@Anonymous wrote:
I recently was attempting to get a C/C with a local credit union and in order to get the C/C you have to at least have a savings account with them. I was denied opening a savings account because they said I was on a report stating I owed another bank money. This is the first I have heard of this and will be investigating it, but my question is do all credit unions require you to have a savings or checking account with them in order to get a C/C with them? If so do they all check this report? I was told I need to get a C/C asap to help boost my score and i dont know how long the investigation is going to take. PLEASE HELP!Message Edited by jav32204 on 02-03-2010 11:42 AM
The concept of a credit union is that it is owned in part by all its members. Therefore you are required to buy a "share" in the credit union to become a member and be eligible for their products. This is the savings, or in CU lingo, share account. It's usually only $5, so it's totally worth it.
They might be using Chex Systems to check your banking history. You can get a free copy of your report here since you were denied, so you can see who is claiming you owe them money.
Edited to add: I think most banks use Chex Systems, so you will probably be denied everywhere if there is something negative on that report.
Message Edited by LisaPA on 02-03-2010 04:27 PM
