Goodbye Bank of America Hello Credit Union!

[sandyj999]

Today I made the decision to no longer "help" B of A. I am angered about the bailout and even more angered about the bonuses being given and in my small way I am fighting back. I have a decent amount in checking and savings and if they ask me why I am leaving they will be told. If enough people did this it might get their attention.

[medeak]

1. hope it's a federal credit union

my Mom's teacher credit union is not and having financial problems and so is the private insurer.

[sandyj999]

8. It is a federally insured credit union. Insured to $250.000.00

Which of course am a long way from having.

[gleaner]

2. Go You!

I bailed on Chase and went to a credit union and I am very pleased with them. Not only will you make a statement to the banks you will be well treated, your business will be valued, you will have more say in how your money is handled, and you will not be subject to arbitrary and unfair credit and banking practices you would find in the big chain banks.

Telling them why you are leaving is the best part. Chase is feeling it. I had closed out three accounts there after they ate up WAMU, the bank I had chosen. They never asked why. On the very last account I had they did ask why. I said, "I don't like big banking chains." Silence and a grunt. "I particularly don't like Chase." Response, "That's too bad." I finished with, "And I'm a Democrat. I think Chase is immoral. Please be sure to pass it on." Heavy breathing on the other end and a decisive click as they hung up.:evilgrin:

[Faygo Kid]

3. I'm still a member of MSU Federal Credit Union, although I live on the East Coast.

Good folks, the right thing to do. Congratulations!

[rhett o rick]

4. I have belonged to a great credit union since 1968. But if everyone switches

you better believe that the bankster bastards will call for legislation to screw the credit unions.

[ChimpersMcSmirkers]

6. They're already doing it. I belong to a credit union in VA and just got this.

Dear Member,

Legislation is advancing in the Virginia General Assembly that would make it easier for banks to acquire credit unions. Your credit union management strongly opposes this legislation because it does not adequately protect the rights of credit union members.

It does not address such basic issues as voting procedures for credit union members in these cases.
It fails to recognize the vast differences between not-for-profit credit unions and for-profit banks, which have different structures, missions and legal requirements.

Lawmakers must give these issues careful study and not rush to enact such sweeping legislation.
Please contact your Delegate and State Senator to let them know that you oppose House Bill 482 and Senate Bill 440 as introduced. They need to know how important your credit union is to you. You may use the Virginia General Assembly website, http://conview.state.va.us/whosmy.nsf/main?openform for contact information and to send a message to your Delegate and State Senator. If you like, you can use the sample message below.

SUBJECT: Please Oppose H.B. 482 /S.B. 440

Dear General Assembly Member,

I'm counting on you as my representative to protect my rights as a credit union member. Please vote NO on H.B.482 /S.B.440.

Sincerely,
Your Name
Your Contact Information

[rhett o rick]

14. I knew it was coming. They have unlimited powers. nt

[joeglow3]

16. Thats great

It is not like the can acquire without offering a premium for it. As an owner, you would get a nice cut in that. Then, I would leave and join another credit union.

[Blue_Tires]

21. McDonnell at it already??

[Sebastian Doyle]

5. Good move

Bank of America made my life a living hell well into my 30's for something stupid I did when I was 19. I never signed up with them, just got merged into it. Thank God I got out of Washington Mutual before Chase swallowed them up, because they would have been even worse.

Strictly credit union for me. Never looked back.

[AnneD]

7. I have been begging hubby to leave Wells Fargo for over 8 years.....

now that he does not make over time, he has been watching his money and he couldn't understand why he kept having less than expected money. When he really looked, they were taking out for checking and money to manage an IRA that he no longer had there. It was over $300 a year. Boy was he kicking himself in the pants. Needless to say he is starting the process to change to our friendly Credit Union.

I am so happy!

[MadMaddie]

9. What took you so long?

I did it a couple of years ago...felt great!

[sandyj999]

10. It does feel great! I just didn't want to lose the "Keep the Change" gimmick.

And that is a joke.

[MadMaddie]

11. Ha..ha..

[Stevepol]

12. I've been very well pleased with my credit union.

I too dropped out of B of A. A credit union, mine anyway, is small enough you can talk to the people there and feel that they are real people. It's also not as high-pressure as a strictly for-profit bank. I've had to resolve several issues at my credit union and they have been I'd say 100% better at handling everything in a professional and consumer oriented way.

[depakid]

13. But, but... the administration says it's a "bad idea"

I suspect you will find like many of us have that you'll receive far better service and enjoy much more honest dealings having done so.

[GinaMaria]

22. Love my credit union!

I couldn't agree with you more. Left the big banks over a decade ago.

[David Zephyr]

15. I'm with both a credit union, a small bank and the big banks.

There are some advantages of staying with big banks. If it is your only account, you need to really weigh your decision.

For example, I made an overdraft with several checks because I thought an international wire had already been deposited in my bank. What I learned was that my Credit Union would not process my check more than once (try to run it through a second time to see if it would clear) while the bigger banks who I have credit cards with re-deposited the checks. The result: I got an NSF with the Credit Union because they wouldn't redeposit the check ("our policy is we deposit it only once") and no NSF's with the bigger banks.

They also don't have ATM's all over the planet either.

So, I hear you about the big banks and I agree with you, just be careful you read the fine print. I got a small credit report zing because of this silly policy of my credit union and I'm still angry.

[NavyMom]

18. Sorry to hear, today my last link to ANY big bank was closed...signed refinancing of mortgage

with Credit Union this morning and six months ago transferred auto loan balance. I setup these two payments automatically with the CU (they even let me name the date) from my account and they agreed in WRITING to refund any NSF fees if they take these payments before any deposits are credited. My mortgage is set for the 18th (deposit dates 1 & 15th) auto loan 3rd of each month just to ensure no NSF fees but I feel better knowing if a mistake made there is some leeway and by using the credit union I am saving $318 per month between both, so I'm happy.

[David Zephyr]

19. Congrats on your savings!

$318 a month is a real savings, nearly $4K a year!

[Lugnut]

17. You won't regret it.

I did that several years ago and it was a good move for me.

[sandyj999]

20. Once I get the changeover finished it will be great. And I appreciate the encouragement.

[salguine]

23. Anybody here been a customer of Apple Bank in NYC?

[Mudoria]

24. Checking and IRA at Wachovia... Savings account and mortgage at a CU

To be honest I don't see much difference. Get the same friendly service at either one I go to.

[8 track mind]

25. You will not reget it!

We made the switch from Chase to a local credit union, couldn't be happier!!!!

[mstinamotorcity]

26. Now that a lot of people

are joining credit unions don't forget to take the added advantages of being a member.You can get slightly used vehicles from their repossession lots,good mortgages while prices are low in the housing market,and most credit unions offer cash benefits for referrals of family members and friends.Which is a great way to hook each other up with a couple extra dollars.And yes banks are getting mad and will be trying to find a way to get in on the action.But the best way to show your anger at banks is not to allow them your consumer power.Take it back if you have given it away and join a credit union or small community bank that will appreciate your business.

[Armstead]

27. Good on You. Whewre I live the Credit Union is the largest financial institution in the region

I switched to a credit union about ten years ago, after my bank started charging when my checking account got below a certain point. I figured a fee for being broke was unfair.

Was a great move. We have a credit union that is the largest financial institution around, and you would never know it's not a commercial bank on the surface, with all of the services you can get at any bank. But they are a credit union and great to work with. After the death of my mother, they were great at providing some financing for her house and other things that would have been a lot more difficult at a commercial bank.

Plus the philosophical fact the I own the thing is very satisfying...Well, I don't really own it, but along with the otehr members, WE own it, not some shadowy cartel.

[Blue_In_AK]

28. You won't regret this move

if your experience turns out to be anything like mine. Credit unions rock.

[sandyj999]

29. Made my first deposit today.

Took $2000.00 from B of A and delivered it to the CU. I am just transitioning slowly but it sure felt good!:rofl:

[Dawgs]

30. Moving all of our money from Wachovia to our CU next week.

:hi:

[sandyj999]

31. Great! We need to try to take back some power.

[avaistheone1]

32. Good bye Citibank, hello home-town bank.

I just transfered two of my mortgages to my small hometown bank which is locally owned.

I even received a better interest rate and terms than the big bank I used to deal with.

:kick:

[sandyj999]

33. Wonderful! n/t

[Name removed]

34. Deleted message

Message removed by moderator. Click here to review the message board rules.

[midnight armadillo]

35. How is TD Bank compared with BoA?

TDBankNorth or whatever they call it is majority-owned by a Canadian bank, Toronto Dominion. Dunno how they compare to BoA or those other bastards.

My best local option is probably Middlesex Bank, which is a MA mutual bank, in terms of sane banking practices and convenience.

I have so much online bill-pay stuff set up though...it would be such a PITA to convert.

[harun]

36. BoA is worst bank I've ever had, TD Bank the best.

At lest the bank I had was the best before TD Bank bought them. They haven't screwed me yet.

[Bullet1987]

37. I'm still a member of State Employees Credit Union in NC!!!

SECU is the best!!