[Qtip]

I think most people know that credit unions is a great place to start rebuilding your credit. Not only are they great to rebuild credit, but most of them offer better services and rates than local banks.

My favorites;

Penfed - They pull your report once and they use the same report for three months.

Patelco

Navy Federal CU "Large credit lines"

Nasa Federal CU

DCU DIgital Federal Credit Union A PITA some simes


Ad more unions on this thread and requirements.

[centex]

I'm not a big fan of the ones commonly mentioned on the credit boards. I am a firm believer in the "find one local and walk in to see them" locations. Admittedly, I had one credit union that I was a member of by virtue of my father's employment that it took about 18 years before I actually set foot in their one location. I also have another small one on the East Coast that has no brick and mortar location...they don't report their loans to the bureaus unless you default. Most on this board probably would not qualify for membership...it is a very limited demographic and has only a few hundred members. One of my banks has two branches...the other one that I am about to kick to the curb is now up to a dozen or so.

The NCUA site will let you search by city or zip code...you would probably be surprised how many credit unions exist in your locale. Support the local lenders...

[jlynn]

The only warning that should be given out, and was discussed the other day, is that credit unions tend to cross-collateralize. You have two car loans, and can't afford to pay one? They are liable to repo both.

[centex]

Originally Posted by jlynn

The only warning that should be given out, and was discussed the other day, is that credit unions tend to cross-collateralize. You have two car loans, and can't afford to pay one? They are liable to repo both.

This is why it is beneficial to have accounts with MULTIPLE credit unions

[Hedwig]

I like Penfed (Pentagon Federal) because they have pretty good rates. Anyone can join. Go to the Penfed web site and click on the link "Am I eligible to join?" If something applies, then of course click yes.

Otherwise, keep going. At the end, you'll get the message "Joining the National Military Family Association (NMFA) makes you instantly eligible to join Pentagon Federal Credit Union. Would you like to join both now?"

You can join the NMFA for $20 a year. You don't have to remain a member. Once you get your Penfed account, you're a member for life as long as you keep at least some small amount in your account.

I keep my membership there and compare rates. Sometimes Penfed is better, sometimes my local CU is better. Take the best deal.

There are Penfed offices all over the country, but they do so much business by mail and web that it's not a problem. The CSRs are very knowledgable and friendly.

[ilovemydogs]

Originally Posted by centex

I'm not a big fan of the ones commonly mentioned on the credit boards. I am a firm believer in the "find one local and walk in to see them" locations. Admittedly, I had one credit union that I was a member of by virtue of my father's employment that it took about 18 years before I actually set foot in their one location. I also have another small one on the East Coast that has no brick and mortar location...they don't report their loans to the bureaus unless you default. Most on this board probably would not qualify for membership...it is a very limited demographic and has only a few hundred members. One of my banks has two branches...the other one that I am about to kick to the curb is now up to a dozen or so.

The NCUA site will let you search by city or zip code...you would probably be surprised how many credit unions exist in your locale. Support the local lenders...

All my shopping anf banking are with locals.

I believe it is a good thing to be able to walk into a bank and they know your name and you do not have to pull out all the ID's to get money out or to write a check.

ILMD

[Qtip]

Originally Posted by centex

I'm not a big fan of the ones commonly mentioned on the credit boards. I am a firm believer in the "find one local and walk in to see them" locations. Admittedly, I had one credit union that I was a member of by virtue of my father's employment that it took about 18 years before I actually set foot in their one location. I also have another small one on the East Coast that has no brick and mortar location...they don't report their loans to the bureaus unless you default. Most on this board probably would not qualify for membership...it is a very limited demographic and has only a few hundred members. One of my banks has two branches...the other one that I am about to kick to the curb is now up to a dozen or so.

The NCUA site will let you search by city or zip code...you would probably be surprised how many credit unions exist in your locale. Support the local lenders...

Originally Posted by ilovemydogs

All my shopping anf banking are with locals.

I believe it is a good thing to be able to walk into a bank and they know your name and you do not have to pull out all the ID's to get money out or to write a check.

ILMD

You know, I never had any luck with local CU's They have always sucked for me.

[roybean]

They haven't done me any good either Q.

[ilovemydogs]

Originally Posted by roybean

They haven't done me any good either Q.

Intersting that this happened to both of you.
The people I know that have done business with the CU's here are very satisfied, as it least the CU stayed small instead of belonging to a huge chain.

ILMD

[roybean]

All I know is that people tell me that they'll do this and that and they didn't do squat for me. I think it was Paleco that someone put up on AOC and they told me that I could have a savings with restrictions such as 10 or 20 day hold on all deposits, no checking, etc. It was a list of stuff and I said 'no thanks.' And I don't have any bad check writing problems.

[jlynn]

They just don't like you Roy.

[roybean]

Originally Posted by jlynn

They just don't like you Roy.

I guess I am not special or something.

[ilovemydogs]

Originally Posted by roybean

All I know is that people tell me that they'll do this and that and they didn't do squat for me. I think it was Paleco that someone put up on AOC and they told me that I could have a savings with restrictions such as 10 or 20 day hold on all deposits, no checking, etc. It was a list of stuff and I said 'no thanks.' And I don't have any bad check writing problems.

That hold thing can be bothersome.

I used to belong to a bank that NEVER put a hold on any deposit unless it was over $10,000 and then it might be only for one day.

Now Bank Of America has taken over and I had not rad the updated agreement and did a depost for a bit over $5,000 and the money was put on hold for upwards of ONE WEEK!

I flipped, as I had small checks coming in all around and thankfully the VP called me up and told me what was happening as they were paying them but I was being charged a fee.

So now because I have known the VP for a long time when I make a big deposit he over rides the deposit and I get use of my money that day or the next day.

ILMD

[jlynn]

Yeah, I quit B of A for that very reason. We were cruising along for years, with large direct deposits coming in and me making same day large withdrawals. Then all of a sudden they tried to put a hold on them. I packed my bags and moved that day.

I went over to Southtrust, but this was when they were small and local. Wachovia has taken them over - so the jury is still out. So far I've had no problems, even though funds are coming in internationally.

We have two banks in my town. They both wanted to charge me $25 per incoming international wire. I told them straight up, it would be cheaper in the long run for me to keep banking in Dallas where incomings were free...I very seldom ever have to go into a bank. In the last 3 years, I've been in mine about two times.

When I need cash, I use a local ATM, and Wachovia refunds me the fee.

[ilovemydogs]

Originally Posted by jlynn

Yeah, I quit B of A for that very reason. We were cruising along for years, with large direct deposits coming in and me making same day large withdrawals. Then all of a sudden they tried to put a hold on them. I packed my bags and moved that day.

I went over to Southtrust, but this was when they were small and local. Wachovia has taken them over - so the jury is still out. So far I've had no problems, even though funds are coming in internationally.

We have two banks in my town. They both wanted to charge me $25 per incoming international wire. I told them straight up, it would be cheaper in the long run for me to keep banking in Dallas where incomings were free...I very seldom ever have to go into a bank. In the last 3 years, I've been in mine about two times.

When I need cash, I use a local ATM, and Wachovia refunds me the fee.

I am keeping BoA at least until the NEw Year.
Then and especially if the VP leaves I am gone too, as I need the cash flow and cannot wait a week or more for my money.

ILMD

[Mark]

Originally Posted by Qtip

I think most people know that credit unions is a great place to start rebuilding your credit. Not only are they great to rebuild credit, but most of them offer better services and rates than local banks.

My favorites;

Penfed - They pull your report once and they use the same report for three months.

Patelco

Navy Federal CU "Large credit lines"

Nasa Federal CU

DCU DIgital Federal Credit Union A PITA some simes


Ad more unions on this thread and requirements.

Thank's for useful information!!!!! I've never haerd before about credit unions! Should i pay to become a member?

[Ohio Boy]

CCCU has been really good to many people. They seem to give people a fresh start and have great BT rates etc.

Christain Community Credit Union

Very personal and helped me when no one else would get started.

If I remember correctly they pulled TU which is rare.

[Hedwig]

Thanks. I've never heard of them, but I may check them out.

It depends where you live whether pulling TU is rare or not. I understand it's pulled more on the west coast. Where is CCCU headquartered?

[Ohio Boy]

Based in California.

They are awesome to work with. They pulled TU for me in Ohio.

Great BT rates, car rates etc.

Your right I just read they pulled EXP for many people.

[Enigma]

Originally Posted by Ohio Boy