interesting dilema

miju

if you applied for a loan of €xx,000 from the credit union, you were approved and you got the money in your account and spent it only to find they make an administritive error and put another €xx,000 into the account 2 weeks later where would one stand?

Can they ask for it back or can ye keep it?
Will they even notice and if they do how long does it usually take?

i believe in karma and shall be making a sizable donation to a charity if it's not noticed and i get to keep it

Macers

miju wrote:

if you applied for a loan of €xx,000 from the credit union, you were approved and you got the money in your account and spent it only to find they make an administritive error and put another €xx,000 into the account 2 weeks later where would one stand?

Can they ask for it back or can ye keep it?
Will they even notice and if they do how long does it usually take?

i believe in karma and shall be making a sizable donation to a charity if it's not noticed and i get to keep it

They gave me an exta €500 and came hunting 6 months later...

Pa ElGrande

"Oh what a tangled web we weave, when at first we practice to deceive"

If the dilemma is will I got away with it or not? Then the answer is I will get caught, money has audit trails and when they do catch up with me, I will pay it back + interest. This may happen at at time when I can least afford it in terms of time and money. What if someone lost their job because of this simple mistake? What id the person is my neighbour?

A good conscience is a choice companion. There is no dilemma here, contact them in writing or directly and have them correct the mistake.

Vazelothir

legally speaking ownership did not transfer to you, hence you have no rights to the money...

I remember a case pre-euro when a guy transferred pounds to pesetas and the bank messed up and he basically got 10 times the money (or something like they gave him the same number in pesetas without converting it). anyway, the bank went after him and they eventually agreed a repayment schedule as he had spent the money The alternative was a cosy little cell.

the money is theirs, but it was not your mistake and it is important to get them to acknowledge that. The question is, how hard do you want to make it for them to get the money back, assuming that they do cop on!!

bounty

you'd have to leave the country to avoid paying it back once they realise whats happened

miju

well its sitting in the missus's account for now i've no intention on spending it for at least 6 months, if they come looking for it, i'm gonna hand it straight back of course thats only IF THEY COME LOOKING FOR IT

Random

6 months later - you spend it
7 months later - they want it

What then ?

miju

then's i work out a payment plan with em i suppose

Pa ElGrande

miju wrote:

i believe in karma and shall be making a sizable donation to a charity if it's not noticed and i get to keep it

miju wrote:

well its sitting in the missus's account for now i've no intention on spending it for at least 6 months, if they come looking for it, i'm gonna hand it straight back of course thats only IF THEY COME LOOKING FOR IT

The basic ethical purpose of Karma is to behave responsibly, and the tenet of Karma may be simply stated 'if you do good things, good things will happen to you - if you do bad things, bad things will happen to you.

drdre

best option is just give it back as they will find out at some stage.is the amount in thousands or hundreds

miju

suffice to say the figure is over €10k

not to get all philosophical with ye Pa ElGrande but who's to say this isn't the good thing for me which i'll then pass onto someone else and thus the circle continues LOL

Pa ElGrande

miju wrote:

suffice to say the figure is over €10k

not to get all philosophical with ye Pa ElGrande but who's to say this isn't the good thing for me which i'll then pass onto someone else and thus the circle continues LOL

You did bring philosophy into the equation. :rolleyes:

A credit union is an organisation of people that save together and lend to each other at an affordable rate of interest. It is owned by and exists solely to serve its members and is run by volunteers (committees and board of directors) to represent members' interests.

• Why would you attempt to rip off your community? (bad karma).
• Credit Unions have limited resources, the principal held in your account is not available for anyone else in the community to use. (more bad karma).
• You advertised your dilemma on a public board and stated what you intend doing, Other members of your credit union can read this also and initiate an audit now or after 6 months, and if court proceedings ensue there is a direct trail of evidence posted here leading to your conviction (real bad karma)
• You don't have what it takes to get away with it (worse karma)

Do the right thing for yourself and your community and give the money back.

miju

hmmmmmmmmmmmmmmm

Carb

I used to work for an auditing practice that had about 20 credit unions as clients, so this is what we got to spend half the year doing. I'd say that you chances of been caught are very high because of the amount. Although borrowing >10K might not seem that unusual, you'd be surprised at how small of a % of customers borrow this amount, so there would be a much greater chance of your loan been checked. Also, total loans granted will be reconciled against total loans paid, so there'll be a difference highlighted here, probably for your amount as I can't imagine this happens too often. Thats only if the Credit Union don't do there own check first. They're suppose to reconcile their own records monthly.

I'd say give the money back.

miju

ah sure rang em this morning, yer woman took the details said thanks we'll have a look and get back to you - she didnt seem to bothered to be honest ???????????? civil servants for ye though :-)

drdre

miju wrote:

ah sure rang em this morning, yer woman took the details said thanks we'll have a look and get back to you - she didnt seem to bothered to be honest ???????????? civil servants for ye though :-)

how much is it anyway? and the best option is just wait for a call back from them if they ever call you:D

parsi

miju wrote:

ah sure rang em this morning, yer woman took the details said thanks we'll have a look and get back to you - she didnt seem to bothered to be honest ???????????? civil servants for ye though :-)

And since when have Credit Unions been staffed by civil servants ?