If you want to not only save money from inflation, but also to earn extra money, you can open a deposit at the credit unions (CUs). There, if you do not meet the strict requirements for a loan at the bank, we can take credit  credit unions .

But remember that invest in credit unions is risky, and borrow - expensive.

Deposit trumps

The main difference between "union" of deposits from the bank is that the State Commission on Regulation of Financial Services (Financial Services Commission) allows the COP to take deposits only in UAH. In addition, they offer higher interest rates. Even given the fact that many banks this summer generous with high interest rates (20-22%), the COP ahead of them. After all, their average deposit rates are 24-29%. And in some cases up to 35-36%.

Many of the COP can really afford it. After all, unlike banks, they have fewer expenses and higher income on loans. In particular, the Union has not paid income tax, currently at 25%. Also, the "allies" much less the cost of maintaining the machine, office, opening new offices, staff salaries and advertising.

For the convenience of our customers, some are even willing to COP accept deposits via electronic payment systems. To become a virtual investor, you can create a WebMoney e-wallet and transfer money into a purse Union. A contract for opening a deposit you will be sent by mail. But remember that the risk of losing money in this case multiplied. Because in Ukraine the activities of electronic payment systems is not regulated yet any laws.

More loyal to the COP and the early termination of the contract. Some of them do not apply penalties at all. Others may not pay interest only for the last month. Third - reduce the overall interest rate by 1-2%. Some also require received in writing two weeks and apply penalties, reducing the recalculation rate to 4-8%  credit unions .

Safety regulations

But high interest rates on deposits - not a reason to carry the union all their available money. First you need to check the availability of a license Union Financial Services Commission. You can do it on the website of the organization - www.dfp.gov.ua.

In addition, it helps to find out whether the COP member of the association of credit unions (or UNASCU VACS) and member of the security deposit. Positively characterizes the alliance and long in the market.

Try to look around and examine the financial condition of the COP. Reliable alliance is the one for which the ratio of reserve capital to assets is 15%. Also important is the absence of bad loans.

According to Andrew Olenchyk, member Financial Services Commission, the main feature of "suspicious" COP is informational secrecy and low life, along with aggressive advertising that promises sky-high interest rates. If his employees refused to show you the articles of association and did not want to talk about the financial state of the Union, he clearly does not trust worth.

Expensive loans

Go to the Constitutional Court for a loan makes sense only if you are refused in several banks. Positive decision on granting a loan is much more accepted and they are faster. But specialize "allies" in the main consumer finance and lend only to individuals.

Interest rates on loans are much higher than in banks. It is logical. One can not promise investors "golden mountains", giving cheap loans. On average, if the COP attracts deposits by 18-19% per annum, will be able to afford the loan is not less than a 30-35%.

Lower interest rates can only be found in the union with a hard "face-control." There's more meticulously selected members, and do not give out money without collateral or guarantors  credit unions .