Credit union - transferring acount

Vladi_

Hi, I'm transferring my account from one CU to another since I've moved. Now the CU i want to move to told me it takes a couple of days but the one I'm transferring from says a couple of months (!!!). It's over a month and this stage and they don't seem to have any communication between themselves. Has anyone done this and how long did it take? Thanks.

coylemj

Each CU is a separate entity with it's own board of directors and rules. What I'd have done is to simply close one account, open another and transfer my deposits over. Are you moving a loan and/or a bundle of direct debit mandates or is there any other reason why it could be so complicated?

Vladi_

coylemj wrote: »

Each CU is a separate entity with it's own board of directors and rules. What I'd have done is to simply close one account, open another and transfer my deposits over. Are you moving a loan and/or a bundle of direct debit mandates or is there any other reason why it could be so complicated?

I know that they are separate just the difference between few days and few months is a bit drastic. I would consider closing the account first but couldn't travel 200km just for that in lockdown. Also my new CU described it as a quick and simple process. I do have a tiny bit of loan left but the new CU told me to write a statement that I want to close it from my shares and they've sent it on to the old one with all other documents.

coylemj

Vladi_ wrote: »

I know that they are separate just the difference between few days and few months is a bit drastic.

Ok, but nobody here can help you.

For example, if I was able to tell you that I moved my account from Ballyragget CU to Clones CU last November and it all went through in a few days, what value is that to you?

Joe4321

Quickest way for you would be to clear loan, get details of account in new CU and transfer all your savings, will only take a couple of days, I have done this some years back and had no problems, two months seems very long.