topic Re: Blue FCU in Personal Finance

Blue FCU

recoveringfrombk7 — Mon, 18 May 2020 03:48:32 GMT

I searched and all I found was a thread from 2 years ago. Just curious if anyone has recently joined? Looks like they are Chex sensitive based on the old DPs. I'm going to order a copy of my report since I've been busy with various CUs lately. I'm assuming that getting denied would simply be a matter of waiting and trying again, but otherwise no negative consequences.

They have a 5% for the first 1000$ account that I'm interested in. Looks like the requirement is a $5 deposit per month. Unless I'm missing something in the fine print there is nothing that says your balance has to end up $5, but rather that a transfer just needs to have occurred?

Thanks for any input!

https://www.bluefcu.com/everyday-banking/savings/accelerated-savings

Re: Blue FCU

AllZero — Mon, 18 May 2020 03:56:49 GMT

@recoveringfrombk7 Nice find. I do recall reading about them but I don't know much besides the name. Maybe @Gmood1 knows or @M_Smart007 , @Anonymous wants a crack at membership?

Re: Blue FCU

Anonymous — Mon, 18 May 2020 04:26:31 GMT

I actually looked at them awhile back because someone posted their credit card designs and I thought they were cool and they offer low APRs and one of them is even a fixed rate card. They have the Blue Foundation that you can donate $5 to during the application to get membership.

They have branches here locally which was part of the appeal for me in addition to shared branching. Not sure on Chex and I'm at my quota for how much money I can have in savings so they wouldn't benefit me much right now.

Re: Blue FCU

core — Mon, 18 May 2020 04:29:35 GMT

To me the way it's written, going 1 cent over $1k gives you just 0.10% on your entire balance. Normally I'd expect to still get the 5% on the $1k portion, but that's not what it says there. Maybe just poorly written, or maybe that's the gotcha?

Re: Blue FCU

AllZero — Mon, 18 May 2020 04:48:50 GMT

@blueFCU wrote:
What happens if I have over $1,000 in my Accelerated Savings account?
Accelerated Savings account holders earn dividends on balances up to $1,000. If you keep more than $1,000 in your Accelerated savings you will no longer earn 5.00% APY.

Your dividend on your entire balance will earn 0.10% APY.

We recommend keeping less than $1,000 in Accelerated Savings accounts.

Click here to learn more about Accelerated Savings accounts.

https://www.bluefcu.com/resources

Re: Blue FCU

M_Smart007 — Mon, 18 May 2020 04:49:46 GMT

@AllZero wrote:
@blueFCU wrote:
What happens if I have over $1,000 in my Accelerated Savings account?
Accelerated Savings account holders earn dividends on balances up to $1,000. If you keep more than $1,000 in your Accelerated savings you will no longer earn 5.00% APY.

Your dividend on your entire balance will earn 0.10% APY.

We recommend keeping less than $1,000 in Accelerated Savings accounts.

Click here to learn more about Accelerated Savings accounts.

https://www.bluefcu.com/resources

Re: Blue FCU

AllZero — Mon, 18 May 2020 04:53:25 GMT

There is also Extreme Checking. Earn 1.50 - 3.50% APY* on balances up to $15,000. It's not a set it and forget it type of account.

Dividend Criteria

A minimum of 10 debit card transactions must post and clear your account (excluding ATM transactions)
You must be enrolled in eStatements (must have a valid email address)
Have at least one of the following post and clear your account on a monthly basis:
- Direct Deposit
- ACH deposit or ACH withdrawal
- Online Bill Payment

https://www.bluefcu.com/everyday-banking/checking/extreme-checking

Re: Blue FCU

core — Mon, 18 May 2020 05:17:08 GMT

With the Extreme checking you also get $28/mo in ATM fee refunds. I applied, and the app is being held for review. Apparently they know I'm a very naughty individual! They allow funding with credit cards but I didn't want to risk a cash advance fee. Thanks OP!

Re: Blue FCU

Gmood1 — Mon, 18 May 2020 08:45:18 GMT

@AllZero wrote:
@recoveringfrombk7 Nice find. I do recall reading about them but I don't know much besides the name. Maybe @Gmood1 knows or @M_Smart007 , @Anonymous wants a crack at membership?

Actually I tried this one several years ago. I got an error when trying to join. And never could get them to email me back.

So I let Blue FCU ride into the sunset.

Possibly they are Chex sensitive. I had a bunch of CU and Bank accounts then as well.

Re: Blue FCU

M_Smart007 — Mon, 18 May 2020 15:55:41 GMT

@Gmood1 wrote:
@AllZero wrote:
@recoveringfrombk7 Nice find. I do recall reading about them but I don't know much besides the name. Maybe @Gmood1 knows or @M_Smart007 , @Anonymous wants a crack at membership?
Actually I tried this one several years ago. I got an error when trying to join. And never could get them to email me back.
So I let Blue FCU ride into the sunset.
Possibly they are Chex sensitive. I had a bunch of CU and Bank accounts then as well.

I have let a few go like that due to issues.

Re: Blue FCU (Chex sensitive)

core — Tue, 19 May 2020 00:36:03 GMT

I got denied, but they were nice enough to give me a personal call to tell me that. It turns out if you have 3-5 inquiries in 3 years they will deny you. I think that definitely falls under the "Chex sensitive" category. Hell I don't even think Schwab is that bad, and that's saying a lot.

In my case I was pressing it on the Chex inquiries anyway even for a tolerant CU, so I'm not all that upset about the denial. But I never dreamed they would be _that_ sensitive. Just thought I'd warn folks before anyone else applies.

Re: Blue FCU (Chex sensitive)

recoveringfrombk7 — Tue, 19 May 2020 01:00:26 GMT

@core wrote:
I got denied, but they were nice enough to give me a personal call to tell me that. It turns out if you have 3-5 inquiries in 3 years they will deny you. I think that definitely falls under the "Chex sensitive" category. Hell I don't even think Schwab is that bad, and that's saying a lot.

In my case I was pressing it on the Chex inquiries anyway even for a tolerant CU, so I'm not all that upset about the denial. But I never dreamed they would be _that_ sensitive. Just thought I'd warn folks before anyone else applies.

Thanks a lot for sharing DPs!

Re: Blue FCU (Chex sensitive)

Anonymous — Tue, 19 May 2020 04:20:59 GMT

@core wrote:
I got denied, but they were nice enough to give me a personal call to tell me that. It turns out if you have 3-5 inquiries in 3 years they will deny you. I think that definitely falls under the "Chex sensitive" category. Hell I don't even think Schwab is that bad, and that's saying a lot.

In my case I was pressing it on the Chex inquiries anyway even for a tolerant CU, so I'm not all that upset about the denial. But I never dreamed they would be _that_ sensitive. Just thought I'd warn folks before anyone else applies.

Yikes! That's insane! Thanks for sharing. I don't think many of us serial posters are eligible...

Re: Blue FCU (Chex sensitive)

M_Smart007 — Wed, 20 May 2020 13:27:03 GMT

@core wrote:
I got denied, but they were nice enough to give me a personal call to tell me that. It turns out if you have 3-5 inquiries in 3 years they will deny you. I think that definitely falls under the "Chex sensitive" category. Hell I don't even think Schwab is that bad, and that's saying a lot.

In my case I was pressing it on the Chex inquiries anyway even for a tolerant CU, so I'm not all that upset about the denial. But I never dreamed they would be _that_ sensitive. Just thought I'd warn folks before anyone else applies.

Thanks for posting. I would never qualify in a million years.