AN EASY WAY YOU CAN HELP THE ECONOMY TODAY INSTEAD OF JUST BITCHING

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AN EASY WAY YOU CAN HELP THE ECONOMY TODAY INSTEAD OF JUST BITCHING

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Started 1 year ago by Hoodie
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Hoodie

senior member
Joined: Jan '11
Posts: 2,510
If you bank at a large institution, move your money to a local credit union.
Would you rather see your money go to group A or group B?
A)
- Loans to local families in your neighborhood
- Loans for business expansion in your community
B)
- Credit default swaps
- Obscene CEO salaries and bonuses
- New factories and jobs in China
If you voted for A, run, don't walk, down to your mega bank, close your accounts and move to keep your money at a local credit union.
Here are two great resources for finding small institutions in your area:
http://www.creditunionsonline.com/
http://www.thecommunitybanker.com/cu_links/
Posted 1 year ago #
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Hoodie

senior member
Joined: Jan '11
Posts: 2,510

Aw, c'mon. At least lie to me and say you already bank locally.

Posted 1 year ago #
Obot 50549535

senior member
Joined: Jan '11
Posts: 5,234

hoodie -- I already bank locally.

You can decide if I'm lying.

Posted 1 year ago #
Hoodie

senior member
Joined: Jan '11
Posts: 2,510

YAY!!!!

Posted 1 year ago #
Hoodie

senior member
Joined: Jan '11
Posts: 2,510

One of our bigger concerns in switching to a credit union was ATM access and ATM fees. Turns out they have banded together, and we have free ATM access coast to coast. Just FYI.

Obot, thanks for posting, and I believe you.

Posted 1 year ago #
Obot 50549535

senior member
Joined: Jan '11
Posts: 5,234

I think credit unions are great. For those who haven't tried them, let me mention one thing about them that might, at first glance, seem like a pain in the butt, but in practice isn't. Credit unions are required by law to only do business with some defined subset of humanity -- for one you might have to work for the X Company, for another you might have to live in the City of Y, for another who knows what, but each one has to have a criterion that limits who can bank there. So for starters, you need to find one that you fit their criterion. But don't worry about what happens if you change jobs or move or whatever -- once you're in, you're in.

Posted 1 year ago #
Beach Baby

senior member
Joined: Dec '10
Posts: 8,595

Unfortunately there is not a local bank in my community any longer Hoodie - all of the community banks failed during the economic crisis and no new ones have come in to take their place.

I do bank at a relatively small regional bank if that helps. :-)

Posted 1 year ago #
Hoodie

senior member
Joined: Jan '11
Posts: 2,510

BB, I know it isn't easy, but....

http://www.royalpalmbank.com/ (690 Bald Eagle Drive)

:-)

Posted 1 year ago #
Beach Baby

senior member
Joined: Dec '10
Posts: 8,595

Sorry Hoodie - Royal Palm (which is actually part of Mercantile Bank - big company) bought out our community bank and did really poorly by a lot of the local businesses - closed out a lot of their business loans and left them with no cash flow. So, no way for them.

I use Iberia Bank (based in Louisiana) - who bought out Orion Bank (a former local bank South Florida bank) Orion screwed over not only their customers toward the end, but their employees as well. The owner of Orion stole all of the employees retirement funds, and believe me you know everyone who worked for them if you live in a small community. Most of them lost their jobs - and they are all still waiting to see if legal means can ever get them any of their retirement funds back.

Posted 1 year ago #
Hoodie

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Joined: Jan '11
Posts: 2,510

Why does that sound like SWFL SOP? LOL!!!! You know better than I - thnks for showing your awareness! When I was in Lee County, I used Riverside Bank. Con:The do not actually have their own ABA#, so wires take an extra two days through a middleman bank. Pro:They once opened for me on a Sunday morning (NFM branch)!

Posted 1 year ago #
Beach Baby

senior member
Joined: Dec '10
Posts: 8,595

I like banks with good service - and who are willing to bend the rules for their customers. They are few and far between these days. Hopefully we will get back to that soon.

Posted 1 year ago #
Hoodie

senior member
Joined: Jan '11
Posts: 2,510

Boy, I hope so too! Not holding my breath though- I think most Americans now accept abysmal service, excusing it as part of paying the lowest price. On the upside, that low low standard makes it easy to stand out in what we do.

Posted 1 year ago #
rikker

senior member
Joined: Jan '11
Posts: 7,093

The "low low" trend really sucks, Hoodie. I am on a conference call with a frustrated customer right now, trying to guide him thru to a competent answer. Why? Because I HATE bad service and I like taking ownership.

Posted 1 year ago #
Hoodie

senior member
Joined: Jan '11
Posts: 2,510

BUMP!

Posted 1 year ago #

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AN EASY WAY YOU CAN HELP THE ECONOMY TODAY INSTEAD OF JUST BITCHING

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