Yorkshire Bank in Accrington to Close - Page 3

Eric · 15-04-2016, 11:38

Are there no Credit Unions? In Kingston, we have two major CUs, the Kingston Community Credit Union, and the Kwartha Credit Union. There are branches all over the city. The KCCU even has an outlet at Kingston General Hospital. The credit unions are regularly voted the top financial institutions in the city. I've been a credit union member ever since I came to Canada. Banks ... no thanx.

Margaret Pilkington · 15-04-2016, 12:55

I think there are some credit unions, but I am not sure how they operate.
I think that some people who cannot get a bank account can secure loans from them at reasonable rates.
Jen is the person to ask. I am sure she would be able to give us chapter and verse on Credit unions.

Rowlf · 15-04-2016, 12:59

I agree with you Big Dave.The Santander 1.2.3 account is brilliant. We get more back with that than with interest. I sympathise with you Margaret. I am not a lover of change either as I find it very unsettling. I hope you get it sorted out soon. I hope those of you who have elderly parents have had the good sense to get a 'Enduring Power of Attorney.'so you are able to sort their money or other important things out without any trouble .

Margaret Pilkington · 15-04-2016, 13:02

The Yorkshire Penny Bank was a precursor to credit unions.
It was set up primarily to help the working class put small amounts away as a hedge against hard times.

To me this bank has never had the grasping feel of the major banks.
It has always felt like a 'family' concern......but maybe that is because I have been with them for so long.

Greeny · 15-04-2016, 16:39

HSBC , Accrington branch closes at the end of this month too.

cashman · 15-04-2016, 17:01

Quote:

Originally Posted by Greeny

HSBC , Accrington branch closes at the end of this month too.

Not a surprise to me, glad i dumped em in december.

shillelagh · 15-04-2016, 23:32

Quote:

Originally Posted by Margaret Pilkington

I think there are some credit unions, but I am not sure how they operate.
I think that some people who cannot get a bank account can secure loans from them at reasonable rates.
Jen is the person to ask. I am sure she would be able to give us chapter and verse on Credit unions.

here you go Margaret ..

fccu

the credit union is up on the balcony in the market hall ... on the right hand side ... its open on Tuesday, Thursday and Fridays 10am to 1pm. Its run mostly by volunteers (yes im one) ... If you become a member you get a paying in book or you can set up a standing order ... we need proof of date of birth, name, address and national insurance number, and to open your account we will need £7 ... £5 to go in your account and £2 membership fee. After that you can put in 50p or £50 ... we'll take whatever .. The credit union has 3 different accounts, the main account is your shares account (this is used as your collateral if you get a loan and if you have a loan until your loan is below whats in your account you cant draw any money out of it and then only the difference), then we have the no 2 account (savings account if you have a loan you can draw out of this one) and the Christmas savings (this one you cant draw any money out till the 31st October).

Anything else you want to know ... by the way we always need volunteers

Margaret Pilkington · 16-04-2016, 06:25

Thanks Jen.
I knew that you would know all about it as you are active in providing support.
I think the credit union is a good way to get into a savings habit when you haven't got much money.
The Yorkshire Penny Bank started out in much the same way.....and it was aimed at those who had little money to save, but wanted to have something in reserve against the 'rainy days'.

Jen, all power to your elbow. You do a great job.
Right now I haven't much time to volunteer for anything much. I am busier than when I worked full time.

maxthecollie · 16-04-2016, 19:15

Got my letter today.

Margaret Pilkington · 17-04-2016, 15:32

Another one bites the dust...B&M Bargains, Union St branch is closing down.
The larger store near Aldi will remain.

Mick · 18-04-2016, 05:35

Anyone with Yorkshire bank can put cheques in at the post office as I use them and do most of my banking online I will not be changing just use the post office if I need to

Margaret Pilkington · 18-04-2016, 07:14

Yes Mick, you can use the post office to put cheques into your account and also to pay bills.
I can see the post office being busier than ever. I wonder if they are charging the Yorkshire Bank for this service.....after all, nobody does anything these days without wanting a bit of dosh.

lindsay ormerod · 18-04-2016, 12:55

Might be worth noting that in many cases a tax code notification from HMRC is accepted as ID, I used one for my mortgage as my passport had expired.

Margaret Pilkington · 18-04-2016, 14:10

I didn't know that Lindsay. I know that when I wanted to draw £5000 out of my account to pay for building work, I was asked for photo ID and had nothing that was deemed suitable so himself had to provide the ID for me to get the money(it is a joint account).

Neil · 19-04-2016, 09:46

Went in yesterday and closed my account.