Field of Membership Restrictions
Flag Credit Union is open to those who live or work in the Florida counties of Bay, Gulf, Jackson, Lee (portions) Walton, or Washington.
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Flag Credit Union
I've been using Flag Credit Union now for about five years. My other options were a commercial bank with less competitive rates. I have paid a total of 25 dollars to the credit union in five years, all of that for checks. They have paid me more interest than I could have gotten elsewhere. The customer service is very good. Tellers are consistently friendly, fast, and accurate. I haven't had one mistake. When I needed to travel outside of the country the management was helpful to allow easy atm usage abroad that was tied to my savings deposit account. I can easily deposit money in about five minutes. The fact that my work is next to them means that I can do it on a fifteen minute break. From time to time the credit union will also have events where you can get free food and things like that. Overall I have had an excellent experience and would recommend the Flag to everyone.
Flag is a decent institution
I've been a member of the Flag Credit union for approximately six years. I use them mainly for checking, savings, deposits and withdraws. I've participated in the vacation loan program in the past and wasn't pleased with it. They offered a certain higher yielding interest rate for locking up money for approximately a year. Then when the year was up, I was paid much lower than I expected. This led me to have doubts about any other higher yielding interest programs and I haven't participated in those. I was shopping for a loan recently but their rates don't seem competitive with other institutions in my location. So all in all I am generally satisfied with basic savings and checking needs, and the customer service is actually very good. However, I wouldn't use them for CD's, higher interest CD like instruments, or loans, due to inconsistency in the delivered payout and due to the higher than need be interest rates with respect to competition.
I Got Burned On A Vacation Savings Account Rate
I've been banking with Flag for about six years and have had mostly good experiences. However, the two bad experiences I've had leave me wondering if I want to stay with them any more.
The first bad experience is similar to the reviewer above me. They advertised that I could lock up my money in a CD like Vacation loan account for one year and receive something like 1.5 to 2% interest. After a year, I got nothing like that rate, so they basically lied to me.
The second bad experience, which might just be industry standard, was a check return fee. I got a bad check from someone else which I had no idea of knowing was bad and I was charged 15 dollars when it bounced. When I called them they told me it was my fault for presenting a bad check!
Don't Trust This Credit Union
They sent representatives to my granddaughters school promoting a savings account that pays 2% and a little savings bank etc which was very cute. My wife and I decided to open the savings account for her and after the account was open they said the interest rate was .2% and that the 2% was only for high school kids (why did they promote this at an elementary school then?). They charged a fee of $5 to open the account (what bank charges a fee to open a kids account) and you had to put in $100 to earn any interest. So it will take 25 years just to get the fee back. Its bait and switch marketing so find a reputable bank or credit union to work with. I called around and there are plenty of free kids accounts in Tallahassee or better yet do an online savings account that pays a good interest rate and no fees. Booo Flag CU
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