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Convince me to switch to a CU.

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SunriseEarth
Moderator Emeritus

Re: Convince me to switch to a CU.


@mongstradamus wrote:

@SunriseEarth wrote:

@FixMyCredit1992 wrote:

I applied for membership with DCU and was approved, pending submitting a copy of my DL and SS Card.

 

I currently bank with Citi Bank and BOA. However DCU appears to have great rates, the only con seems to be no branches anywhere near me.

 

Does one really need a branch? Should I switch to DCU, or does Citi/BOA have a place?


How often do you actually go in a branch?   I'm not sure how DCU is in particular, but CUs often have partner branches if you really need to go in a location where they don't have their own branch.  If you really only need ATM access, you can do fee-free transactions at any CO-OP ATM.   Every 7-11 in the country has one of those, as does every CU.   It's extremely convenient to find a CU ATM.  


every drugstore around here too has those coop-atms i believe also. Here every CVS and walgreens has those atms. They are popping up everywhere, we have like 8 cvs here in my little town. Craziness.


That's interesting.   The CVS stores in my area typically have Chase ATMs, but there's a lot of Chase ATMs and branches here in general.   You'll often see the COOPs at grocery stores here.  



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Message 11 of 32
mongstradamus
Super Contributor

Re: Convince me to switch to a CU.


@SunriseEarth wrote:

@mongstradamus wrote:

@SunriseEarth wrote:

@FixMyCredit1992 wrote:

I applied for membership with DCU and was approved, pending submitting a copy of my DL and SS Card.

 

I currently bank with Citi Bank and BOA. However DCU appears to have great rates, the only con seems to be no branches anywhere near me.

 

Does one really need a branch? Should I switch to DCU, or does Citi/BOA have a place?


How often do you actually go in a branch?   I'm not sure how DCU is in particular, but CUs often have partner branches if you really need to go in a location where they don't have their own branch.  If you really only need ATM access, you can do fee-free transactions at any CO-OP ATM.   Every 7-11 in the country has one of those, as does every CU.   It's extremely convenient to find a CU ATM.  


every drugstore around here too has those coop-atms i believe also. Here every CVS and walgreens has those atms. They are popping up everywhere, we have like 8 cvs here in my little town. Craziness.


That's interesting.   The CVS stores in my area typically have Chase ATMs, but there's a lot of Chase ATMs and branches here in general.   You'll often see the COOPs at grocery stores here.  


I only know they have them because they are closest things to me if i need to use atm which i hardly ever use :-) they are my goto atms for both my ally and alliant CU. I think theres something like 50k atm you can use in the US, not too shabby!!!



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Message 12 of 32
ExplicitElicit
Established Contributor

Re: Convince me to switch to a CU.


@SunriseEarth wrote:

@mongstradamus wrote:

@SunriseEarth wrote:

@FixMyCredit1992 wrote:

I applied for membership with DCU and was approved, pending submitting a copy of my DL and SS Card.

 

I currently bank with Citi Bank and BOA. However DCU appears to have great rates, the only con seems to be no branches anywhere near me.

 

Does one really need a branch? Should I switch to DCU, or does Citi/BOA have a place?


How often do you actually go in a branch?   I'm not sure how DCU is in particular, but CUs often have partner branches if you really need to go in a location where they don't have their own branch.  If you really only need ATM access, you can do fee-free transactions at any CO-OP ATM.   Every 7-11 in the country has one of those, as does every CU.   It's extremely convenient to find a CU ATM.  


every drugstore around here too has those coop-atms i believe also. Here every CVS and walgreens has those atms. They are popping up everywhere, we have like 8 cvs here in my little town. Craziness.


That's interesting.   The CVS stores in my area typically have Chase ATMs, but there's a lot of Chase ATMs and branches here in general.   You'll often see the COOPs at grocery stores here.  


Chase is what you would find here in Dallas at Walgreens and CVS.. Funny though more and more of them are starting to let you get money in the increments of $5 now which I think is pretty cool.

Message 13 of 32
Revelate
Moderator Emeritus

Re: Convince me to switch to a CU.

Cash, what sort of forum are y'all on anyway? Smiley Happy  So last millenium!

 

Business accounts, that I can clearly see the need for being local especially when we're talking cash deposits, but with remote check deposits, is there much need to visit a branch now that I'm not seeing?




        
Message 14 of 32
gwizdak24
Frequent Contributor

Re: Convince me to switch to a CU.

Personally I bank with Chase and BOA, I will be closing BOA off and keeping Chase open because I have a safe deposit box with them. I also bank with a CU where there is no branches accessible to me. As a matter of fact I have never been inside of a branch. I do get direct deposit, but the occasions that I do get a check I just take a picture of it and by the next day all the funds are available.  I love the relationship with the CU, it seems so simple, checking, savings, mm, c.d. line of credit, and now a credit card. Far more generous and personal than any bank.

 

Message 15 of 32
FixMyCredit1992
Established Contributor

Re: Convince me to switch to a CU.

I'm very upset with DCU.

 

They sent me an email stating to scan and fax copies of my Drivers License. I did them one better and faxed copies of m DL, social security card, and a copy of my phone bill in case they needed it. 

 

They emailed me and said the doccuments were accepted, and to give them 48 hours.

 

I did, and called them back today.  The rep said I was declined because they could not identify me. I told them "How could you not ID me? I send you my DL, SS Card, and my phone bill".

 

The rep got rude and said "Well that's all they told us, you will get a letter in the mail", and then hung up on me.

 

Man Indifferent

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Message 16 of 32
mongstradamus
Super Contributor

Re: Convince me to switch to a CU.


@FixMyCredit1992 wrote:

I'm very upset with DCU.

 

They sent me an email stating to scan and fax copies of my Drivers License. I did them one better and faxed copies of m DL, social security card, and a copy of my phone bill in case they needed it. 

 

They emailed me and said the doccuments were accepted, and to give them 48 hours.

 

I did, and called them back today.  The rep said I was declined because they could not identify me. I told them "How could you not ID me? I send you my DL, SS Card, and my phone bill".

 

The rep got rude and said "Well that's all they told us, you will get a letter in the mail", and then hung up on me.

 

Man Indifferent


really thats odd when i had to send in my docs for alliant , i never had any issues like that. Were you applying for cc or just regular checking or savings account? I had no issues at all. 



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Message 17 of 32
FixMyCredit1992
Established Contributor

Re: Convince me to switch to a CU.

I'm still waiting on Alliant and Lake Michigan Credit Union.

 

I was just applying for a checking account and new membership. 

 

I have a fraud alert on my CR, which is probably the reason they needed to see these doccuments.

 

I have no clue as to why, but Credit Unions take a very long time to process membership, whereas when I opened my Bank of America and Chase (no longer use them) accounts within minutes. 

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Message 18 of 32
Revelate
Moderator Emeritus

Re: Convince me to switch to a CU.

Hrm correct me if I'm wrong but I thought phone bills were explicitly excluded from this type of identity verification by many if not all lenders as they're not tied to a residence anymore?




        
Message 19 of 32
FixMyCredit1992
Established Contributor

Re: Convince me to switch to a CU.

Like I said, they only asked for my ID, but I send the other stuff incase they needed it.

 

 

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Message 20 of 32
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