Posted on Jan 7th 2010 by admin.
Welcome to 2010!
We hope you have had lots of fun over the xmas break – and since coming back to work all we have heard from friends and family is how much money christmas costs!
The average cost of Christmas for each eprson is around £900 – this includes food, presents, travel, time off work – and its a lot of money. How do you save for christmas without bankrupting yourself throughout the year?
Saving with a Credit union is not only easy, its also a much more sensible solution if you would like to save for a certain item or event. You cant take your money straight out the cash machine, which makes saving large amounts of money easy. Plus any interest made by the Credit Union is paid back to members or used in the local community – it isnt paid into fat-cat bank employees pockets!
If you would like to find out how you can save for Christmas 2010 with Cashfields, head on over to our Savings page, or contact us and open your account today!
Posted on Dec 15th 2009 by Cashfields.
The FSA are in the final stages of of the consultation on changes to the legislation of credit unions. The deadline for responses to the consultation is 10th February 2010 and the rule changes will take effect from 1st July.
A lot of the changes are technical and concerned with increasing capital and liquidity levels and provision for bad debts. However, there is also a discussion about whether credit unions should be allowed to have corporate members (ie. not only individuals but also groups) and also to make it easier to combine common bonds.
These changes are part of a commitment to improving and expanding credit unions in this country. If you want to know more about the changes go to the links page for the FSA website.
Posted on Dec 9th 2009 by admin.
Hello Friends – we have relaunched our website and are venturing out into the world of social media in an attempt to reach more people and spread the good word that is Credit Unions.
Watch this space for more information on new products and services.
Please follow us on Twitter, Join our Facebook Group or Bookmark our site and keep checking back for updates and info relating to Credit Unions.
Be sensible with your money – and help your local community in the same breath!
Posted on Dec 9th 2009 by admin.
Success – Looks like Credit Unions are the way to go!
“Credit unions had $241 billion in outstanding consumer credit in October, up from the revised figure of $240.6 billion in September, according to data released yesterday by the Federal Reserve.
Overall, outstanding consumer credit fell to $2,482.9 trillion, down from $2,486 trillion in September. It was the ninth consecutive monthly decline.”
Source
Posted on Dec 9th 2009 by admin.
Heres a post on 24dash.com about how the progression of credit unions is being held up by Parliment.
“Legislation that will free up credit unions to enable them to provide affordable credit to larger numbers of members across a wider area and to lend to small businesses is stuck in the committee process in Parliament. The legislation would have swept away restrictive rules that prevent a credit union from serving a wider area than one London borough. It would have also allowed credit unions to make loans to small businesses.”
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