damn it feels good to be a banksta [Bank/Credit Union Recs?]

fightinfilipino

and by that i mean, it must feel good for megabanks making megabucks off my meager salary.

i'm jumping ship from Bank of America, i just don't know where to. i've been looking at Ally, but some of the stuff i've been reading about them taking TARP funds has me nervous. i've also been looking at California Coast Credit Union as an option, but don't know anyone personally who banks with them.

anyone have any suggestions or good stories about their banking experiences? recommendations on where i should go? i'm looking for a bank that has a savings account option with a decent interest rate, and flexibility on ATMs and/or debit card use.

Hewn

A credit union is really an excellent option. The two I've joined are profession and location related.

For example, I was able to join a teacher's credit union awhile back and their personalized service was top notch. Alternatively, I've also joined a local credit union for residents of my city. Again, very personalized treatment and no fuss service. You learn the names of the people you deal with, so it's all very pleasant. The debit cards you get from the smaller credit unions are usually a VISA, and work with all the ATMs nationwide, but the fees vary dramatically. You'd have to check with each one there.

Djeet

You'll want a credit union that participates in the credit union network (most do I think); when withdrawing from another participant credit union's ATM you'll only pay fees on 1 side of the transaction.

I actually kept my BofA bank account and just sweep 80%+ of my direct deposit from it to my credit union as soon as it clears. This way I represent max cost to BofA (no monthly fee on checking w/direct deposit), I still have access to the BofA ATM network, and I put most of my monies in higher interest savings/checking from the credit union. I'll keep it this way until BofA finds a new bullshit fee to charge me and close it then.

Thanatos

This is going to depend heavily upon where you live; most credit unions are regional.

Right now, it's pretty much impossible to find a savings account with anything approaching a "decent" interest rate, though some credit unions will give you a good rate on your first $X,000, which is nice.

fightinfilipino

Thanatos wrote:

This is going to depend heavily upon where you live; most credit unions are regional.

Right now, it's pretty much impossible to find a savings account with anything approaching a "decent" interest rate, though some credit unions will give you a good rate on your first $X,000, which is nice.

yeah, i probably should've mentioned, i'm in the Southern CA area.

mrt144

Thanatos wrote:

This is going to depend heavily upon where you live; most credit unions are regional.

Right now, it's pretty much impossible to find a savings account with anything approaching a "decent" interest rate, though some credit unions will give you a good rate on your first $X,000, which is nice.

When %1.05 apy is on the higher end of things, its a pretty lame time to be a saver.

ResidentSleepwalker

Hedge funds.

Laemkral

I concur with the "go credit union" train of thought. A regional credit union would be best, and most partner up. Check into that while shopping around, see what each offers.

I've been banking with USAA, which is similar to a credit union but is only for military members and their families. Outstanding service because they actually care about having my business. Most credit unions are much more customer oriented because they aren't owned by some corporate board and so not profit oriented.

fightinfilipino

i wish i had access to USAA. their insurance sounds pretty great, too.

hmm, howabout this: what questions should i ask a credit union to figure out if it'll work for me? i never knew about credit union ATMs being nationally linked until this thread, for example.

Djeet

Most important is probably hours of operation, do they have ATMs near where you work/live/go out, maintenance fees and how to avoid them, entry fee (the way mine's setup you buy a share/spot in the union for $1, and then you just need to have 1 transaction per year), minimum balances on accounts, and then services/products. Mine, for example, will instantly open a $300 line of credit at 5% or something in the event that you overdraft; this can be declined if you wish, or expanded if you carry certain balance amounts. They might have an above market rate for a small CD as Than was saying. If you've a home or auto note check out their re-fi rates. If you've kids they might have youth saver accounts/CDs.


The way the CU ATM network works is like this: when you draw from an ATM both the owner of the ATM (bank or 3rd party) charges a fee, as well as your bank/CU. If your bank/CU owns the ATM there is no charge. If your CU participates in the network, the CU operating the ATM charges you, but your CU doesn't. Just like banks, CUs may give you better perks if you hold more assets with them, like crediting back ATM charges or better rates on savings/checking/CDs.

kaliyama

fightinfilipino wrote:

and by that i mean, it must feel good for megabanks making megabucks off my meager salary.

i'm jumping ship from Bank of America, i just don't know where to. i've been looking at Ally, but some of the stuff i've been reading about them taking TARP funds has me nervous. i've also been looking at California Coast Credit Union as an option, but don't know anyone personally who banks with them.

anyone have any suggestions or good stories about their banking experiences? recommendations on where i should go? i'm looking for a bank that has a savings account option with a decent interest rate, and flexibility on ATMs and/or debit card use.

I looked at this issue and the answer depends on where you are for branch access. Since you're in a small immigration law firm, FF, are you downtown on Olive? Somewhere else downtown? Somewhere else in LA?

CptKemzik

fightinfilipino wrote:

i wish i had access to USAA. their insurance sounds pretty great, too.

hmm, howabout this: what questions should i ask a credit union to figure out if it'll work for me? i never knew about credit union ATMs being nationally linked until this thread, for example.

Access to USAA as in their banking? I'm pretty sure banking is open to anyone now. Insurance and other financial products are still limited to veterans/family of veterans.

From the website: "USAA's investment products, most checking and savings products, credit cards, life insurance, and shopping and discounts are available to other individuals."

fightinfilipino

CptKemzik wrote:

fightinfilipino wrote:

i wish i had access to USAA. their insurance sounds pretty great, too.

hmm, howabout this: what questions should i ask a credit union to figure out if it'll work for me? i never knew about credit union ATMs being nationally linked until this thread, for example.

Access to USAA as in their banking? I'm pretty sure banking is open to anyone now. Insurance and other financial products are still limited to veterans/family of veterans.

From the website: "USAA's investment products, most checking and savings products, credit cards, life insurance, and shopping and discounts are available to other individuals."

oh reaaaaally? definitely going to check them out now.

@kaliyama i'm down in San Diego, Mission Valley area. i really don't think i could survive the crazy that is the LA immigration law community

MulysaSempronius

I use USAA, and they really work hard to make up for not having local branches. They refund ATM fees (not unlimited, but enough a month that I've always been reimbursed), and it's really easy to do anything either online or over the phone.

CptKemzik

Yes, I'm also going to endorse USAA as well (they're my bank and auto insurance - thanks dad!). They also have the easy deposit check service at UPS stores, and if you have a smart phone or scanner you can deposit checks that way too. The only trouble i've really had with them being my bank is having no way to deposit straight cash. I know they have new atms where you can do this, but they're all in texas (where the bank is).

xraydog

I switched from BofA to Ally a few months back and had no problems at all. They have a competitive interest rate on checking and reimburse all ATM fees nationwide. They're an online bank so to deposit a paper check you'll either have to mail it or scan it with their eDeposit service. I recommend them. Also you can't go wrong with a CU like others have said.

Fantasyrogue

Oops, wrong thread. Nevermind me >.>

XArchangelX

My recommendation is perkstreet.com but if you use www.checkingfinder.com, there's some good ones on there, too.