@Anonymous wrote:
@TLP1234NTX wrote:
@ngerasimatos wrote:
I bank with Chase, and a local CU for both personal and business. I agree that CUs for the most part are better, but I think since the change in the economy most CUs have become very conservative and taken on a "big bank" mentality.
Sans euphemisms and conjecture, no. Totally wrong.
Example, the credit union I just joined a week ago approved a new unsecured Visa CC for $1,000 limit. APPROVED! DONE! IN ONE BUSINESS DAY!!!
Compass BBVA would only give me secured VISA (which I promptly canceled today, and I have a clean record, no liens, collections, bankruptcy, no late payments on the closed accounts EVER, AND I HAVE A 746 FICO SCORE!!!, although I don't brag about it in my signature line when I post).
BIG BANK MENTALITY?
Not on your life. You won't convince me ;-)
It would be an error in judgment to assume that every one of the thousands of CUs meet your ideals. The fact is that many -- especially the large -- CUs are starting to show signs of conservatism. Some even go further than banks in some areas.
But then if you've only dealt with one or two CUs maybe you are just not aware.
IT would be an error in judgment to assume everyone has "a little common sense". Did you read anywhere I stated ALL CREDIT UNIONS, or ALL BANKS?
IF haven't considered that "maybe you are not aware".
Other than perhaps business school (are you an MBA?), have you been studying the financial markets, the intricacies of our current financial regulations post and pre the recent legislation, and especially before 2008? I have, but I don't make long babbling pontifications about it. I try to give people the benefit of the doubt ( I shouldn't have to quantify by indicating "a few", "OR ALL"), they know at least the "basics", and if they don't to just say so. Anyone can learn if they want.
IT doesn't take a genius level of cognitive skills to deduce after some research, that CU's "MAY" suit the average consumer better because of their structure. They are not structured like banks that are expressly profit driven, and even though they advertise they do, DO NOT CARE about there customers unless you have millions. Their actions and the way they handle business speak the truth. Tell me how many credit unions or "CU's" had to be bailed out by the FEDS recently. I'll bet there are exceptions to "EVERYTHING", but name me one credit union bailed out recently in the last couple of years. I don't look for the ones that have, but I DON'T HAVE TO LOOK FOR THE BANKS THAT HAVE FAILED AND BEEN BAILED OUT, that's all over the place.
ALL financial institutions have felt the pain of the current economy. It's a subject beyond the scope of my post, and perhaps this entire forum why, and how the fault of all the mess should be distributed.
ANY financial institution would be foolish not to be cautious how, and who they lend money to in this economy. That's a given, and that should be painfully obvious.
INSPITE of all that, CU's as a whole, are a better deal for most "little people" (aka average consumers) like myself. Don't believe it? Do your own research, ask people who belong to them. It's not difficult.
I've been debt free for sometime. It wasn't until I went shopping for a home loan among the instruments available that I realized how "conservative" ALL of the many lending institutions had become since I got rid of my last house and mortgage over twenty years ago.
I need to keep my money somewhere "besides under a mattress". Wells Fargo, BOA, Chase and (gag) BBVA Compass are large, bloated with top heavy mgmt, and corporate bureaucracy, who have shown themselves as large, tarkus,and inept. When it takes a banks (BBVA Compass in this event) credit card dept three weeks to find out why they don't report to all three CB's, and in the end still don't know (I cancelled my VISA with them and closed out all but one account)., then;
SOMETHING IS DEFINITELY WRONG!!!
Anyone offlist wanting to see the emails, I have them and will send them as proof.
