View Full Version : Which financial institution?
22-11-2006, 11:49 AM
Ok my mission for the next 2 weeks is to find an ethical financial institution to switch to. We are currently with nab (stupid abbrev) as we've always been with them. I don't like them. But I've been so overwhelmed with all the info I have to wade through that i just gave up making a decision.
But I've decided I'm giving myself 2 weeks to go through a bunch of financial institutions and at the end I want to make a decision and switch. So who have you chosen and why?
Keep in mind I am in QLD, would prefer to support a QLD institution if possible but I do need an institution that has flexible options, good internet banking etc. Help!
22-11-2006, 01:18 PM
Anastasia, Do you have Credit Unions in Australia? I find that the CUs here in the states are much more oriented towards their members than any bank I've ever dealt with. 9anda1f
22-11-2006, 02:38 PM
Yup we do, however there are SO many it can be hard to choose among them! LOL That's why I was hoping to get suggestions to look into (Ive already had a few suggested).
22-11-2006, 04:48 PM
Wide Bay .....SuncorpMetway......
23-11-2006, 06:50 AM
G'day Anistasia :)
I've been with my local credit union for a while now. They offer excellent service including internet banking and I rest easy knowing that all of the profit is returned to our local community.
In Queensland, you could try Maleny CU. My friends swear by them:
23-11-2006, 08:18 AM
Thanks Mark. Maleny CU sounds great but won't work for our day to day account (they don't have atm cards, and having to link through another institution seems kind of pointless). However I think I might look at opening an account for my daughter with them (not planning on doing anything other than depositing into that). Hm there are definite possibilities.
23-11-2006, 08:31 AM
The best way to have money in a bank is to buy shares!
23-11-2006, 09:51 AM
I think you should Save all your money and keep it around the house in a safe or something fire and theft proof.....
If the shit hits the fan weather wise and aussie starts drying up so will the banks...If things go wrong ,first things that will happen is a rush on money.second thing will be banks closing their doors...
As i say "You cant beat Cold Cash"
When the banks shut their doors ...no matter how many millions you got in there itll mean stuff all..
There arnt enough notes to cover all the money...
25-11-2006, 09:24 PM
I've had an account with Suncorp for many years & find their service excellent. Won't go into all the bells & whistles here because I'm not sure it's appropriate to plug them on this site.
I don't know about the ethics of it's investments, which was the main question of your post. Best of luck with your search.
Richard on Maui
26-11-2006, 01:26 AM
What about forming a Permaculture Credit Union?
26-11-2006, 03:29 AM
I am into the Jam Tin Method of banking too..
I always keep a fair bit stashed. I do have one problem though my wife is better at finding it than the tax man... :D
Richard, I like the Permaculture CU idea. In my experience the Permies I have met are all fairly judicious with money - evem if they don't have a lot. You have met more than I have, have you found this to be the case?
Richard on Maui
26-11-2006, 02:16 PM
Uh, not exactly! Not always anyway... But, it wouldn't matter if a few members made outstandingly bad financial decisions, as long as the people nominated to run the c.u. knew what they were doing, right?
Heck, finances have never been my strongest suit, to be sure, but I was listening to Bill's Stanley PDC from 1983 (Thanks Jeff Nugent, you champion!) and he was going on about how it isn't enough to hide out in the bush growing potato's and duck's, that we need to become bankers, since it is the financial economy that is destroying the planet...
Maleny CU is basically a Permaculture credit union, and they have done great stuff in that area (we have some of our meagre resources saved with them) but it sort of needs replicating all of the country and planet doesn't it? A financial institution that promotes local sustainable development...
There is actually the Permaculture Credit Union out of Santa Fe, which is in the northern part of New Mexico USA, but they are pretty much a local thing too. I tried to open an account when I lived in Las Cruces, NM, which is down south, and they weren't all that enthusiastic, encouraged me to find a bank that was making good investments in my local area. I would have been stoked to have an ATM card that had the word Permaculture on it!
26-11-2006, 04:05 PM
I don't have the time or energy to put into something like that. Maybe in the future but not right now.
And well, it would be nice to just keep the cash under the bed but I have a partner as well and he isn't that keen on that idea. ;)
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