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originally posted by: TheSpanishArcher
I joined a credit union today, well yesterday, whatever. It's early.
I hate the banking system. Truly loathe it, but I need a debit card to exist and make money(the root of all evil and all that).
I'm still trying to figure this all out but the benefits of a CU so outweigh a bank that I'm wondering why most don't take advantage of the CU option instead of getting raped by a bank.
I can get dental insurance just by going with a CU. I can't get overdrafted as they have a option to not let me use money I don't have. Never seen that with a bank.
Anyway, I'm still figuring all of this out but I wanted to hear what you all had to say about this. I do think this is a way better option than using a bank.
Have at it, guys and girls. Wish I could have put this in a better forum but I was lost with this subject.
I think older peeps might remember the CU bubble fail...but that was fixed. When was that.....80S? Gotta look.
originally posted by: TheSpanishArcher
I can't get overdrafted as they have a option to not let me use money I don't have. Never seen that with a bank.
Anyway, I'm still figuring all of this out but I wanted to hear what you all had to say about this. I do think this is a way better option than using a bank.
originally posted by: StallionDuck
a reply to: Nyiah
Banks like Wells Farg-hoe has overdraft.
Before Bush put an end to it, you could borrow money up to a certain amount for a really small fee until payday. Bush clamped down on it because it was taking away from the HIGH fees that Pay-Day Loan companies were making off poor people, yet only the banks got slapped on the wrist for it.
Now, they do let you overdraft, again up to a certain amount but they charge you an overdraft fee per transaction which will add up quick. I think the point to where I can't pull more money out of an empty account is like 800$ or so. I think it goes up with tenure.
On the other hand, my CU has higher fees for overdrafting, but it's kind of weird. It's like 10 bucks more but once my balance is zero, It will not let me use it until I have a positive balance. I'm not sure how but I was able to overdraft it by a little once but I have no idea how. I was charged 45$ for it. They still dropped it which was cool of them.
If I go to the gas pump, the pump will stop at zero balance. Same with when I'm buying stuff at the store. I'll have to use my other card to carry the leftover balance which is cool. That's why I always use my CU card first because I really don't keep up with my balances like I should. I just assume I have more than enough because I'd keep the tally in my head. Though, the memory isn't so good these days
originally posted by: GENERAL EYES
Washington Mutual