But as another lister so accurately pointed out, you are an owner of
the credit union, so you share in that "fee income". And credit
unions do indeed keep those fees to an absolute minimum since they
have to return all the "fee income" anyway. I'm not saying they're
perfect or that banks are bad, I just have found them to be much more
customer friendly and less expensive to do business with.
John Lee
At 11:09 AM 11/02/2011, Craig Lalley wrote:
>I think the key is to be diligent in monitoring your bank.
>
>Recently, I went to the ATM to withdraw monies. Due to a mistake
>on my part there was no money in the account. So without telling
>me, the credit union transferred money from my savings account and
>without telling me, charged an additional 10 dollars.
>
>To me 10 dollars is an extravagant fee considering at no time was
>the credit union at risk. This was not an overdraft it was a transfer.
>
>Had I been informed of the low balance, I would have manually
>transferred the monies with no charge.
>
>I tried to speak to the teller at the credit union. (note: tellers
>can do nothing) I then called the branch manager and explained the
>situation. The phone call ended with "Please cut a cashier's
>check in the amount of all my accounts at this institution, so I can
>walk across the street and deposit it there."
>
>4 hours later the manager called me back and explained it was the
>banks fault. The computers were down (common excuse) and the ATMs
>go into a store and forward mode.
>The manager then returned the fees, AND put a notification on my
>account. I will be notified when my account is below a certain balance.
>
>So, how many people did not question the charge? This obviously
>is a money maker for the (non-profit) credit unions.
>
>-Craig
>
>
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