|
|
EsnRedshirt Special user Newark, CA 895 Posts |
Critter asked me to go into detail when I mentioned I was switching from a larger bank to a credit union in another thread.
There's not much detail to go into, really. I've signed up with Technology Credit Union, and as soon as my first direct deposit goes into the new account, I'm closing out my B of A account; I got tired of them charging me various fees, tired of them sending me ads marked "Important account information enclosed!", tired of them raising the rate on my credit card, despite my not having used it for years, and just tired of them in general. The switchover's a hassle, as you'd expect- fortunately, I never signed up for automatic bill pay, so I don't have to switch all those over, but I did have to stop an automatic transfer to my investment account. Also, BofA took the maximum allotted time to process the transaction that put money into my new account. Technology Credit Union offers the same features BofA has- online banking, Visa debit cards, online bill pay, etc. They don't have as many ATMs, of course, but I rarely use one anyway. They do have multiple branches close to where I live and work. Also, they have fewer fees- and the ones they do have are smaller. I signed up for an account where I don't have to pay any monthly fees. There's also dividends- when you join a credit union, you're really joining- becoming a partial owner. My savings account draws a dividend that's substantially higher than the 0.01% interest I got from my BofA account. (Although, if you're investing, there's better places to put your money than a savings account- the savings account just makes it a little quicker to get at the money.) Another perk (which I don't plan on using immediately) is that they have much lower rates on all their loans. The bad- to join Tech CU, you need to live in a certain area (one of several Northern CA counties), work for a sponsor company, or have a family member who does. Since my company is a sponsor, switching my direct deposit was easy, as well. However, like I said, credit unions in general don't have as many ATMs as larger banks. And while using your credit and debit cards outside the area is easy (since they're through Visa) you'll probably have to switch banks again if you move. Even if you don't qualify for Tech CU, or move out of the area, there are credit unions all across the country. In fact, I found out about Tech CU through this credit union locator web page: http://www.creditunion.coop/cu_locator/quickfind.php Of course, you should do your research. Some credit unions are better than others. But if you're tired of big bank runarounds, you may want to look into joining a credit union. Anyone else have experience or wisdom they want to share? Or questions? I'll try to field them, but I'm not the best resource around for this, for certain.
Self-proclaimed Jack-of-all-trades and google expert*.
* = Take any advice from this person with a grain of salt. |
critter Inner circle Spokane, WA 2653 Posts |
Wasn't me, most of my family uses the teachers credit union
"The fool is one who doesn't know what you have just found out."
~Will Rogers |
EsnRedshirt Special user Newark, CA 895 Posts |
Oops, sorry, you're right- it was landmark. I didn't really want to have to wade back through the thread in question to verify
Self-proclaimed Jack-of-all-trades and google expert*.
* = Take any advice from this person with a grain of salt. |
critter Inner circle Spokane, WA 2653 Posts |
Not a big deal.
"The fool is one who doesn't know what you have just found out."
~Will Rogers |
EsnRedshirt Special user Newark, CA 895 Posts |
So how's the teacher's credit union treating them?
Self-proclaimed Jack-of-all-trades and google expert*.
* = Take any advice from this person with a grain of salt. |
critter Inner circle Spokane, WA 2653 Posts |
I've never heard them complain.
"The fool is one who doesn't know what you have just found out."
~Will Rogers |
MagicSanta Inner circle Northern Nevada 5841 Posts |
Tech Cred is very good, my sister have been with then for years.
|
landmark Inner circle within a triangle 5194 Posts |
Thanks for posting this Esn. Can you withdraw money using a non-credit union ATM?
Click here to get Gerald Deutsch's Perverse Magic: The First Sixteen Years
All proceeds to Open Heart Magic charity. |
EsnRedshirt Special user Newark, CA 895 Posts |
Landmark- yes you can. In my case, any ATM with the STAR label (and most have them) is in the same network. I would have to pay fees for non-bank ATM usage, but the same thing would happen if I used a non-BofA ATM.
In addition, if I use an ATM in the CO-OP or AllPoint network, I won't pay any fees or surcharges at all. Oh hey, I just did a search- there's one of those ATMs in my local Costco.
Self-proclaimed Jack-of-all-trades and google expert*.
* = Take any advice from this person with a grain of salt. |
Magnus Eisengrim Inner circle Sulla placed heads on 1053 Posts |
About 10 years ago I was Chair of a not-for-profit society. We ran into financial troubles (un unexpected reduction in revenue crippled us). None of the big banks would give us the time of day. The biggest local credit union (now called Servus) met with us, built a proper financial plan for us, extended a line of credit and helped us back to financial health. Absolute heroes in my eyes.
John
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned; The best lack all conviction, while the worst Are full of passionate intensity.--Yeats |
Skip Way Inner circle 3771 Posts |
I love my credit union. Low interest no-hassle credit card with none of this "Sneeze and we'll raise your interest rate" crap. In fact, they called me a year back when someone in Texas used my VISA debit card number to make unauthorized charges totaling $1800. They immediately returned the money to my account, canceled the card and issued a new one - no questions asked.
My money goes into savings and is drawn into checking as needed. My checking account earns interest, as well and there are no service charges on my accounts. I earn higher rates on my CDs than at any of the banks in town. I also have access to the STAR and AFFN ATM networks around town without the "guest" transaction charge. My last two cars were purchased through this credit union with pre-approved loans at 3% and I received a post-best-deal discount by buying through dealers that partnered with the CU. Altogether - a complete win-win. I'll never go back to the no-customer service big banks ... especially BofA. If you can join a well-managed credit union, I highly recommend it. For active duty military, vets and retirees (and family members) USAA is another excellent option.
How you leave others feeling after an Experience with you becomes your Trademark.
Magic Youth Raleigh - RaleighMagicClub.org |
MagicSanta Inner circle Northern Nevada 5841 Posts |
Landmark, ESNs credit union is a very good one with a lot of members. I've never heard a complaint about that specific credit union and most of my coworkers and family were with them. I was with GE credit union but it wasn't nearly as big and had the coverage as Tech Cred.
|
The Magic Cafe Forum Index » » Not very magical, still... » » Lets talk local Credit Unions. (0 Likes) |
[ Top of Page ] |
All content & postings Copyright © 2001-2024 Steve Brooks. All Rights Reserved. This page was created in 0.03 seconds requiring 5 database queries. |
The views and comments expressed on The Magic Café are not necessarily those of The Magic Café, Steve Brooks, or Steve Brooks Magic. > Privacy Statement < |