I’m earning 2.5% in checking and paying less than that on my UICCU car loan. I have never been to a bank or credit union that prices things more aggressively, from CDs to Money Markets to Mortgage Loans. Not only that, when they send out the updated fee schedule each year, they actually include advice on how to avoid paying fees. Who else does that? I think it’s the best banking experience in Iowa.
I've been with UICCU ever since I was in school at the University back in '03. The rate on the Rewards Checking has been great, usually the highest I can find anywhere, and I don't feel that what they ask to get the rate is unreasonable. The paperless statements are also less hassle, and the direct deposit was something I wanted anyway. I have been burned by the slow posting transactions before as well, but was given the interest after explaining the situation. The second time, it was simply because I had forgotten to use the card enough times, and I can hardly blame that on them (although I was unaware of the $5 minimum average). I've been MORE than happy with the service that I've received as a customer and have kept my money at UICCU despite the fact that I no longer even live in Iowa City.
5* for still one of the best rates; 0* for innumberable hoops that they make you jump through to get it. Like one other poster, I got burned the first time for late posting of one transaction (they grudgingly made good on the interest that month); the second time I got burned because of one small Debit Card charge; I had 12 ATM Debits > $5 but I didn't realize that the 13th transaction, being of small amount, brought the average of 13 ATM Debit transactions down below $5 ($4.98) (I would have made it if I had done only the twelve transactions!). For crying out loud, I have a Phd in CSE but I cannot keep up with these horrendous requirements and this slow learning-by-getting-burned every month. I may not be able to pull my money out immediately due to their CD bonus rate but this is definitely a royal PITA. The first chance I get I am moving my money out!
UICCU sums up everything that is wrong with modern banking. Their lack of service, constant greed, and anti-customer policies make it a nightmare to do business here. I've had bank accounts with close to a dozen different banks---including the national ones---and this has by far been my worst experience.
1) Greed is all that motivates UICCU. If they can find a way to charge you a fee, they will. UICCU cares only about making money, not about customer welfare.
Under my plan, I'm charged a fee everytime I use my card as debit and whenever I use a non-UICCU ATM. This is a problem since the credit union shut down almost all of its direct campus ATMs, meaning that you either get stuck with the fee or effectively have no ATM access.
Once I misplaced my checkbook and asked them for one temporary check. They printed it off. I thought it was awfully nice of them and then I saw a charge against my account for a few dollars.
UICCU will kick customers when they're already down. When my card was lost/stolen, I was told that I'd be charged $15-20 for a replacement. Even the mega-banks like Chase have never imposed that kind of fee on me. The worst part is that my replacement card never showed up. That was a sign that I needed to bank elsewhere.
2) UICCU employs hyper-aggressive, deceptive sales tactics. Also aimed at earning them money to your detriment.
For several weeks, everytime I came in, I was bombarded with sales pitches about their new credit card. I told them every time that I was not interested and that I probably wouldn't qualify anyway (as a student with low income). They persisted in asking me for weeks after that. Finally my resolve broke down and I asked for more information. I explained my situation to the banker, that I had only RA-income and income from a small business that was a few months old. He assured me that I qualified and would receive the new loan, so I went ahead and signed on the dotted line. Days later he told me that there was a problem with my application, since I didn't have enough year-round income (which I already warned him about). I sincerely tried to follow up and get the application through but received no response. I did nothing but waste my time and injure my credit score by giving UICCU a fair chance.
The bottom line is this---don't bank with UICCU. There are few incentives and you do so at your own peril. If you roll the dice and bank at a random credit union, you almost certainly be happier. It does not get worse than this.
I've had a decent experience with the University of Iowa Credit Union. As a local of Iowa City, and as a student, my choices are limited in credit unions, however I am happy with this one. Going into their offices, I've always had great experiences. All of the employees are friendly and very helpful. The only reason that my rating is not a perfect rating is their lack of a mobile interface, and some of the interactions have been kind of slow over the internet. Besides that, I would recommend this credit union to somebody else.
Two days and still no reply to a email. Not the first time there has been issues. I asked for contact information for the President /CEO/HPIC almost 4 months ago with a reply from the csr asking if they could do anything ---THEY are the reason I asked for the contact information. Apparently they can NOT do anything.
A week ago I used UICC's outside ATM to deposit a check thinking that my account would be ok . Then after reviewing my account online I found that they withdrew my check because they said a check wasnt in the envelope. My fiancee and I clearly put the check into the envelope and sealed it shut and wrote in red ink. Between their atm machine and the employees recieving the envelope the check was lost and now im out x amount of dollars (shaking my head). NEVER use their atm machines to deposit anything !!!
I have had the rewards checking account shortly after the credit union introduced it. It has been a wonderful account. Staff explained the features of this product in great detail, inlcuding the posting of the minimum of 12 "credit" transactions each month. If you truly use this account as your primary checking account, there is no reason you can't meet the minimum number of transactions. The rates have continued to be very competitive. I have been very satisfied with this account. They must be doing something right to be the #1 credit union in the US in member giveback, thank you!
While the rates are seemingly good, I have never had to jump so many hoops. Additionally, the service representative on the phone was snotty and rude when explaining all the stipulations. The home banking website is not user-friendly. I can use it to get what I need done, but it is no comparison to other home banking websites. I will be moving my money out of this bank as soon as possible. The rates aren't worth the service. I just wish I wouldn't have moved my direct deposit yet.
We got a good rate on our mortgage but every month they take money out of my husbands checking acct they never know how to seperate the moneys for the 1st and 2nd mortgage. We've been with these guys for 1 1/2 yrs and we've had to deal with it so much. My husband has to directly go to the office just to argue with them about YES I did pay my 2nd mortgage. Grr...it's so frusterating they can't figure it out. Also, they aren't customer service orientated either.
I had a car loan with U of I CCC, and after paying on it over a year, hadn't even touched on the principal amount. They had added their own insurance, even though I had faxed my proof of insurance several times. Once I caught the problem they owed me over $3000 plus interest. Without me finding the problem, they would have gotten an extra $3000 + from me. I'm not impressed.
I have had my check direct deposited for a year at this poor excuse for a credit union. Multiple times I have had money in my account and use my credit card and all of a sudden my card would be randomly denied. I went online and looked and had plenty of money to cover the charge in my account. You will also get charged for transferring money after your third transaction of the month. DON'T JOIN, THEY WILL JUST KEEP TAKING MONEY FROM YOU!
Their Savings account is definitely the best in market, and I can't think of any other place where I can earn more on my account. This credit union prices things more aggressively, from CDs to Money Markets to Mortgage Loans. Not only that, when they send out the updated fee schedule each year, they actually include advice on how to avoid paying fees. I've been a member for 20 plus years and love what they do for me and the community.
I've had a very good experience with the University of Iowa Credit Union. As a local of Iowa City, and as a business person, my choices are not limited to credit unions, however I am happy with this one. Going into their offices, I've always had great customer service experiences. All of the employees are friendly and very helpful. This is the best I have ever had and their mobile banking is also very nice.