Credit Union - Which one?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@longtimelurker wrote:

Also, not every SSN request is going to generate an inquiry.   Sometimes banks etc need it to report interest paid or pull Chex, and those wont impact score.

If you sign up for overdraft ability, then usually there is a credit pull

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Correct and I'm fairly sure that SDFCU doesn't do a HP for basic membership so maybe that's what is confusing the OP

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Exactly, that is what is confusing me, will all CU pull credit on joining for a basic account, when you provide them with a SSN, or what is the deal?

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Not all do.  NASA FCU for example only does a SP. You just need to do research as there's no way to list every CU and whether they do or not.  Personally I wouldn't base a decision on joining a CU on whether they do a HP or not.  The effect of a HP is over dramatized and that little effect will go away as time passes.  Instead I would focus on the CU itself and whether it meets the needs of what you're looking for in a bank.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@longtimelurker wrote:

Also, not every SSN request is going to generate an inquiry.   Sometimes banks etc need it to report interest paid or pull Chex, and those wont impact score.

If you sign up for overdraft ability, then usually there is a credit pull

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Correct and I'm fairly sure that SDFCU doesn't do a HP for basic membership so maybe that's what is confusing the OP

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Exactly, that is what is confusing me, will all CU pull credit on joining for a basic account, when you provide them with a SSN, or what is the deal?

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Not all do.  NASA FCU for example only does a SP. You just need to do research as there's no way to list every CU and whether they do or not.  Personally I wouldn't base a decision on joining a CU on whether they do a HP or not.  The effect of a HP is over dramatized and that little effect will go away as time passes.  Instead I would focus on the CU itself and whether it meets the needs of what you're looking for in a bank.

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Any recommendations for any CU for my needs?

Thanks

[Anonymous]

Just about everything bank wise is supposed to require a SSN isn't it? Federal law on identity verification and such. 

[Anonymous]

What part of Chicago? Do you need access to branches or just ATMs. Also in chicago area here, and a member of a pile of credit unions are you thinking BIG Federal type CUs or small and local? I use alliant and Oak Trust predominantly for my banking operations, but I love love love Kane County Teachers and a couple other relatively small ones. I dont know many that are going to give you no fee withdrawls internationally, but alliant does rebate fees on ATMs so that may work. I dont think anybody is going to let ya bank without SSN anymore.

[Anonymous]

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@Anonymous wrote:

Any recommendations for any CU for my needs?

Thanks

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Honestly, I think you are overthinking the bank/CU angle.  And many of the benefits you claim for CUs aren't necessarily true.

Bank may be for-profit, but that doesn't stop them from offering better rates.  Two cars ago, the best deal I got was from my bank, not a CU (I am a member of three CUs for various reasons).  My bank was 1.5% better than any other bank or credit union I shopped.  My current car has a loan through a CU, primarily because I couldn't find anyone else to finance it (it is a 10 year old sportscar).

Also, I have no minimum balance required at my online banks, but I do at my credit unions.  It's a pittance ($5), but it's my "share" of the CU, and I can't get it back unless I close the whole account.

You also, generally, don't need to be a member of a CU to apply for a loan with that CU.  That's how I got the loan for my current car, and that became CU number 3.

When the time comes to get your auto loan, apply for preapproval at a number of banks and CUs, and see what will give you the best rate.  FICO lumps auto loan inquires together if they happen within 30 days, so don't worry about your score hit.  Once you find a good rate, then join that bank/CU and get the loan.

[Anonymous]

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@Anonymous wrote:

What part of Chicago? Do you need access to branches or just ATMs. Also in chicago area here, and a member of a pile of credit unions are you thinking BIG Federal type CUs or small and local? I use alliant and Oak Trust predominantly for my banking operations, but I love love love Kane County Teachers and a couple other relatively small ones. I dont know many that are going to give you no fee withdrawls internationally, but alliant does rebate fees on ATMs so that may work. I dont think anybody is going to let ya bank without SSN anymore.

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Mostly in the Dupage county or around the Lombard area.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Any recommendations for any CU for my needs?

Thanks

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Honestly, I think you are overthinking the bank/CU angle.  And many of the benefits you claim for CUs aren't necessarily true.

Bank may be for-profit, but that doesn't stop them from offering better rates.  Two cars ago, the best deal I got was from my bank, not a CU (I am a member of three CUs for various reasons).  My bank was 1.5% better than any other bank or credit union I shopped.  My current car has a loan through a CU, primarily because I couldn't find anyone else to finance it (it is a 10 year old sportscar).

Also, I have no minimum balance required at my online banks, but I do at my credit unions.  It's a pittance ($5), but it's my "share" of the CU, and I can't get it back unless I close the whole account.

You also, generally, don't need to be a member of a CU to apply for a loan with that CU.  That's how I got the loan for my current car, and that became CU number 3.

When the time comes to get your auto loan, apply for preapproval at a number of banks and CUs, and see what will give you the best rate.  FICO lumps auto loan inquires together if they happen within 30 days, so don't worry about your score hit.  Once you find a good rate, then join that bank/CU and get the loan.

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Which bank is that?

[Anonymous]

We are neighbors Im in addison. Unfortunately this area is credit union hell,  there are credit1 credit unions around here, but not too much else. I had a good experience withdupage CU until they moved the branch on St Charles rd away. If you dont need branch access I would go for alliant (just tell em you go to church in elmhurst ) anybody in Dupage or kane counties can join kane county teachers as well.

[Anonymous]

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@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Any recommendations for any CU for my needs?

Thanks

---

Honestly, I think you are overthinking the bank/CU angle.  And many of the benefits you claim for CUs aren't necessarily true.

Bank may be for-profit, but that doesn't stop them from offering better rates.  Two cars ago, the best deal I got was from my bank, not a CU (I am a member of three CUs for various reasons).  My bank was 1.5% better than any other bank or credit union I shopped.  My current car has a loan through a CU, primarily because I couldn't find anyone else to finance it (it is a 10 year old sportscar).

Also, I have no minimum balance required at my online banks, but I do at my credit unions.  It's a pittance ($5), but it's my "share" of the CU, and I can't get it back unless I close the whole account.

You also, generally, don't need to be a member of a CU to apply for a loan with that CU.  That's how I got the loan for my current car, and that became CU number 3.

When the time comes to get your auto loan, apply for preapproval at a number of banks and CUs, and see what will give you the best rate.  FICO lumps auto loan inquires together if they happen within 30 days, so don't worry about your score hit.  Once you find a good rate, then join that bank/CU and get the loan.

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Which bank is that?

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Lots of banks:  Ally, Charles Schwab, Capital One 360.  There are many others as well; those are just the ones I use (or have used in the past).

[Anonymous]

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@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Any recommendations for any CU for my needs?

Thanks

---

Honestly, I think you are overthinking the bank/CU angle.  And many of the benefits you claim for CUs aren't necessarily true.

Bank may be for-profit, but that doesn't stop them from offering better rates.  Two cars ago, the best deal I got was from my bank, not a CU (I am a member of three CUs for various reasons).  My bank was 1.5% better than any other bank or credit union I shopped.  My current car has a loan through a CU, primarily because I couldn't find anyone else to finance it (it is a 10 year old sportscar).

Also, I have no minimum balance required at my online banks, but I do at my credit unions.  It's a pittance ($5), but it's my "share" of the CU, and I can't get it back unless I close the whole account.

You also, generally, don't need to be a member of a CU to apply for a loan with that CU.  That's how I got the loan for my current car, and that became CU number 3.

When the time comes to get your auto loan, apply for preapproval at a number of banks and CUs, and see what will give you the best rate.  FICO lumps auto loan inquires together if they happen within 30 days, so don't worry about your score hit.  Once you find a good rate, then join that bank/CU and get the loan.

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Which bank is that?

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Lots of banks:  Ally, Charles Schwab, Capital One 360.  There are many others as well; those are just the ones I use (or have used in the past).

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I see Charles Schwab does a HP, others on your list dont..

With the online banks, do they send you a debit card?