cab
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Credit UnionsNo, I'm not after a loan 
But I got talking to a lady representing Cambridge Credity Union at lunchtime, while at the annual Arbury Carnival (one of two stonking good events on in Cambridge this weekend). I like the idea of it, I like the principle of it, I've always thought it was a good idea, and I can't see anything obvious to be lost in joining and putting a few bob away there each month... Any thoughts? Anyone in one?
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Marionb
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I thought they were of more use to someone who wants a loan? I was reading a leaflet in work about the local one... from what I remember, after you've paid in regularly for 3 months you can take a loan out up to a max of 3 times what you've paid in, and you pay it back over 12 months?
I didnt think it was much good if you only wanted to save money but useful if you wanted a loan with low interest rates.
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Jonnyboy
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We're in one, it encourages you to save and it nice to know that there is a loan always available if you need it. Plus the money is at work in your local community.
One thing I love about it is that it is an avenue for some people in a mess to get away from loan sharks.
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Cathryn
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They are mostly an excellent idea for the reasons Jonnyboy gives and I keep meaning to save with the local one myself. It is just getting established. I cannot understand why they are not used more than they are.
Mostly because some have been poorly run by over enthusiastic individuals.
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