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Communications FCU Is Terminating Their Free Performance Checking ...

Thursday, December 29, 2011 - 4:24 PMCommunication Federal Credit Union - Details
Their (4%, $25K) RCA is no longer on their website; in addition, they will change their rate to (3%, $25K) by 1 January 2012 (and stricter RCA requirements) as indicated here by an Anon.:

"Received email from Communications FCU 23 November 2011 stating changes effective 1 January 2012:

Rate drop to 3.00% APY, $100.00 aggregate total purchases using debit card per cycle to qualify for rewards rate (minimum number of purchases to qualify for rewards rate remains unchanged at 12, requirement that the purchases be signature based transactions remains unchanged), cycle dates changing from start and end of month to always end on the 24th of the month and start on the 25th of the month.

Contacted the credit union by phone, they said January 2012 will be a short cycle starting 1 January 2012 and ending 24 January 2012, and that the $100.00 aggregate total debit card purchases requirement to qualify for the reward rate is a minimum, not an exact amount."

They will grandfather existing Free Performance Checking accounts; but expect more rate cuts and requirements changes, and the same bad customer service.  When there should be any account issue, may the "Force" be with you:D

Keep this thread for record:

Communications FCU is a terrbile (worst on my list) CU in terms of their customer service and resolution of account issues.  It is prudent to stay away from them unless you enjoy worst treatment and unpredictable checking APY/T&C. 

51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
1. Thursday, December 13, 2012 - 3:10 PM
Almost a year later... they are now at 2.5% interest, requiring 12 card purchases + $100 total.  Which I have met, but only to the penny ($100 total) every month for the last year.  No problems with interest payments.

I do not really think their service (at least in person) is so bad, the rate is still decent, and the online services are good.

With the Federal Reserve pushing interest rates so low, 2.5% from a bank account is actually looking pretty good.  And they have free K-cup coffee in the lobby  :D

dwkennedydwkennedy3 posts since
Jan 9, 2012
Rep Points: 13