Elizabeth Barrette (ysabetwordsmith) wrote,
Elizabeth Barrette
ysabetwordsmith
  • Mood: accomplished

Putting My Money Where My Mouth Is

After some searching, we found a credit union that we could join.  A check of their website tonight, to follow the account setup progress, revealed this note on the homepage: "It's your money.  You shouldn't have to pay to use it.  Our debit card is still free."

This is what credits unions should be all about.  Some of them act more like banks.  Look for the good ones.

Tags: economics, personal
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  • 7 comments
fayanora

fayanora

October 21 2011, 05:25:06 UTC 9 years ago Edited:  October 21 2011, 05:25:43 UTC

I'm with US Bank, which still has free debit card use. They also refund any ATM fees when you use ATMs not affiliated with their company, and their own ATMs are fee-free. The only problem is overdraft fees, but I have things set up so overdrawing is... well, it won't happen at all with debit card purchases, I don't know about checks.

The credit union you're going with, does it charge any fees? Overdraft fees or the like?
ysabetwordsmith

Thoughts

ysabetwordsmith

October 21 2011, 05:31:44 UTC 9 years ago

Almost none. There's a one-time share of $5 that you have to leave in, and there are overdraft fees, but that's about it. No big list of fees for everything you could possibly do with money. They have overdraft protection: if you have enough money in your savings account to cover a bounced check, it automatically transfers to avoid the overdraft. That's nice if you can afford to keep a buffer.
siege

Re: Thoughts

siege

October 21 2011, 14:46:11 UTC 9 years ago

My credit union does that, but charges a fee every time the service is used. I don't mind as much, since it's better than an ongoing overdraft fee.
aldersprig

aldersprig

October 21 2011, 15:09:35 UTC 9 years ago

I've been amazingly pleased with Citizen's Bank, which we originally chose because of their hours + accessibility.

Overdraft fees, but no other random fees.

Our car payment is through a credit union, and my only frustration has been that they are still very much in the 1950's (they can't take credit card payments or check-over-phone)
ysabetwordsmith

Thoughts

ysabetwordsmith

October 21 2011, 18:59:18 UTC 9 years ago

>>Our car payment is through a credit union, and my only frustration has been that they are still very much in the 1950's (they can't take credit card payments or check-over-phone)<<

That could be development lag, but could also be safety precautions. For instance phone checks can be really, really insecure. You might ask if they have an explanation for that policy.
tuftears

tuftears

October 22 2011, 01:15:26 UTC 9 years ago

I bank with Technology Credit Union myself.
ravan

ravan

October 22 2011, 04:02:08 UTC 9 years ago

I switched from BofA to San Jose Credit Union in 2009, when BofA started jacking up their fees after just taking a bailout for the CDO mess. I'd been a customer there for nearly 30 years, and between me and datapard we closed 4 accounts.

My credit union has online banking, a big ATM network with other credit unions (including one at my current job), and people who recognize me when I walk in. Plus, when I needed cash for car repairs, they processed my loan application in a couple days, not weeks.