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Old 10-25-2009, 04:27 PM
 
Location: US
1,189 posts, read 3,738,384 times
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Bankrate.com Safe & Sound (tm): Bankrate free rating system for banks, thrifts, credit unions

One of my banks, Regions, is rocking a 1 star rating. About two months ago it was at 2 stars. Bankrate.com Safe & Sound (tm) Bank, Thrift and Credit Unions rating feature

Bank of America has 3+ stars. Why didn't I hear about Regions' taking TARP money, why haven't I heard about how many branches they are closing until I started googling news articles? Has anyone else noticed their big regional banks silently tanking?
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Old 10-25-2009, 09:40 PM
 
975 posts, read 1,634,714 times
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You haven't been paying attention. I pulled all the money I had in Regions last Sept when the rumors were swirling they wouldn't get bailed out. The smaller the bank the more likely they are to fail if they have issue's. It's quite clear by now who will not be allowed to fail so having significant money in some other bank really doesn't make sense. It does suck though having to do business with a company you know is inept.
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Old 10-25-2009, 10:38 PM
 
Location: US
1,189 posts, read 3,738,384 times
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Looks like tomorrow I'll be doing some reshuffling...I don't know why I haven't sooner.
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Old 10-25-2009, 11:01 PM
 
Location: San Jose, CA
7,688 posts, read 26,987,466 times
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Citibank, 3 stars.
Chase, 3 stars.
HSBC, 3 stars.

Been thinking of consolidating all my accounts with U.S. Bank. Looking at this site, they appear to have the only 5-star rating among banks with more than $5B in assets.

IRA is with E*Trade which is 2 stars. Is the SIPC in trouble too, by the way?
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Old 10-26-2009, 04:52 PM
 
Location: Southern California
33,612 posts, read 18,603,664 times
Reputation: 55969
Quote:
Originally Posted by sonarrat View Post
Citibank, 3 stars.
Chase, 3 stars.
HSBC, 3 stars.

Been thinking of consolidating all my accounts with U.S. Bank. Looking at this site, they appear to have the only 5-star rating among banks with more than $5B in assets.

IRA is with E*Trade which is 2 stars. Is the SIPC in trouble too, by the way?
I had an account with U.S. Bank and they aren't bad. I like the fact that they have branches located inside some grocery stores that are open seven days a week. If I had to open an account with a bank, U.S. Bank would be the one. But I have since switched to a couple of local credit unions and couldn't be happier.
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Old 10-26-2009, 06:26 PM
 
Location: Great State of Texas
86,068 posts, read 77,138,503 times
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I use Credit Unions and both of mine are 3 stars. Moved all my money to CU's in 2007.
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Old 10-27-2009, 12:34 PM
 
Location: Southern California
33,612 posts, read 18,603,664 times
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Quote:
Originally Posted by HappyTexan View Post
I use Credit Unions and both of mine are 3 stars. Moved all my money to CU's in 2007.
According to the Bankrate website, my primary credit union is rated at 3 stars and my other one is rated at 2 stars. I use the 2-star rated one as a backup account.
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Old 10-27-2009, 12:38 PM
 
Location: Southern California
33,612 posts, read 18,603,664 times
Reputation: 55969
Quote:
Originally Posted by J Arp View Post
Search here:

Bankrate.com Safe & Sound (tm): Bankrate free rating system for banks, thrifts, credit unions

One of my banks, Regions, is rocking a 1 star rating. About two months ago it was at 2 stars. Bankrate.com Safe & Sound (tm) Bank, Thrift and Credit Unions rating feature

Bank of America has 3+ stars. Why didn't I hear about Regions' taking TARP money, why haven't I heard about how many branches they are closing until I started googling news articles? Has anyone else noticed their big regional banks silently tanking?
Another good website for bank and credit union ratings is Bauer Financial, found at:

Bank Ratings

Bauer Financial rates my primary credit union at 4 stars and my other one at 2 stars. I'm not sure what their rating criteria is compared with Bankrate, but they seem to be a trusted source.
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Old 10-28-2009, 05:31 PM
 
Location: US
1,189 posts, read 3,738,384 times
Reputation: 826
Quote:
Originally Posted by dennismpat View Post
Another good website for bank and credit union ratings is Bauer Financial, found at:

Bank Ratings

Bauer Financial rates my primary credit union at 4 stars and my other one at 2 stars. I'm not sure what their rating criteria is compared with Bankrate, but they seem to be a trusted source.
Huh, that site rates Regions at 3 stars. I wonder if they're behind or ahead on their information.
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Old 10-29-2009, 10:20 PM
 
Location: Southern California
33,612 posts, read 18,603,664 times
Reputation: 55969
Quote:
Originally Posted by J Arp View Post
Huh, that site rates Regions at 3 stars. I wonder if they're behind or ahead on their information.
According to both Bankrate and Bauer Financial, they are using the latest available information, which is 6/30/09. As I said before, these two sites must be using different rating criteria to come up with their respective ratings on the same financial institutions.

One more thing: Both these sites rate a regional bank out here, California National Bank, pretty low. Bankrate gives them 1 star, but Bauer Financial gives them ZERO. Guess I won't be doing business with them anytime soon.
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