‘Bank Transfer Day’ Causes Credit Union Buzz

[Donnachaidh]

http://www.commondreams.org/headline/2011/10/10-9



Even with most credit unions closed for Columbus Day there was plenty of online buzz, and uncertainty, about what the credit union industry role might be on “Bank Transfer Day,” the latest event surfacing from the “Occupy Wall Street” protests.

Industry sources, speaking off the record, suggested any wholesale switch from large banks to CUs on Nov. 5, the day designated by one Californian and carried atwitter Monday, could conceivably put net worth ratios out of whack.

The balance sheet problem was raised by several industry officials as a potential hazard as online articles focused on what “Occupy” supporters are calling now for a specific action to underscore their complaints against big banks and corporate “greed.”

For the record, Mark Wolff, CUNA senior vice president-communications, said only that the trade group welcomes the idea of “a viral 'Bank Transfer Day'” since it shows “just how angry consumers are becoming with their treatment by big banks” and will now look at CUs.

More at the link --

[Firebrand Gary]

1. I will close 5 accounts on this day.

I give my word. I have multiple accounts currently held at Wachovia that is converting to Wells Fargo. I will close all of my account on November the 5th as I have already opened accounts with a great credit union.

[Matariki]

7. Bravo!

I hope many people follow your example.

I moved to a CU years ago and am very happy with them. I need to move my credit cards as well.

[glinda]

11. We just left Wells last week and went to a CU.

[midnight]

54. Good decision.

[Arugula Latte]

86. Glinda, I would like to do the same.

My only reservation is the large network of ATMs these big banks have. How do you get around it? Do you just plan ahead more in case you need cash, or ...?

On edit: Just read further downthread where this is being addressed ...

[lpbk2713]

2. I recommend CU's highly.

I've been a member for 40 years.

If you like being nickel and dimed to death go ahead and stay with the banksters.

[roguevalley]

6. I've belonged to Credit Union 1 since they were Teacher's Apple

bank. I LLLLLLLLLLLLLLLLLLLLLLOOOOOOOOOOOOOOVVVVVVVVVVVVVVVVVEEEEEEEEEEEEEEEEEE my credit union.

[tabbycat31]

26. what would you recommend for someone who is on the road for months at a time

My job takes me on the road for months at a time, and sometimes I don't have access to direct deposit (it depends on the size of the race I am working on). The one advantage I have to using a big bank (now Wells Fargo) is that there are branches everywhere I go.

I would love to switch to a credit union, but I worry about being able to access my $$ and make deposits while on the road.

[lpbk2713]

28. You might find some info here ...

Link: http://www.ncua.gov/


The unique problem you might have is in making timely deposits. Unless you can find a location in the same network you would likely have to mail your deposit in, adding a few days to the time/date of deposit. Withdrawals are not so much of a problem. I can make ATM withdrawals all over the USA as long as it is an ATM on the same network as my CU. I think there is something like a .50 cent charge. Most CU's will give you a pamphlet where you can find network ATM's or you can get it online at their website. Hope this helps.

[MrsBrady]

32. many credit unions are part of a "companion system"...

our credit union is a large one used my many unions, based in MD, cuz that's where his former employer has it's main office....

anyway...

I can go to a local credit union here in Texas, that is part of the companion system, and deposit or withdraw funds.

You would just have to make sure your credit union participates in this system.


Also, our credit union has a thing where I can scan the check and deposit it online....
and they are about to launch a feature for smart phones where i can take a picture and deposit it through a smart phone.

I can withdraw funds from any 7-11 without a fee, and there is an ATM about 2 miles from my home that can take deposits from my bank.
And there is an American Airlines credit union 2 blocks further down that I can walk into and use, as they participate in companion banking.
There are also some 5, 10, 20 miles away. But they all over the country, and can find them if I plan ahead.
My credit union has a search function for this on their website.

Look into it.

I qualify for another credit union and plan to open an account there, just so I have access to that credit union if I ever feel I need it.
It's even larger than the one I belong to now.

[Blaze Diem]

34. A fellow Texan, live in the Hickory Creek/Corinth area. (S. Denton)

I believe the larger of the CUs in the area is DATCU. It is near my home and I can and no doubt will be joining this one as of Nov 5th.
I am just asking if you may have an opinion of DATCU or other CUs in Txas that may help me in choosing.
I've used great credit unions in other States I lived, but not since moving to Txs a few yrs ago.
Appreciate any info.

[MrsBrady]

47. this is our first time using a credit union...

and as I said, it's based in MD, but I'm sure some of the credit unions locally are just fine.

Just make sure when you talk to them that they are part of the companion system.
I couldn't bank with my CU if they weren't. I'n not going to drive to MD to deposit a check.

I'll be joining another, but its not texas based, either.

[MrsBrady]

49. this site can help you see where all the companion

CU's are

http://cuservicecenter.com/

[Blaze Diem]

102. Great Info MrsBrady..Worth a bookmark

Much appreciated

[billymayshere]

64. I need to find one too

A friend of mine recently suggested Texas Fed CU, he says there are plenty of branches. Thats what is most important to me.

[LeftyMom]

51. Most credit unions share ATMs. Some also share counter services.

http://www.co-opfs.org/public/locators/atmlocator/index.cfm

http://www.cuservicecenter.com/CreditUnions.aspx

[cui bono]

62. It should be easy, maybe even easier. The CUs work together to help that.

I can make deposits and withdrawals at many sister CUs all around the country with no problem at all.

Also, I live in L.A. and there every 7-11 has an atm I can use for free. (well except for this one on Melrose who has some rinky dink one.) The atms actually have a Citibank logo on them, don't know how they fit in, but CU withdrawals are free. I'm currently working in NYC and I looked up where the atms are and here most of them are in McDonald's... yuck. But they're free. Not all the atms will take deposits but some do. I'd rather go to a CU office though, it just feels wrong to make a deposit at a Mickey D's.

[bengalherder]

70. Our CU is in the cirrus system

as are many others across the US. At least while travelling on the west coast, we've had no problems accessing our money, even being able to once get a cashier's check for a large purchase at a companion CU on the other side of the state...

[catrose]

74. Credit Union Service Centers

My credit union is in Oklahoma; I live in Texas. My son's is in Massachusetts, but he worked in FL, KY, CO, and UT. No problems anywhere. CU service centers are independent, but they do transactions for each other.

[sce56]

78. The CO-OP Network is surcharge free for members I never pay a fee when usingb hem

And they will tell you via the net where the nearest one is.
http://www.co-opfs.org/public/locators/ATMlocator/index.cfm

CO-OP NETWORK ATMs
Welcome to the CO-OP, the largest credit union-only ATM Network in the country.  As a member of a CO-OP Network credit union, your ATM card provides you with surcharge-free access to 28,000 ATMs nationwide. This includes 9,000 deposit-taking ATMs and 5,500 7-Eleven locations (throughout the U.S. & Canada).  

In addition if your ATM card carries the corresponding logos, it can be used at more than 800,000 ATMs worldwide through links to the NYCE, STAR, Cirrus, Pulse and Plus networks. Please remember, only CO-OP Network ATMs guarantee you surcharge-free access to your money. Use the locator below to find one today!


You are not just a customer of a Credit Union but a member and are egible to participate in board meetings etc.

[MedicalAdmin]

80. Here is what I did when I was on the road.

I set up a direct deposit with my CU and then transferred the money using an ING direct account right into their credit card account.

And then I use the credit card for my expenses. I guess it depends how much you need quick cash. When I was on the road I was at least 1 or 2 months ahead of expenses and always managed to get my money deposited using ING as the middle conduit. I still use them in conjunction with my personal account with a CU and our business accounts with a local community bank.

Good luck. I'm sure if you look at your needs and timelines that you will find a solution that fits your needs.

[me b zola]

104. Before their were ATMs, debit cards, and everyday use of credit cards

...people were able to function :) I used to use travelers checks when I went out of town.

[Cid_B]

59. I'll keep my USAA thank you very much...

[Liberal_in_LA]

3. kick

[Me.]

4. Why Not Also Endorse Community Banks?

[Matariki]

8. One problem is how they get bought out by bigger banks

[Desertrose]

10. My CU moved out of town- am with a small bank....

if it gets bought out...guess I'll have to re-think the drive to the old CU.

[glinda]

13. It is 35 miles to ours.

[Matariki]

22. Most Credit Unions are part of a nationwide network

and that network has ATMs in 7-11s. You could conceivable do most/all your banking online and at your nearest 7-11

My CU refunds all 'foreign' ATM charges, so I can use any bank's ATM and it costs nothing. It might be worth that 35 mile drive to see what your nearest CU has to offer - it may be more convenient than you realize

[FarCenter]

30. Local credit unions belong to "corporate credit unions" which belong to US Central

For industry structure see http://corporatenetwork.org/default.asp?content=cn_corpglance "The Corporate Credit Union Network".

Note that one of the services that the CCUs provide to the CUs is "investments", which means that a rapid influx of deposits probably goes up to that level and into fixed income securities of various types, depending on the investment policies of the CCU.

The CCUs also do the processing of share drafts (what would otherwise be known as checks), although some may outsource this to third parties, including banks. Electronic bill pay, on-line services, etc. are also likely run by the CCU on behalf of the CU.

[glinda]

53. 7-11 is 200 miles from here. We are with a CU. Just changed.

[FarCenter]

12. The FDIC sponsors the mergers when they fail

FDIC Failed Bank List

http://www.fdic.gov/bank/individual/failed/banklist.html

[FarCenter]

9. Be careful, some are involved with bad commercial real estate loans

There was a trend for the local fat cat bankers to give loans to their local fat cat real estate developer and construction company friends golfing buddies. Some of these haven't turned out so well. Unfortunately the FDIC isn't very transparent about publicizing which small banks are shaky.

[Selatius]

56. Any bank is established for the sole purpose of profit ahead of the depositors.

Including community banks. A credit union is an organization where shareholders are eliminated from the equation. The only owners of the organization are the depositors themselves.

[The Velveteen Ocelot]

5. My credit union's home page features information about

its free checking, as well as how to switch your account from your old financial institution.

I think they are paying attention.

[Blue_In_AK]

14. I love my credit union.

I've been a member for over 30 years.

What I'd like to know, though, is how I can get my mortgage back from Citi Mortgage. I originally financed through the credit union, but along the line since 1990, it's been sold two or three times. I've had no personal problem with Citi, but I just hate giving them my money.

[Fire Walk With Me]

15. Posted on Facebook. K&R!

[ProdigalJunkMail]

16. yay...a bona fide run on banks...

that shouldn't cause any problems... n/t

[Missy Vixen]

25. Surely there aren't that many people involved!

After all, the corporate media's been ignoring OWS; it's only a few thousand accounts.

:sarcasm:
:eyes:

[sce56]

85. CNN has it with link from home page...

Wall Street Protests Get Specific: Could ‘Bank Transfer Day’ Pit Americans Against Their Big Banks?




Participants of the Occupy Wall Street protest movement join union members in solidarity and march up Broadway in New York City.

The growing anger directed at U.S. banks (especially the big ones that took federal bailout funds) over recent fee increases coalesced this weekend into a Facebook-driven campaign urging Americans to close their accounts at large banks and move their money to credit unions by Nov. 5.

Though not initiated by the Occupy Wall Street movement in New York and other cities around the country, the effort has been embraced by the protesters, and their “We are the 99%” mantra is all over the “Bank Transfer Day” Facebook page — making this the first specific action by a political movement that has been criticized as unfocused and incoherent.

Bank Transfer Day was started by a 27-year-old Los Angeles art-gallery owner, Kristen Christian. She says she’s not affiliated with the Occupy Wall Street protesters but that many organizers of those demonstrations had reached out to her to express support.

[piratefish08]

46. run on banks? freedom of choice! the essence of Capitalism

you saying banks hate capitalism now?


no way they'd be afraid to compete with silly little credit unions!

[MedicalAdmin]

81. That hasn't been an issue since the FDIC was formed.

Where have you been? Checking out subterranean condos under rocks?

[FarCenter]

17. Any checking account at a big bank with less than $2500 in it is unprofitable

Per a banking analyst on Bloomberg Radio this morning.

Banks with > $10 billion were constrained in the fees for thing like overdrafts that they charge and by the more recent reduction in debit card interchange fees.

The reduction in merchant interchange fees on debit card transactions does not apply to small banks and credit unions, so they can still offer better deals to their customers.

[trof]

18. Will check on changing my mortgage from Wachovia.

Already bank at a CU.

[ProdigalJunkMail]

19. moving your mortgage may not be a great idea

for a couple of reasons.

1) Most CU's don't have the best mortgage rates. It's not like I have a table or anything to show that, but recent experience suggests that you shop around a good bit before taking that leap.
2) Many CU's don't hold their mortgage paper and will sell it off. You might end up somewhere as bad or worse after having paid closing fees...

Just be careful and don't make an emotional decision...

sP

[The Velveteen Ocelot]

27. 4.25 for a 30 year fixed rate mortgage at my CU.

That was the highest rate they had. I don't know how that compares to regular bank rates.

[ProdigalJunkMail]

38. i have seen under 4...

it is unreal right now..

sp

[trof]

35. Thanks. Yes, that's been my experience.

I checked with the CU last time we refied.
Couldn't match Wachovia.
Thought it would be worth checking again.
We have about 75-80% equity so refi is a no-brainer for lender.

[dixiegrrrrl]

40. If you have that much equity, a re-fi makes no sense.

You have paid down your mortgage interest to the point where almost all of your payment goes to principal,
yes?
Getting another mortgage would mean starting at high interest/low principal payments, yes?

I read recently that, for the most part, anyone with 5 years into a mortgage is ahead of the fame as far as applying payments to principal versus new mortgages.

[trof]

41. It does if you have limited income and

need to cut monthly payments.
I'll never pay off this mortgage, that's a given.
So I just keep getting the monthly down as far as possible.
I do it with no closing cost or points.
I've done at least 3 or 4 times since we bought the place.

Original price was $225,000 back in '93.
At one time it would bring around $900,000.
Wish I'd sold it then.
Now? Maybe around $600,000.
$550,000 for a quick sale.
Wanna buy it?
;-)

[Dawgs]

82. BS. We refinanced with my CU and the rate was lowest anywhere.

Everyone should be careful, but scaring people without facts is not what we do here.

[ProdigalJunkMail]

95. how the fuck am I scaring anyone?

all I really said is be careful and shop around. based on my experience CU's don't always have the best rates. my CU is off by almost half a point...looks like some other people agree with me.

sP

[MedicalAdmin]

87. My CU doesn't sell mortgages.

And the local banks and brokers all do.


Good advice to shop around. One of the questions I have learned to ask is whether or not they sell the mortgages. I learned the hard way. My current holder is Chase, god help me.

[nichomachus]

36. Chances are they don't hold your mortgage

You may have taken it out with them, and they may still service it, i.e. collect the money, but there's a 99.999 percent chance they sold it before your signature was dry on the mortgage note.

[DaveJ]

20. ATMs?

There's corporate ATMs all over the place. I assume I'd need to sacrifice this convenience for a CU?

[truedelphi]

33. Why ever use an ATM?

Convenience stores are open 24/7, and you can buy some gum or a newspaper and get some money at the same time. All without worrying about whether the store ATM will accept your bank or not.

[DaveJ]

37. Understood, but ATMs still come in handy

They come in handy when getting larger amounts of cash and making deposits. In fact, BofA annoys me just because they do not have the check scanning Android app that Chase has. I really doubt a CU would have that either.

Mainly, though, I care about the merchants. I often prefer to pay in cash, so that merchants do not have to pay a bank charge when I swipe the card.

I really am not onboard the CU thing for a few reasons.

1) A grudge -- our local CU denied my wife a reasonable mortgage rate (for an affordable home). She had to go to a big bank, or else we would not have a home now at a reasonable rate, if it were up to the CU.
2) People at small businesses are no friendlier to me than people who work at big businesses. I do not think anyone at a CU would care if I left them either.
3) When something is broken it needs to be fixed, not destroyed.
4) ATMs are nice to have.

[stevedeshazer]

39. There must not be any credit union ATMs in Chicago?

I live in Portland and they are all over the place. I'm a truck driver, so I can say they are fairly common even in smaller towns in the Pacific Northwest.

30+ year member here. Never had a problem, never needed a bank.

I use a CU debit card for all my over-the-counter purchases. No fees.

[truedelphi]

94. I hear what you are saying.

My personal solution to banks has been the Check cashing/Payday people. I am much happier getting a three percent "ding" when cashing a large check, than having to open a bank account, pay $ 22 for a box of checks, and then suddenly finding out that the bank deliberately stalls on cashing checks, that should be processed the moment they get them. The one moment in a month when my balance tips under, WHOOSH, all the checks are cashed, and I am left with NSF's.

For smaller checks, my local grocery cashes the checks given by any local business. Up to $ 500.

Spouse's business means I have a debit/credit card. And like you say, the CU people are not necessarily any friendlier than the people employed by Big Banks. And his CU still charges something like $ 33 for a bounced check. Which is criminal - if banks could process bounced checks for three bucks back in the early nineties, why does it cost them $ 33 now?

68% of Americans never bounce a check. And then another 20% of all Americans bounce only one or two checks a year. But the largest part of the 38 Billions in profits that the banks from NSF checks make is on the poorest people. When I was in that group, and my employer would "forget" it was payday, I really suffered.

[jeff47]

97. A few responses

1) CUs generally don't sell their mortgages. This actually makes it harder to get a mortgage from a CU. They hold it, so they get burned if you can't pay. Big banks just bundle & sell the mortgage, so their lending standards are far lower. While this hurt your specific situation, it's better for the system overall if the bank or CU holds the mortgage. That would also help keep home prices lower, which would have made that home you purchased more affordable.

2) My CU has a receptionist. She warmly greets everyone who walks in the door. The tellers are happy and cheerful. Management at the CU branch is also extremely helpful and seems pleased to have my business. In fact, the branch manager was walking by when I needed a transaction, and the tellers happened to be busy. So the manager processed my transaction at her desk...and I'm just some guy with a 9-5, not a large businessman. My sense when I banked with BofA was that the tellers were harried and overworked, and the branch management desperately wanted to spit on me.

3) CUs fix the problem. It's reverting the system back a few decades to when "too-big-to-fail" banks had not formed yet.

4) CUs have ATMs. CUs participate in the major ATM networks (like BofA, Wells Fargo, etc). CUs also have 'partner' CUs which will let you use their ATMs for free.

[AllyCat]

61. It's the card fees and the fact that VISA or MC or whoever gets a cut of the sale

just because I use the card. I'm trying to use checks where they take them and cash everywhere else. I'm tired of feeding the beast and it makes me nuts that small retailers have to lose out on desperately needed profits because some slimy credit company wants their cut of the sale (and they do no work to get it).

[truedelphi]

93. A lot of small companies where I live are opting out of credit cards.

Granted, this is a rural community, and this might not work in a big city.

But like one store owner told me, "It's costing me over $ 500 a year to use the credit cards, and when I looked back at my records, only two checks, both under $ 40, had bounced in a three year period. So I was annually paying $ 500, a small fortune, to avoid what is a minor hassle for me."

[AllyCat]

103. Most businesses on State St. in Madison no longer accept credit cards

There are little ATMs all over the place and everyone pays cash. Many would take checks. One business owner in my town said he has been in business just short of 20 years and had ONE bounced check ever. The woman was so mortified she drove about 30 miles back to pay the bill the next day.

[Honeycombe8]

89. How do you get $ at a convenience store. You mean write a check? nt

[truedelphi]

92. You use the debit function of your ATM card to buy something, and

Then opt for the "cash back" option.

I rarely use ATM's on account of the fact that my CU is only in two places in my County, and the other Banks' ATM charge me between $ 1.50 and $ 3. If you use the store "cash back" option, you aren't usually charged anything. (One gas stattion charges 69 cents, but that is a lot better than $ 3.)

[Honeycombe8]

100. It's a big No-No to use debit cards @ merchants. My Ck acct was hijacked...

that way.

Merchants' databases can apparently be hacked more easily than banks. When you use your debit card at a merchant, your PIN # goes into their database. My bank said the people who stole money out of my account from across the country using a fake debit card may have gotten my PIN # that way, since I occasionally used it at merchants.

If they take the credit card part of my checking account, I could do that.

But if you use a card at all, that means that credit unions have ATM cards? The question I'm responding to asked what to do INSTEAD of using an ATM card.

[Pacifist Patriot]

68. Depends upon where you are. I am with a credit union that...

has more convenient ATMs in my area than the banks do.

[Festivito]

73. My CU allows ATM use at all CUs -- meaning cost-free use of course.

Ask them.

[catrose]

76. No problem

Credit unions have ATMs, and you can use other institutions' ATMs. Many CUs refund ATM fees.

[jeff47]

96. The CU's ATM card is on the same networks as the big banks

So if you absolutely, positively need cash NOW and the only ATM is a BofA ATM, it will work.

Besides that, most CUs have partnership agreements with other CUs outside their area. You can use partner CU's ATM (and counter service) for free.

[abelenkpe]

99. No

You can get cash back from any store if you use your credit or debit card from a credit union, also many credit unions have deals that allow you to use other ATMs just as big banks do.
I never do that though. I take out a small amount at the beginning of every week and stay within a budget. When my kids ask for something I can literally say: "We have this amount, what can we get with that knowing we wont have any more until Saturday?" When coworkers ask me to go to lunch I can say: "I brought my lunch and don't have enough money." Keeps me in better shape health wise and economically.

[gratuitous]

21. I closed my Bank of America account; they didn't notice or care

I closed my Washington Mutual account; they didn't notice or care.

One small depositer doesn't matter a flea's fart in a hurricane.

But 100 small depositers? A thousand? Ten thousand? Oh yeah, that's gonna get noticed. Individually, we're not very much; practically speaking, we're nothing. But together, consumers rule the economic world, which is why the monied fatcats spend so much time and energy atomizing us, keeping us separated, and seeking to preoccupy us with our own individual interests to the total exclusion of all other considerations.

[MountainLaurel]

23. I was 5 months early

We switched to a credit union in May.

[Divine Discontent]

24. that is great! They will lose billions on that day!

get it here - http://www.zazzle.com/the_party_of_no_has_to_go_gop_republicans_obstruct_bumper_sticker-128224072221438203?rf=238107662556833486

[Blaze Diem]

29. I will also move from Wells F to CUnion on Nov 5. Have been thinking about this for 3 months...

I've been so disgusted with Wells,BoA & others that my local CUnion became the only safe place to bank anymore.
With an official date of Nov 5th, I will proudly do this as my small part, but a part non-the-less, in support of those who stand hourly & daily in protest of a system gone amok.
I'll be requesting a change in my current direct deposits tomorrow and open a Credit Union acct.
And Proudly, on Nov 5th, I will transfer ALL Wells funds.

Solidarity is Strength and by this small action, this America already feels just a teeny tiny bit like the great country I used to know.

Oh yes, with my Credit Union acct in place,on Nov 5th 2011, the very first swipe of my Cr Union Debit Card will be a $500 donation to the OWStreetors to carry on this great mission to restore America to its rightful owners.

Such a serious time in this Nation. Without their bravery and fortitude there would come a point of no return, no salvation for our America.
This has to happen now and we all know it.

I too am from the 60's anti-establishment movement.
I truely weep when I see the OWS crowds growing, read their signs, & take great pride in everyone of them. They are the true Americans.
Bless them & give them strength as they battle for the 99% who's lives have been demeaned by personal & global corporate greed.

Thanks, Blaze

[Kaleko]

31. Thank YOU, Blaze, for a lovely post.

Solidarity! :grouphug:

[Fire Walk With Me]

50. Woohoo! For several reasons!

:hug:

[Blaze Diem]

101. Fire..just viewed Buchla & Associates. Wow how time flies!

Enjoyed the History
A very good day to you.

[L0oniX]

42. Just moved to a CU and I'm glad I did ...got a 8.9% CC too. n/t

[MadHound]

43. I'll keep my accounts at my local community bank

It is independent, and has treated me well for thirty eight years now.

[jimlup]

44. This is something I've been working on for awhile. I'll be there by Nov 5 for sure /nt

No debt to the big banks and not a penny in their cash registers!

[mistertrickster]

45. And since Capitalism, the perfect system, means people are free to bank

where ever they want to, the Banks must think this is a great idea, right?

Uh, no.

Our corporate masters love capitalism when it serves to enrich them. Otherwise, not so much, despite their ideological purity.

[WillyT]

48. K & R !!!

:kick:

[lonestarnot]

52. Good!

[leftyohiolib]

55. to find a credit union

http://www.findacreditunion.com/

[hobbit709]

57. If I still had money in a bank I would.

But all my money has been in a credit union for years including my 401K.

[City Lights]

58. We closed our Chase account last summer.

We have accounts with two credit unions.

[AllyCat]

60. Wish I could get my family to do this. I've been with CU for decades

but really would like to get our mortgage switched to a CU. It was sold to one of the four big ickies.

[uponit7771]

63. THIS WOULD BE HUGE! Marking the date, spread it around

[SoapBox]

65. K & R

...I've belonged to my CU for over 25 years.

No fees!

Love it!

[Magoo48]

66. Must talk to my wife...she won't let me near the money...

[L0oniX]

67. Just opened a CU account ...closing my bank account on Nov 5.

[alfredo]

69. I'm a long time Postal Credit Union member. Love it.

[catrose]

77. Me too, since the 80s

Mine's in Tulsa.

[alfredo]

79. My wife's father was a mail man. Later I got a job at the PCU

Even though I later became a mail carrier, her name is on the account.

[Raster]

71. I will close out my long-standing account with Wells Fargo on that day...

...and transfer into a newly-opened credit union.

[NeedleCast]

72. I will close the last association I have with Bank of America on Nov 5th

My fiance and I moved most of our money to USAA awhile back but I've kept a BoA account open with a little bit of money in it as my "fun" money outside our joint account. I will move that account over to USAA and cut my last tie with BoA.

[sce56]

75. Proud to K&R +100 votes (Your vote: +1)I would join that but I have been an FCU only user since 1984

[2Design]

83. I get interest on my ckng acct at CU for using debit card 12 times a month

[Arugula Latte]

88. Really? That's great.

Banks are trying to dink people for using debit cards.

[louis-t]

84. Hopefully, the "free market" will bite the banksters in the ass.

Look for a big pushback from them in the form of making it harder to transfer money, or a 'fee' for taking your money away from them. I just paid a $10 fee to AT&T to cancel my long distance service. Grrrr.

[Obamanaut]

90. I've been happily using a CU since the 1970's nt

[MorningGlow]

91. Looking forward to leaving HSBC

Mr. MG is taking a new job in a few weeks--perfect timing to set up a direct deposit checking account with one of our local credit unions and ditch HSBC once and for all. Also hoping to score a debt consolidation loan to get rid of our credit card balance (Bank of America :puke:).

[tcaudilllg]

98. Nothing against credit unions, but I'm satisfied with my local bank. :)