/r/creditunions

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A credit what?

A credit union is an alternative to commercial banking. It's usually a cooperative institution that is owned by its account holders (members). They allow their members to elect their board of directors, each member has one vote. Credit unions offer a range of services including checking accounts, savings accounts, credit cards and online banking.


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/r/creditunions

3,606 Subscribers

2

Did patelco pay the ransom? Also is my information safe??

1 Comment
2024/07/15
04:05 UTC

4

Patelco cash withdrawal after security incident

I don’t know what my balance is and I want to transfer my money to another bank. I tried calling, going in person, going to an atm, no one knows how much I have in my bank account. What if I take out more than what I have? Will they even let me do this? I don’t want to have problems when this gets fixed but I also need my money. Has anybody found a solution to this yet?

11 Comments
2024/07/09
18:32 UTC

12

Is Patelco credit union cooked?!

This is going to take weeks to a month.. already on the 10-11th day today—they went radio silent for my July 28. Opening another credit union account to at least get my direct deposit this week and pay my bills. I started looking at the NCUA insurance policy and and how it works and it looks like the gist is that you won’t get your money unless a CU truly goes under or they transfer your funds to another accepting CU. Most of my funds are in Patelco, and I am really reevaluating if I should have multiple accounts just in case shit like this happens.

https://www.reddit.com/r/cybersecurity/s/eINTNE4VOw.

92 Comments
2024/07/08
13:46 UTC

1

Auto loans

Hello, 20 years old here. Looking to get my first new car. My credit score is currently a 745, and I have steady income. I am looking to get a new car because it’s time for one the car I have now I spend too much on maintenance a month that I’d rather just have a car payment on a new vehicle. The car I have now was also a gift from my father and which if I do get a new car it’ll be passed to my sister so I have no trade in. I am not fluent in finance but I have a general understanding. Now I seen that a lot of people like to use private financing through their credit unions. I have been a loyal member of my union since I was probably 15 so 5-6 years now. In my head the process is as followed… go to the credit union, apply for the loan, get approved, then take cashiers check to dealership and present it right when they ask to run your credit. But I am unsure how the other stuff works. For example the car I want is 25k but I get approved for 35k what happens then with the balance? Or say the car I want is 25k but I only get approved for 20k then what? Some other people have told me that I can’t just take my credit unions loan to any dealership either because they don’t work with that financial institution, is this true?

5 Comments
2024/07/03
11:23 UTC

5

Advice

I’m looking for a credit union with no monthly fees for their checking account, main reason I want to open a checking account with a credit union is for three reasons.

  1. To be apart of a credit union

  2. To get rid of my checkings account from Bank of America to avoid their monthly fees.

  3. To be able to transfer money from my SoFi account to the credit union checkings account to then take it out in cash with no atm fees. (It’s what I do with my Bank of America account but I just want to avoid fees.)

Would appreciate some advice.

8 Comments
2024/07/02
00:53 UTC

2

Can two Members have their revocable trust (both trustors/grantors) on their own Memberships?

Let’s say Bob and Jill have created “The Bob and Jill Family Trust”.

Bob and Jill both have their own primary Memberships and they want both of their memberships to have the trust on it.

Is this possible? I assume the answer is yes because I’ve seen it at my credit union but what trips me up is the question of whose SSN it reports under.

Members never know the answer to that and when I call my back office for support they say they can’t answer that question because they’re not lawyers. But I think it can as long as they file jointly on their taxes. Is that true? Then if they don’t file jointly it can only be on one account?

3 Comments
2024/07/01
07:48 UTC

3

Opinions

I wanted to ask if there are any credit unions that work with Bank of America atms? Wanted to be part of a credit union to start getting my history going with one and to replace my checking account with Bank of America with a credit union one instead.

3 Comments
2024/06/29
03:30 UTC

0

Wings Financial - Question about when an account holder dies.

My father died and he had an account at Wings Financial. I was told by a rep that they would send me a death claim packet requesting a death certificate and a statement of intent. It’s been 3 weeks and I haven’t received anything in the mail. I am going to call tomorrow but getting in touch with their customer service has been difficult. What is the process for when an account holder dies? How long does it usually take to receive a death claim packet? Thanks in advance.

1 Comment
2024/06/28
03:55 UTC

1

Auto Loan Rates in California?

Posted earlier about this but wasn’t specific to California. I didn’t think it mattered but got messages saying to repost. Idk. Anyways, who’s got the best rates for new auto loans? I’m in socal and I was told navy fed was good but have to be military to get in on that. Who else has anything under 6%? Thanks in advance!

1 Comment
2024/06/26
06:59 UTC

6

Broke up with military partner, do I need to quit nfcu?

Hi all, I can't seem to find the answer to this question when googling. I recently broke up with my ex partner who was affiliated with the military. As a result I'm definitely not in the category of qualifying to open a navy fed account, but I already have a bank account with them and a CC. Do I need to close my account after the breakup? Is this something they periodically check?

8 Comments
2024/06/26
03:31 UTC

1

Best Credit Unions for Auto Loans in South Florida

What is the best credit union in south florida for auto loans for vehicles?

Im looking at some toyota rav4s couple years old with pretty low miles and I can do an ok amount of downpayment.

Currently looking around and seeing rates around 6,7%. Is that considered high for today? I see dealers are floating around 11,12% on their sites.

5 Comments
2024/06/13
21:40 UTC

4

Any recs for a good credit union in Florida?

Hi everyone! Im a state of FL employee and was wondering if anyone had some good recs for a credit union in FL with atm capabilities in Miami. I’d like to open a checking/savings account as well as possibly getting an auto loan in the future. I’ve seen some recs for PenFed but I wanted to get some input first! Thanks and my apologies if this has been answered already

10 Comments
2024/06/11
20:20 UTC

0

$200 Referral Bonus

Hello everyone,

l've received a referral promotion code from SFCU. If you use my code and sign up with direct deposit, we each get $200!

The code: F7A2V9H

6 Comments
2024/06/09
20:03 UTC

4

is status a concern for credit unions?

I have legally being in USA around 5 years but my status is not the one of a green card. Still I'm legally allowed to do everything including work. I've seen applications saying I gotta be citizen or U.S resident alien when finishing them. Does it mean that if I apply the application will be denied? That has been refraining me from completing applications since I hate issues with institutions or anyone. If also you know a credit union you think would take me in please advice. Thank you!

5 Comments
2024/06/09
07:12 UTC

8

Seeking advice: Should I take a position that forces me to resign from a credit union's board?

I graduated from college in May. I am currently an intern with my local city but they have a hiring freeze . I have been renewed as an intern and the position is paid. I recently received a job offer from my state government as a financial institution examiner. However, accepting this position would require me to resign from my board position at my University's credit union. I joined the board last December, and my term is for three years. I find my role on the board incredibly rewarding and enlightening. I have been working with staff to find new opportunities to expand membership. I genuinely enjoy working with my fellow board members and the management team. The position is as a volunteer. What should I do?

8 Comments
2024/06/07
08:45 UTC

1

Auto Loan Rates

Who’s got the best rates these days? My current CU is giving 6.2% anyone know of anything better? Tier 1 credit. Thank you in advance!

6 Comments
2024/06/07
02:51 UTC

5

Interested to move from Retail to CU and not sure what I should expect or look for. What do I need to think about?

I have a large relationship with Wells Fargo that stretches' back 30+ years. I've tried to get away several times, and each time, they acquired my new bank and I'm back.

We have a fair amount going on e.g. ~10 different accounts with multiple checking and savings for various family members, mortgage, wires, brokerage, etc. But are a mostly digital family and rarely if ever go into a branch. With two kids headed off to college, we want them to build financial knowledge and have their own basic services, but they won't have complex needs. Our needs are also getting simpler as we move towards retirement, will be paying off or refi mortgage, consolidating relationships, etc.

I'm not sure what to expect at a Credit Union, but like the idea, have only heard good things, and open to some level of reduced sophistication in exchange for a more local relationship.

What do I need to look for? Difference between hyper local and national CUs? Are some CU's "real" non-profit and others only technically so?

18 Comments
2024/06/06
14:00 UTC

2

Credit unions that require a hard pull to join

  • California Coast Credit Union (aka Cal Coast)

  • Los Angeles Federal Credit Union (LAFCU)

I've also heard Alliant does.

Any others?

4 Comments
2024/06/05
19:17 UTC

2

Fraud on different credit union cards within the past day

Kind of weird. My friend, who's with Navy Federal, and I, with Affinity FCU, both had fraudulent activity on our cards within the past 24 hours.

Hers was a NFCU credit card and mine was an affinity Credit Union debit card which I've never actually used to make a purchase. This has never happened to either one of us before.

Wondering if there's been a systemic data breach of multiple credit union databases recently.

We both got text messages saying that there was suspicious activity and we responded by denying that the charges were ours and they were apparently refunded although they never actually appeared in the account so they must have been flagged as bad from the beginning.

Strange coincidence or an emerging problem?

1 Comment
2024/06/05
17:06 UTC

4

Seeking Advice: I want to be hired as a member representative at a credit union in June.

Context:
I'm a strong worker at an overstaffed restaurant and management will be cutting my hours to hire international friends and family for the summer. For many weeks I've been applying to credit unions nearby with no luck. I both need and want a new job in June and I'd like it to be at a credit union (not another restaurant) so I can work towards my long-term goal of a CFP designation.

Experience:

  • 3+ years of experience as a server
  • Finance degree from a good business school
  • Former student club treasurer
  • Former summer camp counselor

Question:

  • What advice do you have for someone interested in becoming a member representative? What skills should I look to develop to succeed as a member representative, and further, as a financial planner?

Currently, I'm considering walking into each nearby branch on my list to introduce myself, ask about their experience/branch, and drop off a resume in case they begin thinking of hiring.

11 Comments
2024/05/30
07:12 UTC

2

Intro rate on HELOC with direct deposit

Hoping someone could provide guidance. I recently got a HELOC from my credit union and in order to get the introductory rate of 6.25% for one year I had to switch my paycheck from Bank of America to the credit union. However the credit union’s bill pay sucks and their Zelle and transfer limits are horrible. I would therefore like to transfer my direct deposit back to BOA but I’m not sure if the credit union will increase the interest rate if I do. I asked them directly and they weren’t able to answer me. The rep said she would call me back with an answer but never did. I don’t see anything in the T&Cs that says the direct deposit must remain in the account to maintain the intro rate. Does anyone have any insight or guidance?

8 Comments
2024/05/29
12:05 UTC

3

moving across country and switching banks

i’m moving across the country in a week and unfortunately the credit union i’ve grown to love the past two years doesn’t branch out to where i’m going . my family is urging to to stick with credit unions instead of regular banks, does anyone know if Indiana Members Credit Union is good or not ? or if there are any good credit unions around central indiana ?

5 Comments
2024/05/29
10:46 UTC

1

If I finance a car I bought on FB marketplace, will the sell get the full amount immediately from the CU or will they get it in increments(monthly payments)?

6 Comments
2024/05/26
20:01 UTC

3

Switching Credit Unions

Hello,

I'm looking at switching credit unions and using it as my primary bank. My local one has gone through through changes and is going downhill with fees all over the place. I am looking at PenFed due to Shared Branches in my area and such. Can anyone with experience with them tell me what they liked or disliked. I talked to them once and their customer service seemed good. Thanks.

7 Comments
2024/05/26
17:52 UTC

12

What’s wrong with Credit Unions?

I’m legitimately asking.

Credit Unions typically are well kept secrets that no one is trying to keep a secret about. But why don’t people bank with them? Are they missing something?

Tell me about your experience. Have you banked with a CU? Why? Do you find many obstacles in working with them? Is that due to specific niche needs you have, or an issue with the CU’s offerings?

Just curious. I’m passionate about the benefit CUs hold to communities, but where are they missing the mark for you?

21 Comments
2024/05/23
18:14 UTC

1

$200 Sign up bonus with SFCU

Hello everyone,

I've received a referral promotion code from SFCU. If you use my code and sign up with direct deposit, we each get $200!

The code: F7A2V9H

2 Comments
2024/05/23
02:21 UTC

5

Impact/Mission Measurements

This is a question directed at any credit union professionals. I am curious to know what metrics your credit union uses to measure how well it is fulfilling its mission as a cooperative nonprofit. I am working on an analytics platform focused on this but I want to make sure I don’t have any blind spots

1 Comment
2024/05/21
02:00 UTC

0

credit union and banks nit accepting coins?

I have been keeping change for years. I have atleast half of one of those christmas time popcorn buckets. my long time "financial institution" Credit Union of America Refuses to take them and they're referring me to coinstar. I have had well over $60,000 in loans through them and cds and savings on top. everything paid. How can they refuse to take my coins as US currency and send me to a place that will take a percentage out of it?

6 Comments
2024/05/21
01:45 UTC

3

Does anyone know any good card processors???

Does anyone know any good card processors. I work for a credit union and I am trying to shop around card processors. Both credit and debits. All of them that I look at are absolute shit. We currently have FIS and they are putting extra things on our bills. Over one year we are having to pay 81% more than we did a year ago.

14 Comments
2024/05/20
17:30 UTC

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