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Has Anyone Left A Credit Union, Then Tried To Re-Join It Later?

racecar
  |     |   633 posts since 2014

Has anyone here ever left a credit union (on good terms) then tried to rejoin it again at a later date? If so, were you successful in doing so?

I've opened up accounts at so many credit unions over the years, it's now gotten to the point where I should probably give up some. My general rule has been to keep the accounts open even when there aren't great deals anymore, since you never know when one will come again, and I've set up automated ACHs to avoid inactivity fees, but so many have piled up, it's getting to be a bit much, especially as I keep adding new ones every year.

In my life I've left 4 CUs: 2 when their offerings stopped being good (before I started "hanging on" to them), plus one that was about to be taken over by a terrible CU, and one where I knew I'd never use them again due to policies like a mandatory hard pull for each CD even if you're already a member.

Other than those, I've kept all my CU accounts as the pile continues to grow.

But even with automated ACHs it's getting a bit much. I'd like to quit those I think will never amount to much again, but would I be able to rejoin them if the need arose? I'd think it wouldn't be an issue at most places, would it? I mean, what if someone was "transferred overseas" say, and having an account there didn't make sense anymore, so you left. Then you came back and wanted to rejoin. Would a CU have a problem with someone wanting to rejoin if they left on good terms?

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txFish1
  |     |   480 posts since 2023
racecar, I had an account at Credit Union of Texas years ago as they always had some good Share Certificate rates and the lowest auto loan rates around. About 4 or 5 years ago they had not had any decent CD rates in quite a while and I did not have any need for auto loans so I closed my account with them. Well last year they had a CD promo where they would beat any local CD rate in their member service area by 10 basis points. Advancial FCU had a 5.40% 5 year CD so I opened up a new account and got a 5.5% 5 year CD and there was no problem letting me rejoin.
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Anonymous555
  |     |   4 posts since 2020
Yes, you absolutely can. I had an auto loan at a local credit union I bought many, many, many years agfo. I got the loan through the dealership and the dealership signed me up for membership with them. When I paid off the loan I ended up closing the membership altogether. Now recently I bought a new car and was shopping for auto loan rates, I ended up going with that same credit union and opened a new membership with them, no issues at all. The loan officer helping me was delighted when I told her I had a good experience with my previous auto loan and happy to see me come back.

Over on DoctorofCredit.com where people religiously chase new checking account bonuses, lots of people there open accounts for the new customer bonus, close the account then years later rejoin again for a different bonus.
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decades
  |     |   124 posts since 2010
It gets out of hand after you been doing this for a long time. Each cycle seems to have new rate leaders. Started to cull the herd last summer. DCU, PSECU, Brio Direct, Northern Bank Direct, Pentagon, ConneXus, Achieva, Ag fed, Sharonview. My e-mail got hacked a few months ago. Got it straightened out quickly but was unnerving. Had to change all my passwords everywhere.
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JINAYAKO
  |     |   26 posts since 2022
What are you afraid of, if I may ask you. REMEMBER CASH IS KING. It is because you have money that they need you. WHY? Because it is your money that they are able to lend to others so they can make money. Many Credit unions go throught a DROUGHT Period. Now remember, out of sight = Out of mind. as the saying goes. Just to keep you as a member, it is their job to see that they do things by giving you a good CD RATE.Otherwish, the Credit Union becomes a FORGOTTEN Institution. So Go Ahead ,and CLEAN-UP your Accounting Books. If you are a senior and if you die, your money will either be EATEN-UP OR the good Credit Unions will pass on that residual account to the state.Hence, you have to take care of your money, in the best way as you can, Hence keep your account open and going until you get tired of waiting for the credit union to wake-up.
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