Loans

so if i bought £100 worth vouchers from them

in a yr how much wud i have to pay back? 540?
 
By the way credit unions are run by the community for the community. They are not a profit organisation. Any profits after all the expenditure for staff, premises etc are given back to the people who are members as a dividend. Just like a bank who give you interest every year credit unions give you a dividend.
 
shillelegh is right credit unions will be the death of the provident, greenwoods, alpha, and the rest of the expensive money merchants, I read in this thread earlier "my agent is like a family friend" they train them to be like that, they laugh their cocks off when they get through the door ,wise up. If you owe money to any parasite , borrow it off a credit union and pay the shark off without interest ,no county court in the land will make you pay any more than the borrowed sum ,never mind their small print. As for credit ratings being affected so what ,if your credit was good you wouldn't need these parasites in the first place.
 
mani said:
so if i bought £100 worth vouchers from them

in a yr how much wud i have to pay back? 540?
Click to expand...

Here mani I'll give you the formula and you can work it out for yourself:D

apr-formula.gif



A simplified formula for working out APR is (1+m)^12-1, where m is the monthly rate.

taken from:-
Calculating Credit Card APR
 
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