious $ with a bank unless you are buying their shares. You make more money from their shares than you do from any interest you earn - by the time you add dividends and capital growth in the share price you are laughing all the way FROM the bank!

Don't you love the irony - buy shares in banks but bank with a credit union yourself?

[Dutchy]

Credit Unions!...OK I guess but never put any serious $ with them

Never put any serious $ with a bank unless you are buying their shares. You make more money from their shares than you do from any interest you earn - by the time you add dividends and capital growth in the share price you are laughing all the way FROM the bank!

Don't you love the irony - but shares in banks but bank with a credit union yourself?

fair point - always said to mates who bag banks to buy some shares...I got some NAB shares at $6-00...now $40+!!!!

point I was making is the $ are safer in a bank - fact - a few credit unions have gone belly up

[smac]

Credit Unions!...OK I guess but never put any serious $ with them

Never put any serious $ with a bank unless you are buying their shares. You make more money from their shares than you do from any interest you earn - by the time you add dividends and capital growth in the share price you are laughing all the way FROM the bank!

Don't you love the irony - but shares in banks but bank with a credit union yourself?

fair point - always said to mates who bag banks to buy some shares...I got some NAB shares at $6-00...now $40+!!!!

point I was making is the $ are safer in a bank - fact - a few credit unions have gone belly up

Twaddle Dutchy. Very few CU's have gone belly up and none in the current or immediately previous regulatory environments. They adhere to the same set of prudential regulations that banks do and subsequently are equally as safe - most often with a better brand of service and community awareness than a bank.

Disclosure - I worked for a credit union for 10 years, however I now bank with ANZ for reasons other than my employment.

[Dutchy]

Credit Unions!...OK I guess but never put any serious $ with them

Never put any serious $ with a bank unless you are buying their shares. You make more money from their shares than you do from any interest you earn - by the time you add dividends and capital growth in the share price you are laughing all the way FROM the bank!

Don't you love the irony - but shares in banks but bank with a credit union yourself?

fair point - always said to mates who bag banks to buy some shares...I got some NAB shares at $6-00...now $40+!!!!

point I was making is the $ are safer in a bank - fact - a few credit unions have gone belly up

Twaddle Dutchy. Very few CU's have gone belly up and none in the current or immediately previous regulatory environments. They adhere to the same set of prudential regulations that banks do and subsequently are equally as safe - most often with a better brand of service and community awareness than a bank.

Disclosure - I worked for a credit union for 10 years, however I now bank with ANZ for reasons other than my employment.

so their credit rating is the same as banks???? NO...therefore cannot say they are safe as banks

[smac]

Credit Unions!...OK I guess but never put any serious $ with them

Never put any serious $ with a bank unless you are buying their shares. You make more money from their shares than you do from any interest you earn - by the time you add dividends and capital growth in the share price you are laughing all the way FROM the bank!

Don't you love the irony - but shares in banks but bank with a credit union yourself?

fair point - always said to mates who bag banks to buy some shares...I got some NAB shares at $6-00...now $40+!!!!

point I was making is the $ are safer in a bank - fact - a few credit unions have gone belly up

Twaddle Dutchy. Very few CU's have gone belly up and none in the current or immediately previous regulatory environments. They adhere to the same set of prudential regulations that banks do and subsequently are equally as safe - most often with a better brand of service and community awareness than a bank.

Disclosure - I worked for a credit union for 10 years, however I now bank with ANZ for reasons other than my employment.

so their credit rating is the same as banks???? NO...therefore cannot say they are safe as banks

Credit rating has as much to do with it as the lint in my belly button. All deposit taking financial institutions in Australia are obliged to maintain specific capital reserves and adhere to many other prudential requirements - to protect the consumer. Credit rating relates to how much the institution themselves are able to borrow and at what rate - completely irrelevant to the ongoing viability of the institution.

That's the sort of scaremongering bullshit even the banks themselves stopped in the late 90's Dutchy - time to let it go.

[Dutchy]

Credit Unions!...OK I guess but never put any serious $ with them

Never put any serious $ with a bank unless you are buying their shares. You make more money from their shares than you do from any interest you earn - by the time you add dividends and capital growth in the share price you are laughing all the way FROM the bank!

Don't you love the irony - but shares in banks but bank with a credit union yourself?

fair point - always said to mates who bag banks to buy some shares...I got some NAB shares at $6-00...now $40+!!!!

point I was making is the $ are safer in a bank - fact - a few credit unions have gone belly up

Twaddle Dutchy. Very few CU's have gone belly up and none in the current or immediately previous regulatory environments. They adhere to the same set of prudential regulations that banks do and subsequently are equally as safe - most often with a better brand of service and community awareness than a bank.

Disclosure - I worked for a credit union for 10 years, however I now bank with ANZ for reasons other than my employment.

so their credit rating is the same as banks???? NO...therefore cannot say they are safe as banks

Credit rating has as much to do with it as the lint in my belly button. All deposit taking financial institutions in Australia are obliged to maintain specific capital reserves and adhere to many other prudential requirements - to protect the consumer. Credit rating relates to how much the institution themselves are able to borrow and at what rate - completely irrelevant to the ongoing viability of the institution.

That's the sort of scaremongering bullshit even the banks themselves stopped in the late 90's Dutchy - time to let it go.

so where do you bank again????

[smac]

The place that gave me 1.5% below the current rate for the life of the loan and operate all of my business accounts.

I would have no hesitation in returning to a credit union, but the size of a bank makes them more willing to deal with a business client and more willing to make deals to keep a client.

Apologies if I sounded grumpy - the combination of my 10 years working at a CU and jet lag from returning from NZ this morning aren't working well for me!