February 2013 9
Credit union is a type of financial institution wherein the owners are the members. In Trinidad and Tobago, there are several credit unions. And just like in other credit unions in other countries, they are also operated by the members. As a financial institution, they provide financial services to the owners and members. Members from different groups may organize credit unions. For example, there are large companies or organizations where the employees form their own credit unions. Thus, in order for an individual to join the credit union he must first be a member of the group and second, he must deposit his money with the union. Once he has deposited his money, he then becomes a member and part owner of the credit union. In general credit unions have directors who are also members and were voted to become directors by the other members. The directors are the ones who manage or run the credit union. They make the decisions based on the principles of credit union, such as imposing lower interest rates from loans.
In Trinidad and Tobago, the same principle applies. As such, members of the credit union receive the same benefits and services, such as loans and savings. More importantly in the country, credit unions provide the same if not greater services and benefits than the other financial institutions, such as Trinidad loans and Trinidad mortgage. In Trinidad loans for example, members can apply for loans when they need money. Compared with banks, Trinidad loans from credit unions have lower interest rate. This is because the Trinidad loans from credit unions were basically designed to help the members or owners of the credit unions. Trinidad loans are offered to members who are also owners to serve them during financial needs. They can apply for Trinidad loans for business or personal use. The credit union does not impose higher interest rate from the loan because it would be counter beneficial to the purpose of the union. This is the reason why many in the country join. They know they can get lower interest from their Trinidad loans.
Credit unions in trinidad and tobago have the same stability as the other financial institutions, such as Trinidad banking institutions. In Trinidad and Tobago, the six biggest credit unions account for half of all the credit union assets in the country. They have assets ranging from $200 TT dollars to $750 million TT dollars. The top 17 credit unions on the other hand account for ¾ of the assets of the industry. One of the largest credit unions in the English speaking Caribbean is Eastern Credit, with an asset base of more than $1.5 million TT dollars. It is the only credit union in the country with its own call center and its own ATMs. At present it has 12 ATM spread across the country.
There are so many things that people can do online and that can help them move their days along much more quickly. For the most part, the internet does play a huge part in all of this for many people around the world today. Day Online Trading is a new phenomenon that everyone is trying. It is so much fun to do a day trade when you are at work or have some time to spare. Day Trading is a hobby that professionals of every wake and path enjoy engaging in. Sometimes they play the stock market or try forex trading. Even so, the day online trading activity of many consumes hours upon hours of their weeks. Some wonder what they would do with all that extra time if they were not so ‘busy’ with their day online trading activities.
To participate in day online trading, it is important to have a day trading plan that you can abide by. Too often the day online trading losers are the ones that did not have an online day trading plan. They simply did day online trading without thinking about the money they lost and had no plan to recoup it once they found that they were losing at the day online trading game. With this in mind, it is important to consult with professionals and find out exactly what the best strategies are and to role play those strategies before getting into the hard core action playing that goes on when someone gets online to do a day online trading game or move. By doing this, many will save valuable and precious time and will maximize on their abilities and reduce the losses that they will endure. What this will do is increase the stamina and skill of the people that do choose to continue partaking in these activities.
Do you like day trading? Do you like the thrill of the latest earnings report, predicting the next geopolitical crisis, or just laughing in the face of the markets when they all go in the wrong direction? There are several day trading plans out there for every need, from equity and mutual fund traders to derivatives and forex. Using these day trading plans can supply you with decision making analytics, and help you execute what you feel is the best strategy.
A good online day trading plan has a platform connected with the trading world. This day trading plan may or may not subscribe to Bloomberg terminal services, but it does have access to each of the major exchanges. Nearly all day trading plans should have access to futures prices and options ladders from many exchanges, such as CME, CBOT, ICE, and others, not to mention NYSE Euronext. It should come with statistical software that allows you to see Bollinger bands, stochastics, and other data. Finally, any decent day trading platform should come with predictive analysis, although bear in mind that true, accurate prediction for any day trade is impossible.
The best day online trading plans have FOREX trading as well. FOREX trading, which averages $3 trillion every day, is done mostly by very large banks and speculators. A good day trading plan should have access to one of these FOREX merchants or futures merchants, and let them trade the same way the big players would.
The best day trading platforms live off information. News, statistical analysis, and access to internal market workings are no longer sufficient for an edge. Now, an online day trading plan needs to make you every bit as involved as a floor trader once was. To place a day trade, you need to be on guard and ahead of the market at all times. After all, you are there to make a profit. Should you not get some help along the way?
Those that like and regularly engage in day trading could probably go on for hours about how it is not only a terrific way to make money, but how it can be a great way to diversify ones portfolio. Using an online day trading service could be a terrific way to help one get ahead financially. While some people may be initially hesitant, the truth of the matter is that day online trading could be a very simple thing to learn about.
With Forex trading, anyone can learn about this intricate process. After going over and soaking up the basics, one can take hold of a customized day trading plan that will point them in the direction of things they would like to invest and buy stock in. Much like what happens at the stock and commodities exchange, day trading allows one to participate in the strongest economy in the world. The opportunities are virtually endless when it comes to what trading online can provide.
People will have a huge wealth of knowledge to choose from and read through before each individual day trade is made. Like other popular forms of investing, day trading is something that one should never go into feeling blind. Those that have questions that are not immediately answered by the breadth of information in front of them will be able to get the answers they need by picking up a phone, or sending an email.
Finally, day trading should not come with a huge financial cost. What is the point of making a trade if there is a fee attached that will drain any potential profit that could be made? Those that are worried about the costs will feel a great sense of relief, knowing that they will be able to pursue their day trading ambitions without having to cough up a ridiculous fee every single time.
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