Which do you prefer for everyday checking and savings accounts? Currently with a corporate bank but thinking about moving some monies to a local credit union that is offering $200 to open a new account.
Which do you prefer for everyday checking and savings accounts? Currently with a corporate bank but thinking about moving some monies to a local credit union that is offering $200 to open a new account.
I have belonged to a credit union since the 1990's. When I joined way back when, there was a branch in the building where I worked. Have left that job long ago and then moving, I still use the credit union, but also have a basic checking account at a local bank. This is mainly for things like depositing checks or getting quick cash with no fees.
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Be nice whenever possible. It's always possible. HH Dalai Lama
In a world where you can be anything - be kind. Unknown
Some banks excel. Some credit unions excel. In any particular locality one can assess the competition and bank with the institution where one's own needs will be served most efficiently.
I am impressed with the visionary service of the Assiniboine Credit Union in Winnipeg, Manitoba, Canada. (If I lived there, no doubt they would have my business.)
Where I do live, the local credit union is ho-hum, not highly competitive on services, fees, or interest rates. The credit union has schmaltz about community, but I see the same schmaltz at the one FDIC bank with a branch in this small town, where there are plates of home-baked chocolate chip cookies to be had in the lobby. The local community bank and the credit union both publicize their donations to worthy local causes. While those donations are laudable, I entrust most of my business to a well-managed regional bank. In 2006 this bank's continuous improvement program was called "Five Star Service Guaranteed". Mergers and name changes notwithstanding, I have been a customer of the same bank for more than 20 years. I hope the bank appreciates that relationship... I know I do.
checking with a big bank, but won't do enough that I am questioning that decision. Quarters rationed to the hilt now - only one roll (other banks don't ration them so hard). Won't cash government bonds just direct me to a government website (many big banks do) etc. It's like why am I even with big bank if they don't do anything.
Savings I tend to do online savings accounts as otherwise there is no interest to be found anywhere (and barely there either).
Trees don't grow on money
This particular credit union is regional and has a stellar reputation; their rates look competitive. It is mostly the no strings $200 I'd like
We have been members of two credit unions since the mid 70s. In fact, we held the first mortgage one of them ever issued. Have always gotten stellar personal service. The Trust Dept. assisted us with setting up a complex beneficiary IRA and answering all our questions. The locations are convenient and if the customer rep. does not know the answer, they get it right away.
Our business, banks with a small local bank, that is ran by a man who is supposed to be the basis of Milton Drisdale's character, according to Henning's family. We've done business with them long enough, that prior to the other owner passing, I had heard mention that he only had a couple more years until he retires/sells the bank. I could see us moving to a regional bank that we have known the owners of for longer then I have been working. If not, there is another bank that a former employee, is married to one of the vice presidents of.
On the other hand, personally, I started out with S&L's, years back (as a kid), where it would take me a REALLY LONG TIME to meet the minimum's of banks, to not be fee'd to death. (they would basically nickel and dime me into nothing) When they went away, it was mattress for a while.
Close to the time I graduated, I had extended family, on both sides, that belonged to a local teachers credit union. I technically wasn't close enough family to be a member, however besides them, there were other members that pushed for me to be allowed. That credit union eventually became the regional (non teacher) one I use now.
If I didn't use them, I would have probably gone with either a small local one I had heard some good things about, or Community America, since I was friends with the former president and a couple degree's separated from the current one.
Relative that worked for the Drisdale dude, works for Mazzuma, but that was more of a drive then where I lived.
I generally prefer a credit union for personal use, I don't know how well they work for business use.
If you have transactions involving foreign funds you need a bank.
People still use checks? And bank tellers? It’s been at least a year since I have paid anyone with a check and a decade since I set foot in a financial institution.
I don’t understand how people function without checks.Originally Posted by jp1
I just recently sent $1,000 to someone, family friend. I do not have Venmo. How would you convey money like that?
I am treasurer for a small organization and we pay instructor fees and building fees.How do you pay people in that situation?
I prefer to send charitable donations via check for some organizations because the Facebook or G Fund Me interface takes a measurable cut. How do you get around that?
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