Credit Union or bank?
Reasons why joining and using a credit union is better than a bank
Here in Angus we have a range of financial providers to choose from. Angus Credit Union and the multinational banks both offer saving and loan facilities – so how are you going to choose which one to use?
Here are a few things to consider about our credit union:
- Angus Credit Union is much more concerned with helping people to develop a balance between saving and borrowing, than just wanting to make money out of people – banks are more interested in just encouraging people to borrow.
- Angus Credit Union is willing to arrange small loans for our members – banks only want you to take out a loan if it is for a larger amount, otherwise they want you to use a credit card or an overdraft. Neither of these helps you to establish a pattern of regular repayment, which is the most effective way of paying off a loan; banks would prefer you to be continually in debt.
- With Angus Credit Union, loan repayments are structured so that as you pay each instalment, a small proportion of the repayment goes into your savings. At the end of the loan repayment period, you have paid off the loan and also have more money in your savings. Banks don’t do this.
- Angus Credit Union loans come with inbuilt loan protection insurance, so that if you die while the loan is still being paid back, no-one else is left with the burden of paying back the loan. Any sort of loan protection insurance from a bank costs extra money; with a Angus Credit Union this is provided at no extra charge to you.
- Angus Credit Union is a responsible lender; we won’t offer you a loan that you will struggle to repay. The global financial crisis showed us that banks were willing to lend more to people than they were able to repay. Has anything changed?
- Using Angus Credit Union is keeping local money circulating in the Angus local economy; using a bank means that the profits are going outside the local economy to the shareholders of the bank, which are usually other big corporations. Angus Credit Union is owned and operated by its members for their own benefit - there are no external shareholders, and any surplus that the credit union creates is returned to the members.
If you live or work in Angus, make a smart move with your money – use Angus Credit Union instead of a bank for safe savings and affordable loans.
Loans in Montrose
Loans in Montrose – a guide to getting a better deal
People living and working in Montrose – if you are looking for loans in Montrose, where would you go? After searching on Google for loans in Montrose, one of the first search listings offered the following companies as doorstep lenders in Montrose:
Provident Personal Credit – 272.2%
Loans at Home 4U – 399.7%
Greenwood Personal Credit – 433.4%
Shopacheck – 399.7%
Morses Club – 469.8%
You have another choice for loans in Montrose !
When you actually look at the interest rates these companies are offering for loans in Montrose it’s difficult to see why you would choose to spend 21 – 37 times more in interest than choosing a loan from Angus Credit Union. Angus Credit Union typically charges 12.68% APR, and we only charge on the reducing balance of the loan. We don’t add all the interest onto your loan up front!
Angus Credit Union doesn’t offer doorstep loans in Montrose, but we do serve the Montrose area from our Forfar offices, and can arrange loans in Montrose quickly and efficiently. We offer Starter loans in Montrose (up to £100) which can be paid out to you ASAP, as well as larger loans based on your savings with the Angus Credit Union.
Here is a comparison of our Starter loans in Montrose
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**Interest rates correct as of May 6th 2011
How can you apply for our Loans in Montrose?
Our low cost loans in Montrose are available to members of Angus Credit Union. You can complete a quick Membership Application form, and a Loan Application Form. We do need some proof of identity, so once the forms have been completed you’ll need to provide us with that information, but the whole process can be completed quickly, and you’ll soon have your money for your loan.
Call Angus Credit Union on 01307 463388 to discuss loans in Montrose, and we’ll be glad to help you in any way we can.
Loans in Montrose from Angus Credit Union – why go to a doorstep lender when there’s a lender on your doorstep?
Save for a Rainy Day with Angus Credit Union
Saving money for a rainy day has become a rare thing in Scottish society. More common is to “buy now – pay later”. This kind of thinking has led a large percentage of our population to end up in debt.
Angus Credit Union has the vision to see the habit of saving up become popular once more. We have a Junior savings scheme called Smiley Savers which is helping to educate children about money and offers a savings scheme which can be fun and easy to use in local Angus primary schools.
However, children learn the most at home. They are only at school for 20-30 hours a week, and at home for the rest of the week! By modelling good money habits you can really make a difference to how your child will manage in the real world when they grow up.
Why not start saving up NOW for your summer holidays, new washing machine, birthdays or Christmas?
How to save with Angus Credit Union
We make it easy to save:
1. Standing order: most of our members set up a Standing Order with their bank to automatically save money each month.
2. Angus Council Access Offices: We have a partnership with Angus Council who will accept deposits into your account.
Start Saving Today!
Download our Application form today and start saving right away.
We also offer Low Cost Loans!
Angus Credit Union offers fabulous rates on our Low Cost Loans. If this is something in which you are interested why not give us a call or find out more information how we can help reduce your interest payments.
Angus Credit Union TV Advert
Autumn 2009 saw Angus Credit Union on the TV, with a pre-Christmas commercial.
