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Suck It, Banks


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#16 Floppin

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Posted 11 December 2012 - 03:06 PM

Forgive me for my ignorance, but I'm intrigued by this... My grandmother used to work for a credit union, but I was always under the impression that you had to set up with them through your employers and I've never really asked otherwise...

What are the options in NC and do you get the same benefits of a "big bank," such as direct deposit, ATMs, etc.? Only one I'm really aware of in NC is the SECU, but again, I thought you had to be employed by the state to bank there.

My wife and I are tired of Wells Fargo, who we were forced to bank with once they took over Wachovia, who we had no problems with... Since WF has taken over, they have virtually stolen hundreds of dollars from us in fees that didn't exist with Wachovia. If this is feasible, I think everyone should do this and take the power away from the banks.


SECU is stupid easy to get into these days. You used to have to be directly employed or have a immediately family member employed by the state in order to become a member. Now you just have to live with someone, hell you can even be the neighbor of someone.

I've been with them since my stepdad started working as a teacher back when I was a teenager. I got my roommate an account because we had the same address, and this was about 7 years ago. It's even easier now.

#17 Floppin

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Posted 11 December 2012 - 03:09 PM

I've been in SECU since I was a teen. Grandfathered in through my relatives being state employees. Rates are generally good for loans, BUT you'll hardly find many really good mortgage rates. The SECU in particular is very conservative in their lending...so you're not going to find a Quicken loan like rate at SECU. Probably same for car loans too, but I haven't had one in forever.

I've never had a problem with my CU.

That being said...I got mortgage redone with BB&T a few years back. NC-based company, for now, that's done quite well.


I got my first, and only, car loan from SECU back in 2007. At the time I had no credit, not bad credit just no credit. All I had to do was prove my employment and the loan officer just asked me how much I wanted. No fuging figures on % of total income or nothing. I walked out of there with a $27,000 at 5% interest for my Nissan Frontier no questions asked.

#18 Davidson Deac II

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Posted 12 December 2012 - 08:06 PM

I have accounts at both a big bank and a credit union. I like both of them. Excellent customer service from both. The big bank is more convenient, the credit union has fewer fees for various transactions. So if I need to use an ATM, I go to the big bank. If I need to buy a Visa Gift Card, I go to the credit union.

Fwiw, I wouldn't want to work for a Credit Union though. The pay is generally lower than banks.


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