How Many Cus Do YOU Belong To?

senda
  |     |   24 posts since 2015

For a change of pace, a simple lighthearted question. Unlike a bank, you have to "join" a credit union. DA readers are typically rate chasers, so I'd think many would belong to multiple credit unions. Or is it just me who's crazy like this?

So...

(a) How many Credit Unions do you belong to in total?

(b) At how many of those do you currently have something OTHER than the required primary savings acct (a CD, credit card, etc), versus just the required primary savings account?

(c) Did you leave any credit unions?

My answer:

(a) 18 total currently (14+4)

(b) Currently, at 14 of them I have things like CDs, credit cards, etc... and 4 of them nothing but the required primary savings account right now.

(c) I left two CUs voluntarily (otherwise would've been 20 total). Left one when the product I had with them changed (I suppose I could've stayed)... and the other (a small work-related one) when they merged with another CU and suddenly started charging fees for everything with terrible rates. I knew I'd never use them anymore, so I left.

And it actually would've been one more total that I belonged to... but a few years ago a smaller one I belonged to was taken over by a larger one I belonged to!



Answers
corby
  |     |   1 posts since 2017
Was in the Peace Corps in Ecuador....For 2 years we helped establish CU's throughout the country....what saved the USA in the 30's has given some banking footing to South America.....now belong to 8 CUs here...........
blakeb
  |     |   85 posts since 2016
(a) a member of 10 now
(b) have active CDs at 3, just savings at other 7
(c) left one when I got charged a new monthly fee

any tips on keeping an eye accounts at those CUs where you are just waiting for the next CD deal? often don't log in for months in many of them.
garyh1961
  |     |   413 posts since 2017
Use a excel file
Jack11
  |     |   245 posts since 2019
I use mint for all my financial accounts. It actually notified me of an overdraft at one where a small mistaken charge hit my account. They paid it and charged me the fee. Except I did not authorize it.

Because I don't like to deal with and its a pain scanning & printing & stuff, I just had them have everything ready at the drive thru and I drove down there and signed and they removed the charges.

I followed up with the collection agency. The front line collectors did not have a clue but a VP or something looked into it and apparently, someone with an account at that credit union transposed a number either on purpose or accidently.

And interestingly, a month or two ago that CU was having problems updating so I removed it from mint. I guess I should add it back. But thats one where I only keep the $5 minimum. They used to have an RCA that I used but its no longer a deal. I only kept it open because its local and during the start of pandemic, the other CU would not accept shared branch transactions. That credit union did and they did it via the drive thru too. They just stopped that yesterday as I stopped by with a check for a shared branch transaction.

I have always gotten CUs to waive any accidental fees I happen to incur. Because its very, very rare and they can see that.
h_meister
  |     |   20 posts since 2014
Currently belong to 18 CUs with five relationships having accounts beyond SV/CD.
I tend to keep my CU relationships because of the amount or work to establish them, especially out of state. That said, I've ended six CU relationships over the past 20 years (one acquisition, one going into conservatorship as CD matured and four whose rates hadn't been competitive for awhile but I can easily rejoin.
Jack11
  |     |   245 posts since 2019
I am a member of 8. 2 and soon to be 3 will have nothing except the minimum. (on 3/5)

I left one long ago... I think.

The one I use the most and is closest to home I am not a member of. They don't have a single competitive product.
maximizer
  |     |   5 posts since 2015
I belong to 11. I've joined for the rates on Rewards checking and other high-interest liquid accounts as well as CDs. At 7 I have active accounts of these types, but some CDs are maturing soon and unless the CUs offer good rates I won't be keeping any money there, so will probably have active accts at only 4 soon. But I won't quit a CU if they've traditionally they've had good CD rates. I've left a 2 or 3 CUs in the past because of their failure to maintain acceptable rates. I rely almost solely on interest for income in retirement; am too risk-averse to invest much that is not secure. Part of the reason for joining several CUs is also the need to spread out the NCUA insurance. I also find the customer service much better than at banks, large or small.
hank
  |     |   94 posts since 2016
a) 15 b)11, 4 just have savings c) have left at least 2 who rarely had good rates but they did at least once
Rickny
  |     |   95 posts since 2017
I have accounts at 8 credit unions with active accounts. Closed my Northwest CU accounts last year. I only have a grandfathered 5% Cashback on gas credit card with Penfed and no longer have any CDs since my 10 year 5% CD matured. The good old days when Penfed was a CD rate leader are long gone.


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