On Tue, 15 Jul 2008 22:52:59 GMT, "WayPoint"
<waypoint@somewhere.in.qld> wrote:
>I'm wondering if Credit Unions are a better deal than main stream banks?
>
>Credit Union Australia is not too far away from your area.
>They wouldn't be too proud to accept your deposit AND give a better interest
>rate (?)
I tossed banks in favour of a credit union about 30 years ago. The
only fees I pay are if I ask the credit union to do a direct debit ($2
per transaction) or if I use BPay (0.20 per transaction). All other
transactions are free for low to moderate use.
Credit unions are owned by the users and are there for their benefit.
In South Australia (and possibly other states), there is a
stabilisation fund to which all credit unions contribute, so that if
one of them experiences a "run" by depositors the fund covers it.
Definitely worth checking out if there is a credit union convenient to
where you live/work.
Martin C
34°53'21.30"S
138°40'29.09"E
Vernon Balbert
Dallas
