Local Banks and Credit Unions

[GTO Man]

Smart consumers are moving away from using large national banks for their banking needs. Why contribute to the CEO’s inflated compensation when you can help out local businesses.

How many of you have switched from using a large national banking institution to a local bank or credit union?

I have closed my Chase accounts in favor of the UW Credit Union and have been very happy about it.

Topic

[moparkid25]

For many years, I had a Chase Platnum credit card. I recently paid it off and closed the account. When I got the card, my interest rate was 7.99%, and it was over 15% when I closed it. Raise the rates on the guy who pays his bills… :angry:

I had a loan from Bank of America, another sham of a company. I paid that one up ASAP as they liked to play variable interest game on what was supposed to be a fixed rate loan. My stock broker had me into some BOA stocks, I called him and told him to sell them after the bent-over customer service I recieved. BOA is also one of the companies giving credit cards to illegal aliens, who in turn don’t pay back what they borrow and the cost gets passed onto the consumer :angry:

A few years ago, I also had problems with Amcore Bank. They lost a portion of what was in my checking account and couldn’t account for it. I immediately closed all my accounts with there bank.

I know do all my financial business under one roof with a small, local bank that has a few branches. They are really good with working with there customers, and I have not had any problems at all. I also have a credit card with them that I rarely use. The big banks don’t deserve nore will they get any more of my business.

[Anonymous]

Neither. I don’t use lenders anymore. If i don’t have the money to buy something, i don’t buy it. I just save till i do. I’m only going to be using them for my checking. Do credit unions have a better checking interest rate???

[Amigo2k]

A little of both for me. Local I’m with Home-Savings (opened my first account at the age of 4) and I have an account with an online only bank Emigrant Direct (they are been around since 1850’s). I use the online one more for a savings account since they have much higher rates then savings accounts with home-savings and moving cash online into a short term CD to get a slightly higher rate is only a couple of clicks. If I need access to the online money a couple of clicks (and 2 days) I have access to the cash.

[moparkid25]

ddhemi wrote:

Quote:

Neither. I don’t use lenders anymore. If i don’t have the money to buy something, i don’t buy it. I just save till i do. I’m only going to be using them for my checking. Do credit unions have a better checking interest rate???

Truer words have never been spoken. Too many people borrow on things they shouldn’t. My grandpa taught me that you only borrow on homes and cars. A home is a place to live, and you can’t pay for your home if you can’t get to work. Cars depreciate, but home’s don’t. My credit card is for emergency’s only. I use my debit card to keep track of all my purchases.

I don’t like to carry cash if I don’t have to, but I haven’t been to a car show yet that will take my debit card to pay my registration :whistle:

[Anonymous]

Always have banked local. I don’t carry any account with a person I can’t shake hands with.

[Anonymous]

I banked with Anchor Bank for many, many years, and can’t complain about my relationship with them over the years. But, a couple of year back, I moved all of my accounts away from Anchor Bank to Summit Credit Union, except my home mortgage, which is a 15 year fixed rate deal @ 4.45%.

I have been extremely pleased with Summit Credit Union! I have had passbook savings, credit cards, car loans, etc.

My son does all of his financial business with the UW Credit Union, and my daughter does all of her banking/borrowing/saving with UW Credit Union as well.

My wife likes ING Orange for savings, checking and CDs, although the interest rate they offer is way down from a couple of years ago.

[Author]

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