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Will you now choose a Credit Union/Comm. Bank? |
Way ahead of you, I already bank at one |
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55% |
[ 5 ] |
Yes, I've been thinking about it, but now I will commit |
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0% |
[ 0 ] |
Yes, now that you mention it |
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0% |
[ 0 ] |
No |
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44% |
[ 4 ] |
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Total Votes : 9 |
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Kuros
Joined: 27 Apr 2004
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Posted: Thu Nov 01, 2012 1:36 pm Post subject: Top 5 Reasons to Choose a Credit Union or Community Bank |
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Top 5 Reasons to Choose a Credit Union or Community Bank
1. Get the Same Services at Lower Cost
2. Put Your Money to Work Growing Your Local Economy
3. Keep Decision-Making Local
4. Back Institutions that Share a Commitment to Your Community
5. Support Productive Investment, Not Gambling |
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Fox
Joined: 04 Mar 2009
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Posted: Thu Nov 01, 2012 3:36 pm Post subject: |
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State side, I've used my university's credit union for about ten years now, and I will continue to do so. Admittedly, though, what originally caused me to switch over back then was not some philosophic consideration of the matter, but the fact that I was mistreated by the corporate bank I was with at the time over a minor overdraw of my checking account, and my credit union was willing to provide me with a more reasonable level of support and service. I have never had a problem with them. |
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Unposter
Joined: 04 Jun 2006
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Posted: Thu Nov 01, 2012 5:54 pm Post subject: |
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Completely agree. And, I have been a proponent for a number of years now. |
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Blockhead confidence
Joined: 02 Apr 2008
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Posted: Fri Nov 02, 2012 3:56 am Post subject: |
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I'm Australian but it's probably not that different here.
2-5 are all nice but secondary considerations. I bet you didn't expect a single person to say that.
1 is questionable. ATMs are likely limited or have fees attached. Due to paranoia about monitoring, I try to use cash as much as possible. Credit cards are a back up.
I work in finance so I happen to know that payment processing times for credit unions are often slower than banks - 2 business days rather than 1.
What about security? I realise some banks have had a few problems in the US but are credit unions less likely to fail/be subject to bank runs? |
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bucheon bum
Joined: 16 Jan 2003
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Posted: Fri Nov 02, 2012 5:18 am Post subject: |
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While I understand the sentiment, I'm currently quite happy with my bank PNC. No ATM fees (both domestically and abroad) and when I have to use another bank's ATM, PNC reimburses me. In fact I haven't paid any fees since I opened an account around a year ago (I fled Bank of America).
It also looks like PNC's interest rates are on par with any credit union. Throw in the fact it didn't take bailout money and wasn't embroiled by the financial crisis, and you have yourself a solid bank IMO.
Now if I were to buy a house and take out a mortgage, I might be more interested in jumping over to a credit union. |
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Ya-ta Boy
Joined: 16 Jan 2003 Location: Established in 1994
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Posted: Fri Nov 02, 2012 5:33 am Post subject: |
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Interesting.
My niece works at a credit union and I am contemplating bailing out on Korea after 18 years. I have been wondering what to do with my savings from here. Should I go with a traditional bank, hand it all to my niece, or dig a hole in my mattress and stuff it full of Won?
Please keep posting advice. |
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Blockhead confidence
Joined: 02 Apr 2008
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Posted: Fri Nov 02, 2012 6:05 pm Post subject: |
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Ya-ta Boy wrote: |
I am contemplating bailing out on Korea after 18 years. |
What do you think of the 10 year rule for expats - i.e. that after 10 years you can never properly integrate back into your own society?
(Hopefully you heard of this rule at least 9 years ago) |
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Kuros
Joined: 27 Apr 2004
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Posted: Fri Nov 02, 2012 8:28 pm Post subject: |
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There's a sacrifice. The top commercial banks provide customer preferences to loyal customers and give them breaks on loans and credit. Again, the very top. Most banks will just take advantage of you. |
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