Any Reason to Still Bank at US Bank?

[XxRaVeNxX]

After looking at a means to re-finance my vehcicle, from under my sub-prime lender. I went with NFCU.(Thanks to the numerous posts about this union, didn't even know they existed prior)

So, now I have a checking/savings account, as I had to open it, to get the loan. I've banked with US Bank for the past seven years, which doesn't really matter. They've been good when they refunded a huge amount when my debit card was lost/stolen.

And there's record of me having this bank account for seven years, only reason, I know there's record of this, was when I was going through financial issues, and stupidly went through payday loans.(Before I had decent credit)

In a nut shell, any reason to not close my us bank account, and just bank completely with NFCU?

[chasmith]

I really like NFCU but am reluctant to put all my "eggs in one basket".  I also bank at USAA (if you can get in to NFCU you can also probably join USAA).  I also have an account at First Tech FCU (associated with my work).  I see no reason to deal with any bank though, Credit Unions (and USAA is sort of a hybrid) for me...

[HoldingOntoHope]

Unless there is a convenience factor for you or some personal relationship with US Bank then no. I am fortunate to have a branch of NFCU literally in my neighborhood (less than 1/4 mile from home). Some people like the idea of being able to walk in and face to face with a representative of the financial institution. But NFCU has the ability to offer all the products and services that US Bank can offer. And they do it all with a superior level of customer service compared to other institutions and an eagerness to develop and grow multiple credit relationships. Just a word of warning though to you and others. If you ever default and burn NFCU on a credit obligation there is "No soup for you" ever again. They are not forgiving at all when it comes to their own products.

[XxRaVeNxX]

I suppose...I like how there are 8 US Banks in my city, as opposed to one NFCU..twenty minutes away...but the surprising thing to me, I found out...is NFCU has customer service 24/7...and they weren't 'overseas'

One last thing, instead of opening another topic, am I more prone to be approved for their credit card or NavCheck if I use it as my main bank...I just threw $50 in my checking and savings, so it isn't sitting at 0.00, and haven't touched it, nor activated my card...


Thanks

[HoldingOntoHope]

There are experiences documented in posts by forum members that NFCU seems to be more generous with those who use them as their primary bank including direct deposit. But even for those who do not their approvals from NFCU normally exceed their expectations based on existing credit lines. In other words YMMV.

[Peach8321]

DH and I recently opened a new account at a local CU just to deposit money.

So I'd say, online banking of any type is only convenient if you don't deal with cash, but if you do, keep a local account open as long as it's free so you can get access to that cash electronically (ie, for paying CC monthly).

[XxRaVeNxX]

Upon closer inspection....seems NFCU is hands down better than US Bank...the minute I saw their overdraft fees are only $20...and they don't charge an overdraft fee for anything under $15....