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A Complete Introduction and Guide to Credit Unions

Written by admin on June 14th, 2013. Posted in Trinidad banking, Trinidad loans

Trinidad mortgage

Trinidad loans can make dreams come true. Whether you have always wanted a new car, a new home, or to start a business, there are respective Trinidad loans which pertain to whatever your specific financial goal may be. There are plenty of loan options, between commercial banks, and credit unions in trinidad and tobago. To be exact, there are eight different commercial banks with 123 different branches, as well as 130 credit unions in the area which offer Trinidad loans, and a say in the decision making process.

Trinidad banking, and banking anywhere really, can be a difficult process, regarding sifting through all of the options to find the best bank or credit union for your personal financial needs. My hope is to use my experience as a banker to make the process a touch easier for you. Here are some points of interest and advice to refer to as you look to improve and develop your credit, and make your banking experience go smoothly.

1. Eastern Credit Union is one of the larger credit unions located in Trinidad and Tobago. Eastern provides an array of services including Trinidad loans, Trinidad mortgages, and savings and investment options.

2. Credit unions are preferred by many due to the fact that, unlike corporate banks, credit unions are owned by its members, not wealthy, public shareholders. With credit unions, members have direct say in the decisions that the union makes, as well as the directions of policies the union moves toward.

3. Credit unions that offer Trinidad loans, deposit savings accounts and other financial services are not for profit organizations. Because of this perk, money that would otherwise become profits for banks are payed back to members as dividends.

4. Eastern Credit Union is a cooperative, which means that it is owned by its thrifty members who invest in shares. Members also sit on the Board of Directors, and are able to vote at the Annual General Meeting.