Bank Customers Flee to Credit Unions

[vminfla]

Source: American Banker

WASHINGTON — An estimated 650,000 consumers have closed their bank accounts and opted for credit union membership over the past four weeks, according to CUNA, bringing the approach to Saturday’s Bank Transfer Day to a crescendo.

In a survey of 5,000 of its credit union members CUNA estimates that at least 650,000 consumers across the nation have joined credit unions since Sept. 29, the day Bank of America unveiled its now-rescinded $5 monthly debit card fee. Also during that time, CUNA estimates that credit unions have added $4.5 billion in new savings accounts, likely from the new members and existing members shifting their funds.

"These results indicate that consumers are clearly making a smarter choice by moving to credit unions where, on average, they will save about $70 a year in fewer or no fees, lower rates on loans and higher return on savings." said CUNA President Bill Cheney.

Cheney said the growth is particularly noticeable at larger credit unions (those with $100 million or more in assets, which account for about 20% of all credit unions – but count about 80% of all credit union members). The CUNA survey shows that more than 70% of these credit unions reported they have seen growth in memberships and deposits since Sept. 29.


Read more: http://www.americanbanker.com/issues/176_214/customers-flee-for-credit-unions-1043783-1.html?zkPrintable=true

---

Cause, meet Effect.

[mike_c]

1. I regret that I cannot move my money out of BofA on Saturday...

...because I did it nearly ten years ago. Makes me want to open an account there again just so I can close it on Saturday!

[SleeplessinSoCal]

14. I left B of A in the 70s . Then Citibank once in the 90s and again in 2004.......

I only left the 2nd time because they'd bought California Federal where I had my account. Even then it was like pulling teeth trying to close my tiny account.

[Bombero1956]

75. I've been a member of my credit union for 33 years

in that time my wife has had accounts at 4 banks, now TD Bank wants to impose a $9 monthly fee for more than 6 transactions in a given month. She just won't join me at the credit union.

[babsbunny]

2. I am gonna do it to

slowly, as to not draw attention to what I am doing.

[tavalon]

102. What do you think will happen to you?

I'm going to leave a bank transfer day calling card at my branch. It has a Guy Fawkes mask on it and I might even leave a rose.

[customerserviceguy]

3. I sincerely hope the credit unions

can handle the rapid influx. Our CU's here in the Northeast are pretty disappointing compared to the quality institutions I knew in the Pacific Northwest.

[glinda]

13. Ours is having longer hours on Saturday.

[eridani]

25. Sorry to hear that. Happy to say you are 100% right about the Pacific NW n/t

[rox63]

41. I've been very happy with my CU here in the Northeast

Been with them for nearly a decade.

[customerserviceguy]

96. If I lived or better yet worked near a credit union

it might have been an easier choice. However both CU's I used had really buggy websites, and I insist on being able to manage all aspects of a bank account online.

[rox63]

112. I do most of my banking online

I use online bill paying and transfers. I can even deposit checks by scanning them from my home computer. And I can use a fairly large network of ATMs at no charge that includes many small banks and other CUs. And my CU refunds up to $5.00 a month of charges if I have to use an out-of-network ATM. The only time in the last year that I've had to go to an actual branch of my CU was when I had to deposit cash into my account.

[tavalon]

103. BECU (Pacific Northwest - Yay)

has stepped up to bat with more hours and more staff. They've increased their membership by 17,000 in the last month.

[customerserviceguy]

116. As I recall

they were quite popular. I miss Columbia CU and Our Community CU, although I'm technically still a member of the latter. I just don't do anything with it, other than have my share account, and a credit card I don't use. They did finance my last car, which got paid off a year and a half ago, and I'd certainly consider having them finance my next vehicle purchase if possible.

[DeSwiss]

4. K&R

[Matariki]

6. Nice!

[ozone_man]

10. Captures the sentiment. n/t.

Moving to credit unions is a great trend.

[FailureToCommunicate]

12. +1 No more 'crawling to Potter!'

[wakemewhenitsover]

80. Perfect!

[SoapBox]

5. Yayayayay!

I've been credit union for over 25 years.

Here's is what I think of all of these banks:

Two Hands...*FINGER*

[ejpoeta]

7. i cannot close my account (which is not with b of a or one of the big bad ones...

but is with m&t. I am going to open a credit union account and then have my direct deposit switched and unfortunately cannot just close my account out. My husband already has an account at this credit union and I have been thinking about moving over, but was concerned about having all our money in one bank. But I am going to make the jump after all. Screw it. At least I know I would get dividends at the credit union.

[zinnisking]

78. Same here.

Cannot close my account yet because of direct deposit. I opened my CU account already though so it won't be long.

[tavalon]

104. Yeah, closing isn't a one day affair

but leaving a calling card at the branch on Saturday will make sure that they know why they are losing accounts. Which they should know anyway if they don't have their heads up their butts.

[zinnisking]

109. "leaving a calling card..."

I'm not sure what that means.

I have to keep both my savings and checking accounts open but I'm going there tomorrow to withdraw most of it. I'm going to leave $5 in each account. They'll get the message.

[tavalon]

115. Check this out:

http://www.facebook.com/Nov.Fifth I'm going to leave a card and a rose.

[L0oniX]

8. Did it a few weeks ago ...and happy I did. Got a 8.9% credit card too.

[unkachuck]

9. K&R....Looks like the 'scurvy little spiders' at BoA have started something....n/t

(this was for #4, I love your post, DeSwiss)

[AsahinaKimi]

11. I wonder how many of those 650,000 consumers were BoA customers?

I hope a large slice of the pie!

[tavalon]

105. Hey, don't forget those of us from Wells Fargo

and Chase.

[maddogesq]

15. These folks are 17 years behind me.

1994 is when I switched. I came from Comerica. OK, yeah, the Tigers play at the yard named after them, but yo get the idea. I WILL NEVER GO BACK TO A BANK.

[LeftyMom]

16. My CU has signs up advertising their longer hours Saturday to acommodate people moving their money.

:D

[itsrobert]

17. Not sure why people use the big banks

over credit unions. They have always been the better deal.

[Patiod]

32. Ease of use

Back before direct deposit, I could bank at the same bank my employer used and get my paycheck money the next day, or go to a bank of my choice, and wait 4-5 days.

Also, you really have to seek out a credit union out here in the 'burbs, where there are bank branches going up on every corner.

But credit unions are definitely the way to go, and worth seeking out and going through all the transfer procedures.

[tavalon]

106. Our new Credit Union has agreements with all the local CUs

so we can use all credit unions for deposits and for ATMs

[sarcasmo]

117. I think they call it a co-op, our credit union uses the one at the link below.

You can take your money out at thousands of locations around the country, with no fee at the ATM.



http://www.co-opfs.org/atm-locator.aspx

[Gormy Cuss]

60. I think it's a lack of understanding that there are community CUs out there

Years ago most CUs were linked to employment or membership in an organization such as a union. As CUs expanded in size and services more either became or expanded to community-based membership. These days there are community-based ones in most cities and thanks to BofA and other big banks, people are figuring this out. :)

[snot]

18. I moved my $ fr B of A in 2008 (to a credit union).

[tavalon]

107. We were going to move in 2009 but got blocked

We just started the moving process last week. It's fun to be part of the movement, accidental as it was in our case.

[GreenTea]

19. WHY WOULD ANYONE BE SO STUPID OR SELFISH OR LAZY AS TO STILL BANK AT BofA WELLS FARGO

CHASE or any other gigantic multi-national banking corporation? Simply because it might be a bit of an inconvenience and a little time it's worth it, think about others....Keep your money local in your community in local banks & credit unions, for jobs and knowing where your money goes and is invested.

It's never too late to take your money out of those heartless big banking conglomerates- Just do it, every little bit and everyone does counts. Make the change!

[Technowitch]

21. It's not always selfishness, stupidity, or laziness

Some folks just CAN'T. Some don't qualify for their local CUs. Some have banking sufficiently complicated they can't manage it.

A few years back, my wife and I were traveling overseas a lot -- and the ONLY way to get ATM cash was to have a big-bank account.

Have a little empathy, 'kay? (See my post upthread: We were able to switch to a local CU, and we did. Today.)

[GreenTea]

23. Untrue-You can qualify for a locally owned community bank if you're now banking at some conglomerate

And I've never had any problems banking overseas with smaller community banks (keeping money local to help ones community) that use the "Star" system and a half of dozen other ATM systems & options to receive cash abroad from community banks.....As well as many other alternatives to ATM's.

What I also wrote seems to be accurate - "Simply because it might be a bit of an inconvenience!"

Hope you had a wonderful trip.

And indeed I have plenty of empathy and compassion and understanding. However, I can also clearly see the obvious....Sorry, I'm sure you're a compassionate guy....but my subject line still applies here.

[Iggo]

45. I'm sure after you call them stupid, selfish, and lazy...

...they'll be more than happy to listen to your advice and make the change.

People love that kind of shit.

[GreenTea]

55. Get fucking real! These people YOU speak of will NEVER make the change. Why?

Because they are either "stupid or selfish or lazy" - Not to mention the always use winner.....that it's just so terribly INCONVENIENT! - Most will ALWAYS find a way, an excuse to support corporate fascism and simply accept & subject themselves and others to being treated like shit or ripped-off or not watch where their money is invested by these imperialistic oppressive multi-national banking collusive congratulates.....because it's just so much easier to simply ignore it.

Come on, give me some more excuses dude!

[Iggo]

56. Yikes!

It's the internet.

Relax, Killer.

[GreenTea]

57. O dude, no time for complacency and "relaxing" that's not my style!

[KittyWampus]

61. Now we know your style is being insulting, obnoxious and sanctimonious.

[LanternWaste]

64. Rather, it would seem intractable dogma

"that's not my style!..."

Rather, it would seem intractable dogma and false choices are... reminding me of a particular purple-tux-wearing, Sunday morning televangelist who does the same thing.

[sulphurdunn]

66. You need to persuade

people to move money. You can't force them. However, a fine way to persuade them not to ever move their money is to insult them over it.

[GreenTea]

72. I'll try diplomatic persuasion, found a Huffington Post, post....does this make it softer for you?

The following from some post on HP - no editing on my part (the spelling)....verbatim....

"I left Wells Fargo over a year ago------I was fed up with their Right wing corporate agenda----­nickle and dimeing every time they could-----­-I support small credit unions and banks----I am with the Musicians Union and they are fantastic! You do not have to be a musician to join.....b­est move I ever made in this horrible encomy."

Feel better now?

[sulphurdunn]

93. Yes. I grew up

in a Scandinavian community on tales of Viking Berserkers. In my later studies of history I could find no evidence that Berserkers ever influenced the outcome of a battle. Disciplined shield walls and patient warriors did. The Berserkes were, however, always the first to die valiantly. I saw the same thing in Vietnam 1,000 years after the last Berserker's bones had turned to dust. Knowledge, skill and patience, not rage, are a warriors truest weapons. Courage is a given. Semper Fi :patriot:

[zinnisking]

111. I've been wanting to switch to a CU for years now.

It was wise people like Thom Hartmann and ultimately OWS and BankTransferDay that motivated me.

I affirm it wasn't a foaming-at-the-mouth "Berserker" calling me names that finally impelled my ass.

I have a hunch that GreenTea is a successful motivational speaker who lives in a van down by the river!

[NYC Liberal]

81. So your target audience is "people who already agree with me"

Good luck with that.

[tavalon]

108. Yeah, it's real motivational, being yelled at

LOL. I'm moving anyway, but I wouldn't move because some idiot on a message board berated me.

[slackmaster]

47. My home mortgage is at B of A. They got it when they bought Countrywide...

...which had bought the loan from a small lender that originated it.

Wells Fargo has treated me quite well over the years. I have no beef with them.

My equity line is with Wells. I'm seriously considering using it to pay off the first just to get out of B of A.

[Zorra]

52. Because I have a joint account with an elderly relative

that has had major health problems in the past few years and she does not want to change. I only keep a minimal amount of my own money in the account, except for when I am traveling and use a debit card.

I wish I could move it. I'm going to start an account with a credit union today, in spirit of solidarity. For most of my life I did not use banks, and don't ever use credit of any type.

The bulk of my "banking" has always been done with the Undergound Bank of Folgers & Yuban, in a manner of speaking.

[davidwparker]

67. +1

[kaiden]

83. We nailed BoA AND Wells Fargo in one day.

On Tuesday, we joined Colorado Credit Union -- goodbye to Wells Fargo -- AND refi'd away from our Bank of America mortgage to a 1-point cheaper mortgage with the Colorado Credit Union. Do we feel lighter? Safer? Joyful? You betcha!

[japple]

99. You don't have to shout (or use all caps.) Why don't you have

a nice cuppa tea, dearie, or better yet, smoke some, and mellow out.

[Technowitch]

20. Count us among the 650k

My wife and I just opened a credit union account today, and over the next few weeks will complete the transfer of funds, payments, auto-deposits etc.

We had been with Bank of Albuquerque which, although it treated us okay, was part of a large regional based in Oklahoma. My breaking point was when I discovered the parent company, BOK Financial, not only participated in the mortgage nonsense, they put their name on a sports stadium.

I'm sorry -- if a bank is big enough and flush enough to buy naming rights... well, they're wasting their customers' money.

[boppers]

22. 4.5 billion. Before the 5th.

The numbers after the weekend will be verrrry interesting.

[AmandaMae]

24. I left Bank of the West a few months ago.

Overdraft fees were much too high.

[diane in sf]

26. I joined a credit union in 1994 after Wells Fargo ate First Interstate. I had really liked

First Interstate. The first time I went in Wells Fargo it was awful. Long lines, crowded parking, my friendly tellers (some moved over from First Interstate) were now behind 3" of bullet proof plastic and then they disappeared.

I started a new job that year and joined an affiliated credit union and have been happy ever since. My credit card interest is 8.2% almost two points lower than one I closed out with BofA. I get 1% cash back on it too. There are lots of free places to use my debit card--I've even used it in India and HongKong. The banking is very service-oriented and the people are friendly and helpful. I'm happy to be reinvesting in my community and not feeding the banking machine. I could go on...

[Horse with no Name]

54. I had a hard time closing an account at First Interstate

I was moving out of the area, went in to close it and it was pretty difficult because I still had one outstanding check.

The person had held the check over 30 days and I was like, geesh, just let it bounce and I will take care of it with them...but close the account.

They wouldn't allow me to.:(

I forget the reasoning...since it was in the early 80's...and I have slept a few times then,lol.

BUT...at that time First Interstate had gobbled the bank that I used previously. This of course was on the heels of the S&L crisis (brought to you by John Bushman---huge Bush supporter).

[florida08]

27. America waking up

Wish everyone would look for the better deal in their area. We moved our money market from Wachovia a few years ago when they were about to go under. Now they're WF which services our mortgage. Most incompetent group I've ever had the displeasure of working with.

Still have a small checking there because of automatic payroll deposits and auto pay life insurance, but working on changing that too.

[glowing]

28. Tell me about it... I'm stuck at Wells Fargo too... I'm working on my hubby

to move over to a credit union. It will take time to set it up before we just close our accounts all together.. He's trying to make sure he has money certain days ahead of time to set a bill pay. I've never heard of such a stupid system. Just another way for the bank to screw up paying bills and charge extra fees. I told him I'd have a list of local credit unions and their advantages over the weekend.. and then we can open an account and begin the switch.

[meow2u3]

34. I'm getting out of Wells Farto

I opened a credit union account at one with the ideal name: People First. I have to keep my Wells Farto account open to cover a post-dated check I made out last month, plus a debit item. Once the debits clear and I get the direct deposit and internet bill straightened out, I'm telling Wells Fargo good riddance to bad rubbish.

[Crazy Dave]

31. I haven't heard one person ever say one good thing about Wells Fargo

Incompetence, rudeness, etc.

How did they get so big and popular with such consistently bad service?

[TK421]

113. I haven't a clue, but FUCK Wells Fargo!!! ever since these bastards came to

town, they have fucked up everything with my account ( and I never thought I would say this, but Wachovia was better )

[sarcasmo]

43. Grand Rapids municipal employees credit union is the best.

[freshstart]

29. Anybody have any idea why the National Association of

Credit Unions gives more heavily to Republicans?
http://www.opensecrets.org/pacs/pac2pac.php?cycle=2012&cmte=C00040659

It isn't a whole lot of money...however they seem to constribute more heavily to Republicans. I recall in 2008, CUNA was high on the list of Ron Paul contributors.

Credit unions are supposed to be member run...if you join one...ask questions about where the $$ goes and be sure to tell them you don't like how the national association is donating. Better yet...get on the Board.

I've banked at my credit union for over 20 years and they are great, but like everything else...we need to watch them.

[Crazy Dave]

30. The CEO of my credit union tells his customer service reps...

...to give members his cell phone number to call him if they have a problem and are not happy with the service and/or help they are receiving. He does answer or return the calls even if it's on a Sunday.

[Demstud]

33. I'm working on it, but it will be a long process with credit card debt..

I'll be joining a credit union in December when I visit North Carolina, so my primary account will be moved there. The biggest problem is going to be the thousands in credit card debt I've accumulated. Especially since my interest rates got jacked up before the new credit card rules came about. The excuse was a missed payment on a card that had a balance of $0. At the time apparently there was a $1 monthly non-usage fee that I was not aware of.

[WestSeattle2]

39. Many credit unions offer consolidation loans to clear credit

card debt. It's something to look into. Most charge 7%-9% and require closing of the credit card accounts they're paying off (they close the accounts for you when they disperse funds.) It will save you a ton of money and get the debt monkey off your back.

[Demstud]

71. Thanks!

Thanks for the tip, I really know nothing about this stuff. Just started learning personal finance this year, and didn't even know what a credit union was until recently, lol.

[WestSeattle2]

110. Sure thing! Most of us have been in your shoes. Be aware

that closing credit card accounts can lower your credit score. That's normally not a big deal unless you're planning on buying a car or house in the near term. Credit scores rise rather quickly when you pay off the debt, so the lower score will only be temporary. Good luck - living free of debt rocks.

[davidwparker]

69. do a balance transfer to a credit union's card. this was how

I move AMEX balance from home improvement (stupid). AMEX went up 5% on the APR just because they could. Never missed a due date.

After I moved my money to a CU (when HuffPo had that campaign), I eventually moved my balance to one of their cards, which should be paid off in June.

[mainer]

35. I heard that this is exactly what BofA wanted

Someone in the banking world told me that BofA wanted to purge the small account holders who are often overdrawn, and this was their way of doing it. I don't know if it's true or not.

[WestSeattle2]

40. I doubt that - they make a pile of cash off those overdraft fees.

[sarcasmo]

44. Big banks love those accounts who over draw, they make Billions on the overdraft fee.

[Gormy Cuss]

65. Not the ones who overdraft -- it's the small acountholders who DON'T generate fees.

They don't make much money from small accounts with positive balances.

[mainer]

70. OK, maybe that's what the banker meant and I misunderstood.

Basically, it was about getting rid of small accounts and retaining the larger ones, because the small accounts don't generate much income for the bank.

[sabrina 1]

85. I doubt that, as they backed off the $5 fee they were planning

on under the pressure of so many people leaving. If they wanted to get rid of their small account holders, that was a great way to do it. So obviously they did not.

[Gormy Cuss]

114. IMHO, they backed off the fee because of the bad PR.

What they'll do next is try out other fees.

[ccavagnolo]

36. Does anyone know a website

or other area of information where I could look up a better bank or credit union to change over to?

The closest ones I can locate are about 20 miles from my house, and one is for employees at the prison, the other for Pepsico and the other for Academics. All of which I don't qualify for.

[Paula Sims]

38. Go to NCUA.GOV

First of all, they have the list of member NCUA credit unions, those that are federally (vs privately) insured. Then read the qualifying requirements. You'd be surprised. The one we're considering, although for people in the medical field, also does a "community sweep" so if you're within a given boundary, you qualify. I remember hearing about a Lee Credit Union in San Francisco where one could join from anywhere in the US if their last name were Lee.

Good luck

Paula

[sarcasmo]

118. Go to this credit union co op link and punch in your zip code.

http://www.co-opfs.org/atm-locator.aspx

[Paula Sims]

37. Just be careful which credit union you choose

I'm all for dropping the big monoliths however, watch were you leap. Many credit unions do NOT have federal insurance but rather private insurance, most commonly ASI. A recent GAO report shows ASI in a questionable light because it's so concentrated in larger credit unions.

Why is this issue important? If the private insurer goes under, then there is NO protection for your money. For those "old enough" to remember the Ohio S&L debacle, that started with private S&L insurers going under and led to the whole calamity with the S&Ls (not only, but).

So go to the NCUA.GOV web site to check if your credit union is federally insured. If it is, great. If not, consider your comfort level.


Paula

[Arugula Latte]

53. That's good information. Thanks.

[No Elephants]

42. Very good news.

[Thav]

46. I'm closing my BoA account today.

I've moved to a local bank, not a CU though.

This 19 year customer has had enough. Good bye BoA, good riddance.

[sarcasmo]

122. +1

[mstinamotorcity]

48. TombStone

TombStone

[Yon_Yonson]

49. I ONLY wish I had money deposited in these banks ...

... so I could withdraw but I am sadden to say I do not!

:yourock:

[azygous]

50. I left in the 80's

When B of A suddenly instituted an annual fee for holding their credit card, I canceled it, but it took months of fighting with them to cancel the account and quit sending me statements demanding I pay the fee.

They showed their true colors way long ago.

[Horse with no Name]

51. We have a local bank

The President of the bank lives next door to me.

The tellers live down the street.

They donate locally and support our community and their "support" does NOT cost us tax dollars (Comerica)


I'm happy with that situation.:)

[valerief]

58. Some of us moved our money last year or the year before or before that.

But we did it for the same reason!

[stubtoe]

59. Push, meet shove!

The banks have hit the wall on customer abuse.

[louis-t]

62. I am flabbergasted at the response.

I really didn't think that many people would do it. This is great.

By the way, I was in BoA this morning to pay on a credit card. There are some very nervous looking managers walking around. Feel sorry for the employees.

[sarcasmo]

82. It will be interesting to see how much BOA stock drops due to this mass move.

[colsohlibgal]

63. Stick It To The Banksters!

I moved my money from Chase to a local credit union a couple of years ago and it felt right, just, and good.

Like most of us I'm not wealthy but enough of us together can hit them where they hurt.

All these steps are giving the Washington cesspool something to ponder, I see fear gripping the corporate state, fear that we are no longer their timid enablers.

[crunch60]

91. Returned my application from Chase today in their pre paid envelope and said

"Not a chance Chase" , I support my local credit union and OWS! I am one of the 99%. felt good..

[katty]

68. great!

[BigD_95]

73. sounds crazy

But I belong to 3 CU. I have my direct deposit go into 3 different CU. One I use for savings, one for for normal banking and bills. I just joined a 3rd through my work because they had a real special on a car loan so I had them pay off my car loan and now I pay them with a real low interest rate plus they gave me $50 to open. So I save on interest and get $50 for my troubles.

I can never understand why people dont use CU. My stepson is with a bank that his dad signed him up under when he was a kid. They make him pay all these different fees for dumb stuff. I tried talking him into switching but young kids is like talking to a brick wall. Now I got him a job where i work so hopefully he will sign with the CU through our work.

[Mulhane]

74. Banksters will just assimilate CU's

We all know how it works in Congress. it may be illegal now for banksters to buy CU's, but Wall Street can buy regulation waivers and loopholes, some other attorney dirty deal or even outright revocations. The corporate money bag is bottomless.

[L0oniX]

100. Uhm ...that would be the Borgsters.

[sandyj999]

76. This is the way to fight back I did it over a year ago and have never regretted it.

[sce56]

77. Banks! Banks! We don't need no stinking Banks! I droped mine in 83 when I found a FCU

Have never used a banks since!

[La Lioness Priyanka]

79. i am doing this.

[Iliyah]

84. Well my BOA don't care

Why, because they claim it won't put a dent in their business.

[sabrina 1]

86. When billions disappear from their Bank, they'll care.

They might not care about a few accounts, but already they have backed off their $5 fee as a result of so many people planning to leave.

[thereismore]

87. Haha, I am taking my business there too, today. nt

[Sarah Ibarruri]

88. Good! Hopefully, this and OWS will get the message across loud and clear! nt

[Deep13]

89. I'd join them, but I already use a small, local bank. nt

[PatrynXX]

90. Even though Regions Bank has dropped their $4 a month

Debit card charge, it set in motion me leaving in October. Haven't closed it yet. but by the end of the month , likely a done deal. Everythings at the local Credit Union now and runs better than the national bank ever did. Union Planters Bank I miss though. This is what happens when regulations drop and stupid banks merge with good banks :(


And they have alot of my money. was $5 a month then $8 a month. Supposedly it's $10 a month if I don't keep $50 in there. Been paying out the ass since a year ago for that shit. Unless they refunded all those, I'll be leaving at the end of the month. process started around Sept 29th. when some SSD came in.

[soapboxtalk]

92. I've had it up to here

I always thought I was able to game with the banks and get their services without paying interest or fees.

I just looked at my most recent statement...it is going to be damn impossible to maintain free checking...there are so many new qualifications it's just crazy.

I think I need to find a credit union...do I just go in an apply?

[Kaleko]

97. Yes.

The CU will help you transfer your funds.

[sarcasmo]

119. Go to this link, punch in your zip code and find a credit union near you.

http://www.co-opfs.org/atm-locator.aspx

[iris27]

94. We opened a CU account after moving this summer, really only intending to use it to deposit

paper rent checks (our property manager doesn't have direct deposit) because our main bank has no branches in TX and charges 50 cents a check for photo deposit.

We are now planning to slowly move most of our business out of the big bank and to the CU. Their debit card *gives* 10-15 cents back per transaction - talk about a 180 from the big banksters' planned debit fees!

[WillyT]

95. HUGE K & R !!!

:bounce::woohoo::bounce:

:toast:

:hi:

[mod mom]

98. Great news. I did my transfer back in early '09 and couldn't be happier.

[tavalon]

101. Three years ago, we tried to move but one of our household members was denied

So, he tried again last week and was accepted so we all moved over and are happily, accidentally part of the movement. Bye Wells Fargo. I did want to say that WF's employees have always been very nice. I'm a bit sad that some of them may lose their jobs. Not sad enough to stay.

[and-justice-for-all]

120. Good!! nt

[Evasporque]

121. Republicans and Banksters are drafting some law...

That will cripple credit unions...most likely.