@MASTERNC wrote:I saw this credit union in Minnesota called Affinity Plus is offering 1% APY on a money market account, much higher than anyone else. You can join with a $25 donation if you do not qualify any other way.
I applied online and submitted copies of my drivers license and Social Security card. A few hours later, I received a message that they could not approve my membership. I went on video chat and the rep was very nice. She said the application system did not know how to handle a fraud alert on either TransUnion or Chexsystems. She sent me a DocuSign paper application to fill out. I sent that back and waited five days.
I hadn't heard anything so I inquired again and said that too was denied. She said a letter was coming in the mail and could not give me more details. I know there are no black marks on either TransUnion or ChexSystems other than fraud alerts. I am at somewhat of a loss because I have never been denied a bank account before, let alone any type of credit.
I was wondering if anyone had dealt with Affinity Plus and if they are picky with membership applications. What are my changes of getting them to reconsider? I don't know how much more I can do to prove my identity. Clearly this would double my interest income if I can get in with them.
Frankly I would just move on. There are many other fish in the sea.
They're probably finicky about out of state members; many credit unions are that way. Some are finicky about your having joined other credit unions.
But who wants to be a member of a credit union that doesn't even want you to lend them money? 
I once was turned down by a local credit union -- located about a mile from my office, and about a mile and a half from my house -- because my signature on the application wasn't identical to my signature on my drivers license I figured if they're that stupid, do I really want to enter into a relationship with them?
Please do let us know what the letter says (if you're willing). The more you know ...
As @SouthJamaica notes, FCUs can be finicky beasts.
@MASTERNC wrote:Anyone know of other CUs paying similar rates without too many gimmicks? I can do some direct deposit but I don't want a debit card use requirement
Affinity FCU has a savings account that pays 2% on the first $2500 in savings and 1% on the next $2500; no strings attached.
DCU has a savings account that pays 6% on the first $1000.
Alliant's regular savings and PenFed's premium savings pay .55%.
@MASTERNC wrote:Thanks. I'm already getting 0.55%, and have about $25k to deposit. I signed up for SoFi's 1% offer but not sure how long that will last. Saw some other random online bank offering 0.85% as a fallback option.
I believe TMobile has a 1% account. I read about it recently in this forum here:
https://ficoforums.myfico.com/t5/Personal-Finance/High-Yield-Savings-Accounts/m-p/6473429#M242387
@SouthJamaica wrote:
@MASTERNC wrote:Thanks. I'm already getting 0.55%, and have about $25k to deposit. I signed up for SoFi's 1% offer but not sure how long that will last. Saw some other random online bank offering 0.85% as a fallback option.
I believe TMobile has a 1% account. I read about it recently in this forum here:
https://ficoforums.myfico.com/t5/Personal-Finance/High-Yield-Savings-Accounts/m-p/6473429#M242387
Yes, TMobile's 1% no strings attached, no gimmicks, no limit on earning the 1% is pretty simple. I've been using them for nearly 1 year as our main accout. Early DD as well! If you have TMobile cell service, then you can earn 4% for some amount but it takes some effort. I have Verizon, so that part doesn't benefit me.
If you have $25k to deposit, then I also suggest getting an Evansville Teacher's Federal CU Vertical Checking account. They pay 3.3% for the first $20k... but it does take a little effort to earn that rate. One direct deposit, 15 Debit card transactions, one online login, and something else (electronic statements?). The 15 Debit card transactions take the most effort, but can be done with Amazon reloads, Venmo, Cashapp, etc.
@SouthJamaica wrote:
@MASTERNC wrote:I saw this credit union in Minnesota called Affinity Plus is offering 1% APY on a money market account, much higher than anyone else. You can join with a $25 donation if you do not qualify any other way.
I applied online and submitted copies of my drivers license and Social Security card. A few hours later, I received a message that they could not approve my membership. I went on video chat and the rep was very nice. She said the application system did not know how to handle a fraud alert on either TransUnion or Chexsystems. She sent me a DocuSign paper application to fill out. I sent that back and waited five days.
I hadn't heard anything so I inquired again and said that too was denied. She said a letter was coming in the mail and could not give me more details. I know there are no black marks on either TransUnion or ChexSystems other than fraud alerts. I am at somewhat of a loss because I have never been denied a bank account before, let alone any type of credit.
I was wondering if anyone had dealt with Affinity Plus and if they are picky with membership applications. What are my changes of getting them to reconsider? I don't know how much more I can do to prove my identity. Clearly this would double my interest income if I can get in with them.
Frankly I would just move on. There are many other fish in the sea.
They're probably finicky about out of state members; many credit unions are that way. Some are finicky about your having joined other credit unions.
But who wants to be a member of a credit union that doesn't even want you to lend them money?
I once was turned down by a local credit union -- located about a mile from my office, and about a mile and a half from my house -- because my signature on the application wasn't identical to my signature on my drivers license
Lol this! I have like 4 CUs who wouldnt lend me a $1 im going to write a letter to each to close each one since i know they will never lend.