What the banks dont want you to know

I've know about the Credit Unions for a long time, you have to be accepted first but it isn't that difficult.

My problem with the Credit Unions is I think it's more of the same..Kinda like Voting Democrat or Republican.

When SHTF it won't matter where your money is because it'll be worthless, They'll print and give the banks all the money in the world to pay us off but we won't be able to afford much of anything if Hyper Inflation Hits.

The trick is spend your money now while it still has Value on things to make it through the coming crash/war/whatever.

reply to post by juniperberry


Sorry to hear that. I'm surprised that credit unions would be in league with one another.
I'm not familiar with Canadian banking and credit unions, so I'll have to take your word for it.
As long as it's working for you and are willing to change institutions at the first signs of theft and corruption, you're going to be alright.

Credit union, pfffft.

If you dont have a golden credit score and want a loan. Forget it.
If you miss a payment, you're done, for like 5 years.
Where i live, the fees are abnormally high for ATM, bounce, whatever.
They are open like 8 hours a week, are rude with their employees, they literally acting like a big bank.
But once again, like a previous poster i'm in Canada. where everything is overprice.. because its colder i guess ..

reply to post by NewsWorthy


I hear what you're saying, but credit unions are more small business friendly. My credit union just stated that they support the SBA (Small Business Association). We need more financial institutions that support small business. It seems as though all the greedy corporate companies are with large banking cartels.

Originally posted by juniperberry
reply to post by Afterthought

 

Like I added in my post, I am in Canada so our regulations are obviously different, but I switched to the Canadian Imperial Bank of Commerce (CIBC) from a credit union.

I suspect what happens with any institution, is that if you've been with them for a fair number of years, they start to get complacent and feel quite willing to turn people down for money. I mean, most people don't bother changing banks all that often right? So I suspect that the CU didn't think I'd go elsewhere and just "suck it up" because it does cost money to change banks and most people won't do it.

And where I am, we only have really 3 choices for credit unions. And they're all in league..

Edit to add: Oh and I have to add this. My credit union does give "shares" but over 15 years I went from a $25 buy-in up to a $45 share in the bank. That's an increase of $20. Yay.
CIBC is giving me $100 a year so long as I maintain 3 banking items (checking, savings, credit card, whatever). That pretty much covers my bank fees... Yayer!!

edit on 2011/10/6 by juniperberry because: more info

honestly, from what you have told this is what i think.
finance is no simple matter, some banks and credit unions offer services that better suit some people and really should be used by others.
its almost impossible to work your way through the information but there are credit unions that would help you and they would be better then the banks. and credit unions also make this system of finding a lendor easier becase they dont use all the mumbojumbo banks do to suck you in.

anyway do you really want your money going to a ceo for doing absoultley nothing?

banks sell you a product, credit unions offer you a service

reply to post by UniverSoul


Yes, that's what I meant.
Thanks for catching my error. I meant that some credit unions are operated by large banks.

Originally posted by NewsWorthy
I've know about the Credit Unions for a long time, you have to be accepted first but it isn't that difficult.

My problem with the Credit Unions is I think it's more of the same..Kinda like Voting Democrat or Republican.

When SHTF it won't matter where your money is because it'll be worthless, They'll print and give the banks all the money in the world to pay us off but we won't be able to afford much of anything if Hyper Inflation Hits.

The trick is spend your money now while it still has Value on things to make it through the coming crash/war/whatever.

in recent years the process to join most credit unions has become almost avalaibe to all.

i see what your saying but they are in two different leagues. banks are mainsteam parties and credit unions are indipendents

my point for this thread is that if enough people leave their banks
s might not just hit the fan
many of us know the power banks have and they are behind the economic downfall
but if we arent giving them money, well then we might just have saved humainty.

Originally posted by eagleeye2
Credit union, pfffft.

If you dont have a golden credit score and want a loan. Forget it.
If you miss a payment, you're done, for like 5 years.
Where i live, the fees are abnormally high for ATM, bounce, whatever.
They are open like 8 hours a week, are rude with their employees, they literally acting like a big bank.
But once again, like a previous poster i'm in Canada. where everything is overprice.. because its colder i guess ..

once again most credit unions are opening their doors to almost anyone these days..
its not that bad, they have more tollerance to missing payments then banks

i dont know what its like in canada but clearly it may not be as good over there..
but i would suspect you have a lot less people in credit unions
if we get enough people in the credit unions, we would get rid of these problems
most credit unions offer special atm's that dont fee you.
ive never met one person who has said anything bad about customer service at a credit union. but even so they are just workers and still have the procedure avaliable to help you out
and could they really be worse then dealing with the banks?

Average bank CEO salaries:
www.news.com.au... 8

money.cnn.com...

www.smh.com.au...

www.heraldsun.com.au...

Remember these people dont do anything.
All this money could be going to YOU.

Originally posted by UniverSoul

and could they really be worse then dealing with the banks?

[everything I say is based on the Canadian banks and not the ones from the US. I suspect the EU banks are different yet again.]

They're not worse up here.. they're just not any better.. or different.

CUs offer products like any other bank and since I do almost all transactions online, service isn't that important to me. One main difference I saw is that I could open an RRSP GIC account online and transfer money in at midnight (receipts for taxes and reference paperwork follows in the mail later) whereas I can't do that with my old credit union. That is important to me.

CUs seem to be governed by the same rules as regular banks.

And as for getting money back, I seem to get more back from my new bank than I ever received from the credit union.

I'm not saying that people shouldn't go to credit unions, I'm just stating that they are not necessarily the solution to the banking problems.. perhaps they are in the US but you can't say it will cure the world's problems..

Originally posted by Afterthought
Here is a list of all the banks that have gone belly up since 2005:
www.fdic.gov...

Here is a list of all the credit unions that have failed so far:
www.ncua.gov...

What a difference!
The most glaring detail is that NO credit unions have failed this year!

Those banks that failed are mostly smaller local banks.

What is truly key is the failed banks that are still around like Bank of America. The zombie banks are out to eat our brains and with their political backing, credit unions won't be safe.

Originally posted by juniperberry

Originally posted by UniverSoul

and could they really be worse then dealing with the banks?

[everything I say is based on the Canadian banks and not the ones from the US. I suspect the EU banks are different yet again.]

They're not worse up here.. they're just not any better.. or different.

CUs offer products like any other bank and since I do almost all transactions online, service isn't that important to me. One main difference I saw is that I could open an RRSP GIC account online and transfer money in at midnight (receipts for taxes and reference paperwork follows in the mail later) whereas I can't do that with my old credit union. That is important to me.

CUs seem to be governed by the same rules as regular banks.

And as for getting money back, I seem to get more back from my new bank than I ever received from the credit union.

I'm not saying that people shouldn't go to credit unions, I'm just stating that they are not necessarily the solution to the banking problems.. perhaps they are in the US but you can't say it will cure the world's problems..

well i would continue to argue that they are much better simply for the fact that no one is making super profits..

most credit unions are getting with it now and offer you all the services that banks do. but once again if we get more people in them they wouldnt have these problems

they are, because the rules are important..but they use the rules to your advantage.

money back would be a case by case thing but credit unions often offer you substantial/long term benefits while banks can offer more gimick style benefits

When you put your cash in the Bank.
do you remember signing a document.
saying they can take risks with your money?
so why do they make you lose out when they take risks with your money?
they dont tell you the risks. they tell you nothing.
if you have lost money this way. was there any thing to tell you about risks.
and that you could lose all your money?
and when they MAKE lots of money why dont the tell you?
and give you a share of it?
they are very quick to make you pay for any loses they make.
a good lawyer needs to look into this.
you take the loses but not the gains!!!

is I put a lot of money in a bank.
I would think it is safe. but now I see they are BETTING
with the money I have saved up.......
what they are doing is illegal.
but would you put your money in a bank.
when they tell you it is a risk account?

If I win the euro lottery.
I will start a true bank. No risk at all.
but you dont get any interest.
but you will NO lose any money in a resection.
and have a risk account. that is used to lend peoples money.
so if some one buys a house. I lend them the money.
even if they can not pay it reduced to half payments.
there is NO loss. I (as a bank) just make money slower.
if they can not pay any thing at all.
I Still have a house! and I can sell it. or RENT it.
and the Rent would be more than the payments I would have got.
so tell me. Why do the Banks tell us they have lost Lots of money?
they are lying. it is Only Lost Profit. they have Lost Nothing.
if you read all this thank you.

I have been a member of a local Credit Union for 20 years now, and I do not regret one single minute of my time with them.

In my past I was with Barnett Bank (no longer around), Sun Bank (no longer around) and then Bank of America for a brief 2 year period. Bank of America was by far the worse bank I ever did business with, which led me to my local Credit Union. Thank you Bank of America for sucking so bad!

I've been using a credit union for many years now, and you're right; you can't beat them. One other thing that many don't know about, but unfortunately also can do nothing about is electrical coops. If you're not on one now, you never will be in your current home, but in rural America they're all over. In a coop, you are a share holding member so to speak, but I don't know exactly how it works. When my father died, my brother and I received a check for $3800.00 when we closed his account. This helped a great deal in paying his final expenses.

Credit Union member since the late 1960's. Savings, checking, loans, mortages, student loan etc.

I have my money in the Buffalo Cooperative Federal Credit Union . They're so cool, they know each member by name, and they're really personable. It's kind of like they're family in a strange way. It's nice because you know everyone working there since it's so small, so you can trust them pretty easily.

The only ish is a lot of the members are kind of weird. Like hippie types that don't shower for some reason. Or just really weird people that give funky vibes, like they're deceitful or something. When I was at a bank I didn't really get that, it seemed like more regular people. Families that sort of stuff. But for some reason the Credit Unions attract all the weirdos. HAHA!

Originally posted by Xaberz
The only ish is a lot of the members are kind of weird. Like hippie types that don't shower for some reason. Or just really weird people that give funky vibes, like they're deceitful or something. When I was at a bank I didn't really get that, it seemed like more regular people. Families that sort of stuff. But for some reason the Credit Unions attract all the weirdos. HAHA!

that tells you a lot more then you might think.. this just shows you that 'regular' people are brainwashed and materialistic. ive come to think that the bank and credit union situation is the ultimate logical proof for brainwashing and how much control they actually have over us. these people could go to a credit union, get a better deal be happy and not give one cent to some fat cat who does nothing. except they dont even know about the other options, they dont even care
that is brainwashing!

although here in australia, everyone ive seen at my branch seems perfectly normal..
i dont know if your eric cartman but whats wrong with hippies?
id perfer to be around a hippie then some tight arse in a suit

Originally posted by LazloFarnsworth
Credit Union member since the late 1960's. Savings, checking, loans, mortages, student loan etc.

the proof is in the pudding, ive never met someone with something bad to say about cu's..and only 1 person on this thread (imagine if we were talking about the banks, no one would say something nice)

can i ask you, have you seen much change over the years as perhaps your credit union got bigger or has anything changed?

I've only ever been a member of a Credit Union, and will never be part of a bank. In fact, my grandpa helped start a large Credit Union here in Utah and surrounding states. They aren't perfect either... but they sure don't have the problems banks do. I've had an account since I was 15 with my credit union, and have always been happy.

The only time I ever hated the loans or experiences I had when dealing with money, are when they were with banks. Wells Fargo was by FAR the worst I have ever dealt with, hands down.