Credit Unions

[grillandwinemaster]

So do you all have a credit union you use to pay your mortgage, a different one for utilities, etc etc? 

I'm just trying to understand the utility of having multiple accounts. 

[Anonymous]

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@pipeguy wrote:

DCU, Congressional FCU and 40 years with PenFed which I no longer use for anything but a second mortgage (I'll save you the long story). If I had to pick just one it would be DCU.

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How did you become a member of Congressional FCU?

[core]

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@grillandwinemaster wrote:

So do you all have a credit union you use to pay your mortgage, a different one for utilities, etc etc? 

I'm just trying to understand the utility of having multiple accounts. 

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I can't speak for anyone else of course, but I only keep any real cash in one CU out of all of mine.  The rest are left with account minimums.  It goes something like this for me:

• Consumers CU keeps the cash because they pay 4.59% APY on up to $20k.  Also the 3% card is good for Walmart/Target
• Alliant for the HP-free installment loans for FICO purposes
• Penfed as an ACH hub
• Fort Knox only for the 5% gas card including in-store purchases
• DCU for the score
• CU #6 because they instantly credit mobile deposits of money orders without complaint
• CU #7 (local) makes it easy to quickly open free business checking accounts with no fuss.  Also free ATM cash advances which is handy for buying used cars and things where you have to have lots of paper cash at short notice.
• NASA because they are jerks but I didn't know it before I took the hard pull

[Anonymous]

Altura penfed kinecta. I do not have credit accts with any of them right now.

[Anonymous]

Just two for now... local one that is my hub, and PenFed for gas card.

Kinda thinking about UNFCU in the future for a chip+pin card but I'm fairly certain any more CU's would deny me for now due to too many new accounts, and I don't want to incur the wrath of Barclays.

[Gmood1]

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@grillandwinemaster wrote:

So do you all have a credit union you use to pay your mortgage, a different one for utilities, etc etc? 

I'm just trying to understand the utility of having multiple accounts. 

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I use Penfed for auto loans and CC, Xcel for their rewards checking, Kinetic was my first CU with local branches, NavyFed for CC and has a local branch, Alliant for secure share loan and savings(daughter's first car fund), NASA  for CC and savings(daughter's first car fund). SDFCU is the only one I haven't utilized for anything.

[pipeguy]

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@Anonymous wrote:

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@pipeguy wrote:

DCU, Congressional FCU and 40 years with PenFed which I no longer use for anything but a second mortgage (I'll save you the long story). If I had to pick just one it would be DCU.

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How did you become a member of Congressional FCU?

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Lots of ways to join http://www.congressionalfcu.org/join/ for a list of eligible organazations.

I happen to work of Capitol Hill and its the "local" CU. Over all a decent smaller CU, with decent rates (Credit Cards, loans, etc) but their web site - including functions - needs a major update and I tend to use the web site rather than go to a branch. I do like the no fee instant "credit card loan" (cash advance) feature which is similar to DCU's. I don't carry much cash as a rule and when traveling, which I do a bunch, its a great function to get $500 from a free ATM on the road (I use this all the time with both DCU and CFCU). CFCU does not require direct deposit of your paycheck for posted rates I don't believe, but I don't have any loans with them, just small checking/savings and a Visa.

DCU is my primary CU - CFCU is my "back up".  

[Anonymous]

I belong to four and plan to join and do business with two others when I leave the garden next year. I love credit unions. 

PenFed - Rewards, Promise, PLOC

NASAFCU - Rewards. Savings

RBFCU

SDFCU

[baller4life]

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@Anonymous wrote:

I belong to four and plan to join and do business with two others when I leave the garden next year. I love credit unions. 

PenFed - Rewards, Promise, PLOC

NASAFCU - Rewards. Savings

RBFCU

SDFCU

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I love them too neighbor. I do all my banking with credit unions. Only use banks for rewards cards. That's it.

PS. And whomever is doing a rain dance here in Texas needs to CUT IT OUT!!!

[Anonymous]

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@baller4life wrote:

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@Anonymous wrote:

I belong to four and plan to join and do business with two others when I leave the garden next year. I love credit unions. 

PenFed - Rewards, Promise, PLOC

NASAFCU - Rewards. Savings

RBFCU

SDFCU

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I love them too neighbor. I do all my banking with credit unions. Only use banks for rewards cards. That's it.

PS. And whomever is doing a rain dance here in Texas needs to CUT IT OUT!!!

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Yes, they do!