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CHARLOTTE, N.C. -- Charlotte-area credit unions have seen an increase in phone calls and new members in the last two weeks as people upset about new fees at big banks look for new places to park their money.
"It's been wonderful," said Nicol Morris, chief operating officer of the Charlotte Metro Federal Credit Union, which has about 33,000 members.
She said the credit union saw a 350 percent increase in online account creation, along with a 90 percent increase in calls.
"They are extremely fed up with the continued talk about fees, whether it's in regard to checking or the debit card fee," she said.
Charlotte-based Bank of America is one of several large banks that have launched or tested new fees.
These fees were instituted as a direct response to capping of transaction fees - however these caps only applied to large banks. The more people move to credit unions and smaller banks, the closer we will be to where we started.
Thing is these people will join a credit union but still use their ATM from Wells or wherever and pay the 2 buck fee because these credit unions don't have ATM's all over like Wells or BOA. Of course they'll still beech about it but not drive the five miles to their credit union to take out the money instead. Convenience is king in today's world of the spoiled.
What will happen is the banks will get pissed at Obama and his class warfare games and hitch their kaboose to somebody else. Obama caught in the middle right now playing both sides of the aisle. I hope more dump the big banks but unless we see huge numbers it won't really impact em a whole heckuva lot.
Thing is these people will join a credit union but still use their ATM from Wells or wherever and pay the 2 buck fee because these credit unions don't have ATM's all over like Wells or BOA. Of course they'll still beech about it but not drive the five miles to their credit union to take out the money instead. Convenience is king in today's world of the spoiled.
What will happen is the banks will get pissed at Obama and his class warfare games and hitch their kaboose to somebody else. Obama caught in the middle right now playing both sides of the aisle. I hope more dump the big banks but unless we see huge numbers it won't really impact em a whole heckuva lot.
Actually, MANY credit unions have reciprocal agreements with services like PLUS-1 like MY credit union does. I can use one of MANY different cash machines without any fee, if I chose to. Since I don't remember my pin, I use it as a credit card only at stores. Still no fee.
Thing is these people will join a credit union but still use their ATM from Wells or wherever and pay the 2 buck fee because these credit unions don't have ATM's all over like Wells or BOA. Of course they'll still beech about it but not drive the five miles to their credit union to take out the money instead. Convenience is king in today's world of the spoiled.
What will happen is the banks will get pissed at Obama and his class warfare games and hitch their kaboose to somebody else. Obama caught in the middle right now playing both sides of the aisle. I hope more dump the big banks but unless we see huge numbers it won't really impact em a whole heckuva lot.
i dont mind paying a transaction fee when i use an atm. what i DO mind is when my bank decides to enact a monthly fee just for having my debit card. i too am seriously considering dumping my current bank and joining a credit union. in fact the last time i dumped wells fargo was when they instituted a monthly fee on my checking account. i changed banks then as well.
I agree. Have done it many times. Some banks offer services that others don't. I just use mine for my debit/credit card and checking/savings account so look for the best offer to my needs. I used to bank at Wells too that was when I got my mortgage through them. After they hit us up for checking fee's we joined a local bank here in town and havn't had a problem with em since.
Thing is these people will join a credit union but still use their ATM from Wells or wherever and pay the 2 buck fee because these credit unions don't have ATM's all over like Wells or BOA. Of course they'll still beech about it but not drive the five miles to their credit union to take out the money instead. Convenience is king in today's world of the spoiled.
What will happen is the banks will get pissed at Obama and his class warfare games and hitch their kaboose to somebody else. Obama caught in the middle right now playing both sides of the aisle. I hope more dump the big banks but unless we see huge numbers it won't really impact em a whole heckuva lot.
There's a credit union ATM co-op at my credit union. So I can use any ATM in the co-op, they have a deal with 7-11 so I can use anyone of them in there for free. I'll probably still hold on to my B of A account for the time being though.
Once The FED and Obama are successful in crashing the US dollar it won't matter anymore. Everyone will be forced onto the plantation of digital money and you will be charged for the privilege of participating in the economy in any and every way. It is only a matter of time.
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