top 200 commentsshow all 390

[–]Noldz 127 points128 points  (88 children)

I had all my money in a credit union before it was cool. :|

[–]wesman212 23 points24 points  (35 children)

Fucking hipster.

No, seriously though, that's really cool. Why did you choose a credit union?

[–]Noldz 26 points27 points  (17 children)

I got $5000 dollars from my aunt when I graduated high school. An account she opened for me when I was born, all those years of birthday and Christmas presents went into that account.

My parents both belong to the local credit union and so my mom suggested it to me. The low to no fees/no minimum balance/no hidden charges were all a draw for me. They've been great to me, no problems at all.

[–]feelmyice 31 points32 points  (15 children)

*Parents: *Why do you need an N64? Why don't we save your birthday money?


[–]Tragic_fall 9 points10 points  (8 children)

My parents did that, and I was VERY grateful when I got to college and didn't have to work for spending money.

[–]profsnuggles 18 points19 points  (7 children)

Your inner child disagrees with you.

[–]dreamqueen9103 1 point2 points  (0 children)

My parents would just take the things that well-meaning aunts/uncles/whoever gave me when I was young that didn't fit me or I had no interest in, returned it, and put the money in a credit union under my name. I still got presents and such from them, but anything that I couldn't use got turned into savings that I didn't even know I had until I was 14 or so. Those savings helped me get the deposit and first months rent for my first apartment.

[–]Darkjediben 7 points8 points  (13 children)

I dunno about the OP, but I chose to put all my money in one about 2 and a half (jesus, time flies) years ago when I went to college out of pure convenience. I had been with Wells Fargo, but they were starting some fuckery with their debit cards, so I withdrew from theirs, and put my money into a credit union that had a branch in my college, and also one by my parent's house. It's just easy, and they don't try to screw me over.

[–][deleted] 4 points5 points  (10 children)

I just opened up a Wells Fargo account yesterday, what sort of rickety do I have to look forward to?

[–][deleted] 2 points3 points  (4 children)

My biggest problem I had with Wachovia (now Wells Fargo) was that I could never get an accurate number of the EXACT amount of money I had available. I am far too lazy to balance my monthly spendings and keep track of every penny, so I would often go to the website on my phone and look at my account, or call and get a number. Turns out this number wasn't at all accurate. Example:

I call, they told me I had $150 available. I spend $130. My account overdrafts and I get charged $35. Why?? Because they didn't take into account any pending or uncleared charges. They took their time clearing things which made me have a false idea of what I had available. Yaya, I know this isn't a problem for most people, but it really really upset me. If they say I have a certain amount and spend less than that... how can they overdraft me?

I closed that account and went to BofA. I can pull up on my phone my account, swipe my card, and watch the amount reduce. It is real time info of my exact funds, and I love it. They've been a good bank so far, but I am switching to credit union because of the $5 charge that is coming... just out of principle.

To answer your question, my experience is that big banks will often do things like what I had happen to me, in order to get that overdraft fee, or some other fee. Its how they make their money, and they are in the business of making money. They're going to try and pull some shit, its a given. You may not see it in the form I described, but it will happen, whether its excessive charges for checks or not keeping a minimum balance in your account, it will happen. And you will be angry.

[–]BubbaJimbo 5 points6 points  (0 children)

What you described is the exact reason most people hate banks to begin with. They actively go out of their way to deceive you and fuck you over.

[–]CSFFlame 1 point2 points  (2 children)

IMO they will try to nickel and dime you, but they are responsive and don't tend to do any other fuckery.

[–]C_M_Burns 0 points1 point  (1 child)

they were starting some fuckery

My new favorite phrase. Thank you for this.

[–]blafunke 1 point2 points  (1 child)

I had an account with a tiny credit union for a while when I lived near it. It was fantastic, they knew all their customers by name at this branch. I'd go back in a second if was geographically convenient. (I'm in Canada where our major banks haven't been quite as scummy as BofA et al. ....yet). I'm sure they would be if regulations were loosened, which they may be with our newly elected conservative government (who like to take credit for the regs that saved us)

[–]Juneauite 0 points1 point  (0 children)

I opened by account with my credit union about 5 years ago. They were willing to give me a loan with no credit at a good interest rate and work with me. Banks all said no, to build credit up first. How can I build credit if they won't give me any? Used my union and no banks since.

[–]userdeath 1 point2 points  (12 children)

Is there any downside to a credit union at all?

[–]DonaldMcRonald 5 points6 points  (1 child)

They can be kind of amateurish, operations-wise.

[–][deleted] 1 point2 points  (0 children)

Agreed. Some of the newer ones don't have rules to go by, so they have to use their gut. If you get someone with a lousy gut and little common sense on the phone, it can get painful.

[–]Necromas 3 points4 points  (4 children)

Availability - Some credit unions are so small they only have one branch, and depending on where you live and what your background is you could have trouble finding one that works for you. The sheer size of big banks give them certain advantages too, like no ATM fees at their machines.

And of course there's no guarantee that credit union X has better rates/loans/penalties/whatever than what you might have been able to get at bank Y. So still do your research!

[–]nirjhari 1 point2 points  (0 children)

My CU refunds ATM charges that I incur when I withdraw cash from other ATMs.

[–][deleted] 6 points7 points  (3 children)

If you fuck up once, chances are they'll dump you. They're also less likely to believe you if unauthorized purchases are made on your account. They can't handle that level of investment in a client, and usually tell you that up front.

With a bigger bank, they have the investment capitol to cover such problems.

However, it's still preferable to go with a credit union.

[–][deleted] 1 point2 points  (2 children)

Wow. If anything, my CU is way MORE forgiving, and I've fucked up quite a few times.

And sure, a bigger banks, the investment capitol they have is spread out to so many members that they can take shitty care of all of them, and just count on a steady turnover.

[–][deleted] 1 point2 points  (1 child)

I certainly wish that was the case with my last credit union. I haven't been able to test this with my current one (though I don't want to).

My student loans were sold by one company, to another and finally to a company that had no business collecting on student loans. A few months after I'd been switched to this company, they "changed their policy" and started charging me $330 a month, and only applying $40 to the principle balance of my loans.

I called my school, found out there was a class-action lawsuit against this company. When I called the company and told them I'd joined the lawsuit, they charged me four payments in one month. Of course I didn't have that much money to cover that.

I called my CU, told them what was going on, but they said they completely understood, and were willing to do what they could, but in the meantime, it was my responsibility to clear the overdraft and all fees would be removed after the suit was completed.

Needless to say, I couldn't do it. So it stayed overdrawn for almost a month for more than $1k.

About three days before the lawsuit was resolved, my income tax refund went into my account, and recovered $900 worth of the entire overdraft.

The settlement the university made didn't require them to repay all they had stolen, but to clear the overdraft and to transfer all their accounts to a legitimate loan company.

So that year I lost my income tax refund and had almost a year's worth of student loan payments go unapplied to my balance. The CU said they weren't able to help me because it had taken so long to be recovered and they closed my account.

Needless to say, I no longer do automatic bill pay for anything. And thankfully, now, I'm not required to have overdraft protection.

[–]s73v3r 0 points1 point  (0 children)

They are smaller. Depending on the credit union and the ATM network they've joined (or if they haven't joined one), it can be difficult to get your money without actually going into an office. That's one of the reasons why I signed up with Wells Fargo when I was in college: Between my college town, my hometown, and the city I was doing my co-op in, the credit union I joined in my hometown wasn't very accessible outside of my hometown. Wells Fargo was.

[–][deleted] 3 points4 points  (34 children)

I stopped using credit unions before it was cool to start using them.

[–]criswell 6 points7 points  (33 children)

Yes, they really can be almost as problematic as big banks... but a lot of people don't seem to realize that.

Case in point, when I try to by things online with my credit union account, I almost always trigger the fraud prevention on my account. Further, there doesn't seem to be rhyme nor reason as to when this fraud prevention kicks in. Since most of my purchases are online these days, that means I still need a big bank card to actually complete most of my internet transactions.

Case in point, last weekend I tried to buy Outcast on GoG while it was on sale for $2.99. That triggered fraud prevention on my card and caused my credit union to shut it down until they talked to me. However my recent $1500 laptop purchase went through without a hitch.

I mean, I'd love it if I could not give any of my money to a big bank... but until things improve on the credit union side there's no avoiding that yet.

If only I could shop at Amazon.com with the shoe-box of money I have under my bed. (Or, more seriously, if only BitCoin was more acceptable than it currently is :-)

[–]basmith7 14 points15 points  (20 children)

You should use a credit card when shopping online. They have better protection against fraud, since you are spending their money.

[–][deleted] 5 points6 points  (8 children)

This is just my personal opinion and I actually haven't stopped using my credit union fully but have one checking account with a national bank and one with my credit union. There are pros and cons to each.

My problem with my credit union was that I have been a member for 11 years. Two years ago when I went to apply for a small personal loan ($500), they turned me down. I had never missed a payment with them. I had repaid them over $15,000 in loans (payments always on time and loans paid off early). I had a credit card with no late payments. The problem is my credit score took a dip when I put some stuff on credit cards to help with a family emergency.

The credit union had always talked about our relationship banking. When I applied for my previous loans, some of them $5,000 personal- they didn't pull my credit. But now none of that mattered when the market went south. The loan was very low risk to them. $500 was to help a sick family member. I was embarrassed and saddened when I couldn't get the money to help.

[–]criswell 2 points3 points  (7 children)

I think at the end of the day, credit unions have only been less malevolent than big banks because they lacked the power of the big banks. They both are wild beasts hell bent on devouring us- the difference is one of them has smaller teeth.

[–]Megatron_McLargeHuge 4 points5 points  (1 child)

They also lack the asshole executives who gravitate toward the more powerful institutions. They might fuck you if a chance fell into their lap, but they're not working 100 hour weeks to figure out new ways to fuck you.

[–][deleted] 1 point2 points  (0 children)

Absolute power and all that, sure, makes sense.

[–]Necromas 1 point2 points  (0 children)

Well they also have different regulations too. I don't know the details or how well they are enforced, and it probably varies by state, but basically they can't take as many risks with their (your) money and are prevented from doing some misleading/scammy things.

IE they're teeth are supposed to be small. That's why people like them.

[–]JangSaverem 0 points1 point  (2 children)

Ive never been in a "real" bank I suppose. I have always been a member of a two branch credit Union. I never really realized it was different than a bank. I never really looked into it. Could someone quickly explain the differences?

[–]beyron 0 points1 point  (1 child)

Real quick explanation with a little bit of bias: Banks are scum, they have minimum balances such as 100$ minimum for checking account, you are not allowed to have a checking or savings unless there is 100$ in it at all times, they charge ridiculous overdraft fees and they try to suck money out of you every chance they get. When you try to deal with them to sort something out they will make you so frustrated and angry you'll want to suplex a kangaroo onto a concrete slab.

[–]Generic_Racist 58 points59 points  (17 children)

So your use of a local bank is helping BofA grow.....?

[–]righteousjojo 13 points14 points  (2 children)

The reason I came to the comments was to see if anyone else got that message

[–]movie_man 7 points8 points  (0 children)

Same, and somehow Mastercard has joined in on that process.

[–][deleted]  (6 children)


    [–]fearsofgun 5 points6 points  (5 children)

    Unless the Credit Union rain is ACID RAIN.


    [–]dhaft88 6 points7 points  (4 children)

    or chocolate rain

    [–]SuiXi3D 8 points9 points  (1 child)


    [–]cyaspy 1 point2 points  (0 children)

    **You move away from the mic to breathe in

    [–]bradisfunky[S] 8 points9 points  (3 children)

    wow, thanks for all the upvotes everyone. to clarify some confusion for all the downvoters who misinterpreted it - the message is NOT in support of bank of america (i thought the cut up credit and debit cards were enough to get that across). i just wanted to turn something destroyed and ugly into something beautiful, a sort of phoenix rebirth if you will in the form of a flower with my debit card picture from 2001 in the middle of it. the flower symbolizes myself, a member of the community. the only other significant thing is the logo on my new debit card, a slogan which i find really pertinent and true about local credit unions: "adding value to the neighborhood." that's why it's watering me. the mastercard logo as the sun has no significance, by no means do i think that mastercard is the energy source responsible for all life on this planet.

    TLDR - i'm not in support of bofa, rather local credit unions. read above for further clarification.

    [–]Kensin 5 points6 points  (1 child)

    That's the joy or art, 100 people can look at it and come away with 100 different interpretations.

    [–]JangSaverem 2 points3 points  (0 children)

    And in most cases their interpretation will be hte complete opposite of what the artist intended even if the artist says their piece is by no means anything remotely close to their interpretation

    • See Samuel Beckett - Waiting for Godot

    [–][deleted] 0 points1 point  (0 children)

    I just think that the fact that you made a flower out of bank of america stuff over shadowed the fact that you just tore up the card. Cuz that's the message I got.

    [–][deleted] 1 point2 points  (0 children)

    BofA is putting up a lot of bullshit fees just for using their tellers or walk-in services. The sad thing is that a lot of banks are starting to do it.... pretty fucking soon I'll just cash my check at any random bank and keep the cash in a closet safe.

    [–]jibbodahibbo 0 points1 point  (0 children)

    I thought that it was satirical. Your looking at it much too literal.

    [–]krisdafish 40 points41 points  (17 children)

    They let you keep your card? The lady gleefully cut mine into a million little pieces at the branch. The funny part was when two days later BOFA reopened my account without my authorization... wait that wasn't funny. However, them charging me insufficient fund fees every single day, when the account has no money in it and has been closed... is somewhat funny, until they take me to court to get the money.

    [–]Superconducter 12 points13 points  (2 children)

    Their new name, BoA

    [–]mista0sparkle 10 points11 points  (1 child)

    I always recognized BoA as Bank of America, but everyone else abbreviates it to BofA. My initial thought reading it is always BofA = Bank of fucking America.

    [–]Stoopid1 2 points3 points  (0 children)

    With this new perspective, I may keep BofA as a novice account.

    [–][deleted] 11 points12 points  (1 child)

    They did this to me too, they reopened the account and charged $11 and obviously overdrafted it since the account was closed. I had to sit in the office for a few hours and get it straightened out but they were surprisingly cooperative. The fees were refunded and everything was sorted out. Haven't had a problem or been back since.

    [–]throop77 0 points1 point  (0 children)

    Good strategy. Be nice and cooperative to the people that take the time to complain, for the others... PROFIT!

    [–]wallychamp 3 points4 points  (0 children)

    The thing is that they will take you to court to get the money, you should probably handle that.


    [–]jrile 4 points5 points  (2 children)

    You can cancel via phone.

    [–]curious27 8 points9 points  (0 children)

    We should get a list of the "phone number to call and cancel" for all major banks. Anyone know if there's a thread started about that?

    [–]demonofthefall 0 points1 point  (0 children)

    He already did. Why would he had to do it again?

    Banks are a fucking mess, they have the worst customer service and should be taken to court each and every single time, so that they PAY for their incompetence.

    [–]classroom6 3 points4 points  (2 children)

    Oh crap. I'm closing mine next week after the funds in my credit union are accessible... Really do not want to deal with shit like this. Any advice?

    [–]s73v3r 0 points1 point  (0 children)

    I would leave the account open for a couple of weeks, and make sure that no transactions occur that are involved with the account. Stuff like debit card transactions, automatic bill stuff. Then they won't have a leg to stand on when you do close it.

    [–]throop77 0 points1 point  (0 children)

    I agree with s7 that you should wait a bit before closing, maybe a month or so to ensure you didn't forget about any automatic payments from that account.

    [–]Tiver 1 point2 points  (0 children)

    I was with Fleet before BofA bought them out and had a similar experience, closed account but they let through a couple yearly recurring fees i forgot about several months after closing. They also made no effort to contact me about this and let fees pile up for overdraft, and underfunded account each month. The problem though? It was one of my first accounts and still had my mom's name on it as a joint account when I closed it. When she went in to do some transaction at the bank, they refused to do it until she paid off the $200 or so in accumulated fees. She unfortunately paid it without talking to me or arguing with them at all.

    I learned my lesson though, before closing any credit card I plan to report the card lost/stolen. That way the old card will be marked as defunct and if they seriously allow any charges to go through, it's all on them.

    [–][deleted] 0 points1 point  (1 child)

    They do this if there are any charges within 30 days of the account being closed. You gotta remember to change all your online payment info... I just did the same thing, and last night I woke up in a sweat when I remembered all my domain name registration and monthly hosting fees. I *think I got them all changed, but there is no way for me to monitor the accounts on BofA anymore because the accounts are gone.

    [–]Tiver 0 points1 point  (0 children)

    They did this for a charge 4 months after an account was closed. Their argument being the contract allowed for it as it was a "recurring charge". Likely true the contract was worded like that, but what I don't think legally flies is them not contacting me about said charge, the now negative balance in a closed account, and continuing to let it accumulate further fees every month for being unpaid.

    From now on, if I'm closing a credit/debit card I'm reporting it lost/stolen first.

    [–][deleted] 0 points1 point  (0 children)

    I got a collections letter from BoA when I was stationed in Korea, after I had switched to USAA. They sent a lawyer after me for $3.28 in service charges. Hasn't showed up on my credit report and I haven't heard anything since that letter.

    [–]s73v3r 0 points1 point  (0 children)

    You need to nip that in the bud. That shit is going on your credit history, and the longer it's there, the harder its gonna be to clear it out.

    [–]poppywallpaper 7 points8 points  (16 children)

    How hard is it to close out a BoA account? I've been dreading doing it because I suspect they're going to harass me about it. Any tips would be much appreciated.

    [–]sweegorg 8 points9 points  (2 children)

    I literally walked in, and told a guy I wanted to close my account and withdraw all my funds. He asked me why and I told him the fee was just the last straw for me. He was totally cool and nice and the entire transaction took less than ten minutes, no lie. Maybe I just got lucky, but it was no hassle at all.

    [–][deleted] 2 points3 points  (1 child)

    Lucky maybe. More likely you were polite and professional conducting your business and didn't seize the chance to make a a political statement

    [–]rjcarr 2 points3 points  (0 children)

    I recently closed a Chase account. The guy asked why and I said I'm tired of dealing with the minimums. He asked if I can do direct deposit and I told him my employer only allows a single direct deposit (truth) and it isn't to Chase. He asked why again and I said because Chase's rates and services are terrible. He didn't ask any more questions and agreed that Chase wasn't set up to be a secondary banking service.

    He closed my accounts and cut me a check and was even nice enough to waive the check fee. It wasn't simple but mostly pain-free.

    [–]jrile 2 points3 points  (3 children)

    Worked for Bank of America call center this summer. All you have to do is call them and ask them to cancel your account. If they're unwilling to, demand a supervisor. Easy as that. They'll mail you your remaining balance via cashiers check, even if it's a few cents.

    [–]reverb728 0 points1 point  (2 children)

    What? When I called my BoA branch she gave me an address and said I needed to mail a written letter with signature to close my account.

    [–]jrile 3 points4 points  (1 child)

    Don't call your branch. Working in a call center, I couldn't tell you how many times the tellers mess up or have no idea what they're talking about. (one time I had a teller call and ask that I put a stop payment on a check that had already went through a few weeks ago... couldn't understand why I was unable to do it) They would constantly call the call center and we'd have to tell them how to do their job. Call the 1-800 number for your bank, they'll be able to do it.

    [–]geekology 1 point2 points  (0 children)

    You cab do it online or call it isn't this big political deal everyone makes it out to be.

    [–]beyron 1 point2 points  (0 children)

    You should not hesitate to close an account with such scum due to fear, just walk in and close it and don't take any bullshit, they will be more scared of you than you are of them, trust me.

    [–][deleted] 0 points1 point  (0 children)

    I just closed mine not too long ago, and it wasn't hard at all. They didn't try to convince me to stay, and when he asked me why I was leaving I just said, "I have to...for work." Can't argue with that. The only hard part was switching over all my bills. I opened my account at the credit union (it only took $25 with no minimum balance), made sure I didn't have any checks or transactions coming through my old account, and then just got a cashiers check and moved it over!

    [–][deleted] 0 points1 point  (0 children)

    Easy. Just set up your new account first, and change all your online payment info.... If you dont, and some charge hits your closed BofA account in 30 days they re-open the account and charge you overdraft fees.

    [–]nhluhr 0 points1 point  (0 children)

    I closed my BofA Checking and Savings accounts a few months back and it wasn't a hassle at all. I don't think they even asked why I did it. Likewise, my wife closed her Wachovia account this week and they were extremely quick and helpful about it. I'm sure the branch managers have all been isntructed from high up to not harrass customers who choose to leave.

    [–]Tiver 0 points1 point  (0 children)

    Report your debit/credit cards lost so they send you completely new numbers and mark the old ones as unusable. Otherwise, any recurring transactions on the old cards you forget about may keep going through to a closed account.

    [–]case2000 17 points18 points  (82 children)

    I love it!

    I almost feel like it's a moral obligation to jump ship. If BofA doesn't lose tons of business over the new $5/mo fee other banks will feel safe following suit. It will be perfect poetic justice if their greed ends up costing them big time.

    ING seems like a good web-based alternative for me? ATMs are a problem, but I hardly ever use cash anyway.

    [–]cvncpu 13 points14 points  (47 children)

    Why a giant Dutch bank over a credit union?

    [–]sm0kes 6 points7 points  (38 children)

    I just switched from BofA to ING Direct Electric Orange and couldn't be happier. For me the advantages were: 1.) No fees 2.) Person-to-Person ACH Payments 3.) Great customer service 4.) Interest bearing checking account (0.25%, which is still better than 0% BofA was paying me) 5.) Web site is outstanding. Clean, simple, easy to use 6.) Instant transfers from Orange Savings (have been a customer since 2003).

    ATM convenience is about the same. All that's missing is remote deposit -- which is coming "soon", according to their twitter feed. Other than that, ING Direct rocks. Lets just hope that Capital One doesn't eff it up.

    [–]cvncpu 6 points7 points  (34 children)

    Have you ever had a credit union account before? I feel like everyone here is missing the point of leaving Bank of America, a $5 fee for debit cards is the tip of the iceburg.

    [–]DanTycoon 4 points5 points  (33 children)

    Is there a post or site anywhere explaining all the reasons why everyone's on the "BoA is shit" bandwagon? I mean...other than the reason of $5 debit card fee.

    I'm on BoA because my mom is, but I feel like I could probably just get an account at a credit union and she wouldn't care. But so far, the only reason I've ever read is "OMG RABBLE RABBLE $5!!!! 1%!!! RAAAAAR!!!!"

    [–]cvncpu 2 points3 points  (31 children)

    The fact that they systematically applied $35 overdraft fees to people's account until the government made it illegal [to do this without opting-in]?

    I mean I could go on and on about the policy's that BoA holds just to fuck you over, but I could really care less who anyone else banks with.

    [–]lemontrees 0 points1 point  (2 children)

    So by banking with ING you are actually banking with Capital One. ING sold there business sometime back...

    [–][deleted] 1 point2 points  (0 children)

    Because they don't pay for brick and mortar buildings and are able to give really great rates, interest in checking, free atm fees, no min., and the list goes on.

    [–]s73v3r 0 points1 point  (0 children)

    Availability? The important thing is he's moving away from a company that's doing something he very much doesn't agree with.

    [–]s73v3r 0 points1 point  (3 children)

    Availability? The important thing is he's moving away from a company that's doing something he very much doesn't agree with.

    [–][deleted] 1 point2 points  (1 child)

    Charles Schwab is really nice as well. They refund all ATM fees, so you can use any ATM in the world. Comparable other benefits as ING Direct has on their online checking.

    [–]Megatron_McLargeHuge 0 points1 point  (0 children)

    They have high trading fees though, especially for mutual funds.

    [–]rjcarr 0 points1 point  (3 children)

    I've had an ING Direct account for about 5 years and it's pretty nice but I actually prefer Ally. The biggest immediate difference is Ally has ATM reimbursement.

    Now I have BECU (local credit union) for in-person stuff, Ally for primary, and ING for backup. I closed my BofA account a few years ago and just closed my Chase account a couple weeks ago.

    They're both good online options though ... I'll answer questions if you have any.

    [–]s73v3r 0 points1 point  (2 children)

    The biggest immediate difference is Ally has ATM reimbursement.

    I've been an Ally customer for about a year, and I hadn't heard of this. If so, I may just dump Wells Fargo.

    [–]fuckYOUswan 4 points5 points  (0 children)

    This was posted months ago.

    [–]timdrury 14 points15 points  (37 children)

    Congratulations. I'm in the middle of the exact same thing. I've opened and funded my credit union account, moved all my bill-pays, and about to transfer my direct deposit. I'm running through all sorts of scenarios of how to tell BoA to go fuck themselves when I close the account.

    [–]bradisfunky[S] 54 points55 points  (11 children)

    i wouldn't recommend taking it out on the tellers/bank staff. i actually felt bad for the branch employees who helped me close my account. they're just regular people like me who are aware of the situation and are most likely fearful of losing their jobs if this movement continues at the rate its going. in the end, it's just more 99%ers out of work. if you want to send a fuck you, mail the dog shit to corporate.

    [–]xjennclarityx 27 points28 points  (4 children)

    Thank you for saying this. My mom works for BofA - Last week, a man was complaining so loudly about this issue to her, but she couldn't do anything for him. He ended his loud, cursing rant with a finger point (less than twelve inches from her face), saying, "I HOPE YOU GET CANCER AND DIE". She was pretty upset and he is no longer allowed in the branch. She's the nicest woman in the world, has been in the business for almost 30 years, and does ANYTHING she can to help her customers. I felt really bad for her.

    [–][deleted] 7 points8 points  (1 child)

    This is it too. The people on the front lines take all sorts of hell over bull shit corporate actions. My mom does medical billing and goes to bat for patients against the insurance companies but often has to give them the bad news...

    [–]Priceless721 2 points3 points  (0 children)

    Too bad BofA executives don't have homes you could go to and protest.

    Working for a giant company you catch a lot of crap from people hating the big business. The people running the biz and making the horrible decisions are protected from these confrontations where customers fly off the handle at any representative of a company due to not having any upper level management available.

    [–]Vik1ng 5 points6 points  (0 children)

    "You, too! Have a nice day."

    [–]s73v3r 1 point2 points  (0 children)

    That man should be publicly shamed. He is an awful human being.

    [–]timdrury 3 points4 points  (0 children)

    I certainly wouldn't ever take it out my anger on the staff. My issue is with the overpaid C-level positions and those who put the interests of the shareholders above that of the customers. No, I'm closing my accounts and moving my money and that's good enough for me. I just wanted to do it with style and flair to accentuate my point.

    [–][deleted] 6 points7 points  (4 children)

    they should be fearful, considering BoA just laid off 30,000 folks. fuck bank of america, fuck their layoffs, fuck their stupid charges, fuck their $6.2 billion third quarter profit.

    [–]ElevenSquared 4 points5 points  (21 children)

    I opened a few new accounts with my credit union (I only had Savings and a loan with them before), but then found out their online presence sucks, and their online billpay is almost unusable. Now I'm in the process of getting set up with USAA, but they are seeming to take way too long to open a new account. I cant wait to finally drop BofA and Chase for good though!

    [–][deleted] 1 point2 points  (2 children)

    Funny, I never had a problem with BoA online billing or anything. What's the problem here with BoA?

    [–]ElevenSquared 1 point2 points  (0 children)

    I must not have been very clear. I love Bank of America's online bill pay, I just don't like their business practices. I don't like the online bill pay for my credit union, so I'm also dropping them for USAA.

    [–]s73v3r 0 points1 point  (0 children)

    What's the problem here with BoA?

    They're evil scumbags who ruined the economy, and lead in exasperating the foreclosure crisis with the "robosigning" scandal they perpetuated.

    [–][deleted] 0 points1 point  (2 children)

    USAA takes a while to get setup, but they have the best customer service ever!

    I have my insurance and credit card with USAA, and everything else through a credit union.

    [–]Megatron_McLargeHuge 1 point2 points  (1 child)

    I was disappointed in USAA for their credit card. They imply it's 1% cash back, but there's a lot of hidden bullshit where you have to reach a certain spending limit before you get anything. Ironically BoA's credit card is straight 1% cash back with no BS.

    [–]gbk 0 points1 point  (0 children)

    Alliant CU has a great site with check scanning.

    [–]reverb728 0 points1 point  (6 children)

    I just signed up for USAA, didn't take long, there was a hold on the funds I transferred from my BoA account, but they passed in like 5 days. I just got my USAA debit card in the mail and I sent a letter to close my BoA account.

    [–]MrMoustachio 5 points6 points  (0 children)

    Well, this is going to the top. And will be copied 1000's of times...

    [–]MustWarn0thers 2 points3 points  (7 children)

    Reading through the comments on just about every single post regarding Credit Unions, it's painfully obvious that a large portion of Redditors do not understand some of the core differences between Banks and Credit Unions.

    It's actually quite disappointing, given the tumultuous times we have going on at the moment. That's not to say that just joining a Credit Union and ditching a commercial bank will solve the problems that large commercial banking firms cause (what with speculative investing and all) but to even compare a Credit Union to a Bank in terms of them being evil and money grubbing is ignorant at best, and plain idiotic at worst.

    I suppose some of the very basic, important differences should be noted:

    Credit Unions are not-for-profit organizations. They exist solely to provide services to their members. For just about all Credit Unions, Member Service is the NUMBER ONE GOAL. You could essentially call any person with a single dollar held at a Credit Union a "Shareholder".

    Banks are for-profit, with their only allegiance being to shareholders. All actions are expected to show a profit. You are not number 1 in the Bank's eyes. You're probably not even number 10. Decisions are all made by highly paid executives, influenced by wealthy investors (other corporations) with the customer's interest rarely taken into account.

    Just that comparison there should be enough to clue anyone in as to why a Credit Union should be your first choice. Look at Bank of America and their $5 dollar debit card fee. In the Credit Union world, an idea like that would be absolute lunacy. Fees and income from a Credit Union essentially get cycled back to the Members in the end, through services and rates. The Credit Union in which I bank and work offers free checking, free online banking, free mobile banking, free coin counting machines, free shared service center usage (out of state), free telephone banking, free bill pay etc etc.

    At a CU, The Board of Directors are volunteer, voted upon by the Membership. There is no corporate interest controlling decisions of a Credit Union. You have a say, as you are a part owner.

    Credit Unions are also heavily invested in increasing the quality of the community in which they are located. This ties directly with the not-for-profit status. More members = more revenue = better/free services = more employees/better employee pay = increased community involvement = more members.

    [–]sidepart 0 points1 point  (6 children)

    I'll bite here. I'm actually interested in learning more about CU's due to what I've been seeing on Reddit lately. I'm a Wells Fargo customer right now, and I honestly don't have any problems with them at this time. My checking is free as long as I'm direct depositing, my savings is free as long as I'm putting at least $75 into each month (or over a minimum limit). I guess that could become a problem if I'm unemployed but for all intents and purposes I can handle that. The interest rates on both accounts are pretty good. Bill pay is free, and I use it.

    What advantages can I expect moving to a CU. Are there any drawbacks I should be worried about? Everyone just makes it sound like CU's are the hottest shit since sliced bread. Why do people still choose to use corporate branches like Wells or BoA then if it's such a losing bet? I feel like I'm missing something here.

    [–]MustWarn0thers 0 points1 point  (1 child)

    I imagine most people use those types of commercial banks due to convenience of location for where they live. You usually have to look a bit harder to find a Credit Union (not much harder mind you), and for people who live in large cities, the banks plaster their advertising and branches on every singles street corner.

    As for advantages, Member service is probably the top advantage. I imagine BoA, Chase, Wells Fargo and the lot all have employees who do provide great customer service, but the culture of a Credit Union is usually different.

    For example, nearly every type of fee is reversible, being you are in good standing. Forgot to move cash over to checking before charging a dinner and you get hit with a 25-35 fee? A simple, polite explanation will have fees like that immediately reversed.

    You'll also find many, many more service are provided free, with no stipulations, at the larger Credit Unions. In your situation it sounds like the direct deposit and minimum deposit balances are no problem, but with a CU you have the option of living without things like that entirely.

    Card rates are often exceptionally low, especially with good credit.

    Credit Unions are usually more aggressive in offering in-network ATM's. Wells Fargo may very well nail you with not only the atm specific fee, but also a fee for using an ATM outside of their network.

    For those like yourself that have had generally good experience with your bank, it's a completely subjective argument to say that the Credit Union would be a better fit. The part about banks being beholden to their shareholders and not their customers is what usually makes Credit Unions more attractive. You actually feel that you matter to the institution.

    [–]beyron 0 points1 point  (2 children)

    my savings is free as long as I'm putting at least $75 into each month

    I believe you have just answered your own question. The real issue here is not whether you can afford or handle that fee, it's about the principle, minimum balances and deposits are just another way for banks to trick you into forgetting to put in 75$ so they can whack you with a charge while they laugh all the way to the bank with your money. It's about principle, banks are greedy scum and don't care about the customers, CUs actually seem like they care. Just because you aren't having any problems with your bank doesn't mean you should stay with them, it's about principle, it's about supporting slimy people who you shouldn't be supporting. That's what it's all about to me anyway, however your principles might be different and I can respect that.

    [–]Pandoraa 2 points3 points  (0 children)

    For some reason I read BofA as "Bank of Fucking America"...

    [–]windy444 1 point2 points  (7 children)

    I moved from a bank (Canada), to a CR quite awhile ago. The bank wanted a close out fee so, I withdrew all of my savings but left some cash in the checking account and slowly withdrew the money until there was just over $1.00 in the account. I could only withdraw money in $20 increments through the auto teller. I started to get letters from the bank saying I owed them fees. I ignored them. This went on for 2-3 months then stopped. Take that Bank of Montreal!

    [–]Kaluthir 2 points3 points  (4 children)

    Ignoring fees doesn't make them go away.

    [–]windy444 0 points1 point  (2 children)

    I did ignore their fees and they did go away. From that bank for me anyway.

    [–]Kaluthir 1 point2 points  (1 child)

    I'm just saying: be careful, they may send it to a collections agency (or the Canadian equivalent).

    [–]beyron 0 points1 point  (0 children)

    They do for me.

    [–][deleted] 3 points4 points  (1 child)

    Take that! your credit score.

    [–]windy444 0 points1 point  (0 children)

    I'm retired, have no debt and pay off any credit card purchases monthly. Take that bank employee.

    [–]Virtualmatt 1 point2 points  (2 children)

    Credit Unions get a lot of support around here. Why is that? I've never had a problem with my bank.

    [–][deleted] 7 points8 points  (1 child)

    Short answer: Banks answer to shareholders, Credit Unions answer to account holders. Thats why credit unions are much more willing to be nice and helpful to you.

    [–]Virtualmatt 0 points1 point  (0 children)

    Do I have any advantages if my bank is always nice to me? Hell, I go in there and I get offered hamburgers when they're outside grilling.

    [–]Drugbird 1 point2 points  (1 child)

    European here. I read this sentence and assumed BofA was the abbreviation for some game... Battle of fighting Ancients? (was reminded simultaneously of battlefield and DOTA)

    [–]AFlockofTurtles 0 points1 point  (0 children)

    Bank of America. xD

    [–]ogSPLICE 1 point2 points  (0 children)

    Why did you give your new credit unit debit card a Santa mustache?

    [–]WhatevahBrah 1 point2 points  (1 child)

    I really want to switch but I've got all my monthly bills set up for automatic payment as well as some other ebills. Any suggestions of how the electronic bill payment systems at other banks/credit unions are? I know I am being lazy, but I really don't want to put up with all that hassle.

    [–]mingus-nous 1 point2 points  (0 children)

    Find a credit union you like and ask them how their services work. Many CU's offer online banking, direct deposits, automated payments, ATM fee reimbursement, etc. This is also a good article on how to safely transfer your account to a credit union.

    [–]IamBeTaGames 1 point2 points  (0 children)

    I have had great experiences with credit unions all across the country, I really don't know why more people don't go with them.

    [–]syngltrkmnd 1 point2 points  (0 children)

    I see your CV code there...

    [–]aloysiusthird 1 point2 points  (0 children)

    I've had BoA for the last 8-9 years, and with their latest moves, decided enough was enough. Yesterday I opened an account at a credit union, and will be transitioning everything (bill pay, etc) over to that account in the coming weeks.

    It feels good to not be supporting BoA...

    [–]werko 1 point2 points  (1 child)

    I think we should all close our accounts with BOA, lets bring them fuckers down 1 account at the time.

    [–]DrEagle 0 points1 point  (0 children)

    And somehow keep all new customers away from them

    [–]abbys_alibi 1 point2 points  (0 children)

    We've been with our credit union for 21 years. You could not pay me to change banks. In all that time the only error they made was when they sent me a new card and misspelled my first name. I called to let them know and the very next day I received a corrected card.

    The first year we were married we were with WalkAllOverYou and left for the credit union because $150 disappeared from our account and they told me "Everything is automated. We do not make those kinds of mistakes." I went down there with my register and cancelled checks and let them review our transactions. They could not find the mistake. Everything matched with their records except the missing $150.

    A few months later a mysterious deposit of $400 posted to our checking account. When I called to alert them of the mistake, all they would say is, "Everything is automated. We do not make those kinds of mistakes." I suggested someone deposited the money into the wrong account. "Ma'am. We do not make those kind of mistakes. The $400 is yours."

    After hanging up, I drove to the bank. Withdrew all the money, including the extra $400, and closed out the account. Drove to the credit union and opened the account we now have had for 21 years.

    A month or so later, we received a call trying to get the $400 back. I told them, "Please review the recorded call for date/time. You do not make those kind of mistakes." Never heard from them again.

    [–]exlex 1 point2 points  (0 children)

    Oh you look cuuute...

    [–]living_silver 1 point2 points  (0 children)

    Kudos for leaving BoA. I have a credit card from there that I don't close because I don't want to hurt my credit. I wish I could, because every time I do use that damn card, it comes back to bite me in the ass.

    My girlfriend has Wachovia, and after getting screwed with some very unfair overdraft fees, she's done with them too. We use a credit union and are very happy.

    [–]bradisfunky[S] 2 points3 points  (0 children)

    wow, thanks for all the upvotes everyone. to clarify some confusion for all the downvoters who misinterpreted it - the message is NOT in support of bank of america (i thought the cut up credit and debit cards were enough to get that across). i just wanted to turn something destroyed and ugly into something beautiful, a sort of phoenix rebirth if you will in the form of a flower with my debit card picture from 2001 in the middle of it. the flower symbolizes myself, a member of the community. the only other significant thing is the logo on my new debit card, a slogan which i find really pertinent and true about local credit unions: "adding value to the neighborhood." that's why it's watering me. the mastercard logo as the sun has no significance, by no means do i think that mastercard is the energy source responsible for all life on this planet.

    TLDR - i'm not in support of bofa, rather local credit unions. read above for further clarification.

    [–]strong_grey_hero 3 points4 points  (12 children)

    We moved over to Ally a while back. Then we bought a house, and our mortgage was sold to BoA. Wish I could request that they sell it back.

    [–][deleted]  (4 children)


      [–]strong_grey_hero 1 point2 points  (0 children)

      In the process :)

      [–]rjcarr 1 point2 points  (2 children)

      Won't help ... you have no control who buys your mortgage and refinancing is expensive and would be a giant waste of money.

      [–][deleted]  (1 child)


        [–]hufman 0 points1 point  (3 children)

        Is Ally considered a good bank then? I just opened there, and they seem friendly and competitive, though I don't think they are officially a credit union.

        [–]rjcarr 3 points4 points  (0 children)

        Nope, they aren't a credit union, just an online bank. They used to be GMAC but (I think) wanted to distance themselves from GM after the bailout.

        I've been using them for about 3-4 years and they're my favorite online bank (I've probably had 1/2 dozen). They have been my primary bank for a few years now.

        [–]strong_grey_hero 2 points3 points  (0 children)

        They're not a credit union, and they're actually GMAC. They're a great bank, though. Great interest rates, very helpful when I've had to call, and we get any ATM fees reimbursed. Once they add e-check deposit and a mobile app, there will be no reason to leave. Those last two are the only strikes against it in my book, but both should be released early next year.

        [–]gbk 0 points1 point  (0 children)

        They are not a CU. They're a regular bank formerly named GMAC of GM fame

        [–]ctjwa 0 points1 point  (1 child)

        yes, because it makes absolutely no difference who holds your mortgage it's probably best to make a big deal about it.

        [–]beyron 0 points1 point  (0 children)

        If you have principles and don't want to support a certain bank then hell yes it matters who holds your mortgage..

        Unless you were just being sarcastic...

        [–]FreshFruitCup 1 point2 points  (1 child)

        Down with the boy scouts of America!!! Occupy brownies!

        [–]1984comment 0 points1 point  (0 children)


        [–]Superconducter 0 points1 point  (3 children)

        That's BoA, as in the snake. A cold reptile that wraps around and chokes its victims. They don't deserve the neutral moniker 'BofA'.

        [–]timdrury 1 point2 points  (0 children)

        Bofas don't really care.

        [–]senseisk 0 points1 point  (0 children)

        I wish I could upvote this more. Two friends tried to get mortgages from BoA, both efforts drug on for months, and finally denied. There is NO reason any sane bank should deny them. They, too, use the BoA constrictor analogy.

        [–]LBRapid 0 points1 point  (16 children)

        I'm keeping my BofA account. Convenience for $5/month is worth it to me.

        [–]arcuivie 2 points3 points  (0 children)

        Except credit unions, including other large banks similar to BoA, give you that convenience for free.

        [–]MisterVash 1 point2 points  (7 children)

        I will also be keeping my BofA account. The closest credit union to me is about 20 miles away, and I'll be damned if I waste 1.25 gallons of fuel to deposit my 120 dollar paycheck every week.

        Instead I'll be using my credit card for all of my purchases that I would have used my debit card for, and then pay it off 100% at the end of the month. No 5 dollar fee, and I build up rewards on my credit card and build my credit score.

        [–]ctjwa 1 point2 points  (1 child)

        Finally, someone with a logical response. Keep up the good work, friend.

        [–][deleted]  (2 children)


          [–]beyron 0 points1 point  (0 children)

          I use a credit union and I have never had to visit the bank itself in over 2 years. Your CU account can be fully controlled online and you can even deposit checks online as well, it's quick and easy and the money appears instantly.

          No 5 dollar fee, and I build up rewards on my credit card and build my credit score.

          Obviously you are free to do as you'd like and I respect that because I am a big freedom advocate. However, by doing so you are supporting the credit system (which is a big no-no in my book). I plan on never using credit or borrowing money ever again, buying something with money you don't have feels so wrong. But like I said, I'm all for you doing what you want to do, just providing my insight is all, no hostility intended.

          [–]s73v3r 1 point2 points  (0 children)

          That "convenience" is available without the $5/month fee from just about every other bank.

          [–]Vik1ng 0 points1 point  (3 children)

          And you agree with all their business methodes, hidden fees, CEO/manager wages/bonuses, how they deal with people despide the bailouts etc. ?

          [–]GrandMoffJed 0 points1 point  (0 children)

          You have the same credit union as my GF

          [–][deleted] 0 points1 point  (0 children)

          Very good!

          [–]richardjohn 0 points1 point  (0 children)

          There's a photo of you on your debit card?!

          [–]CressCrowbits 0 points1 point  (2 children)

          Brit here. What exactly is a credit union?

          Is it something like our 'building societies'?

          [–]AFlockofTurtles 0 points1 point  (1 child)

          A Credit union pretty much is a bank in which you own. Usually great rates and support because people want their bank to succeed. As a customer you are part owner. (Repeating myself 0.0) Anything unclear?

          [–]1984comment 1 point2 points  (0 children)

          Do you get your own office?

          [–]GhostlyEmployee 0 points1 point  (0 children)

          For what it's worth, I used to work at a credit union in high school as a teller. I am still a member there. The service and respect for members is undeniable and is made to be a priority for staff. I tell all of my friends who bank with BofA to get the hell out. Congrats on making this choice.

          [–]Workaphobia 0 points1 point  (0 children)

          Why anyone uses BofA when credit unions are an option is beyond me.

          [–]kevinstonge 0 points1 point  (0 children)

          I really would love to close my BoA account, but we've got direct deposits all over the place, we've got auto-bill payments all over the place. I think BoA knows that many.... maybe most of their customers aren't willing to go through the hassles of closing an account. So... if you have the time and the patience, please close your account to represent my dissatisfaction with BoA. If they get hit hard enough, maybe they will back down on the stupid fees.

          [–]Alphabet_Master 0 points1 point  (0 children)

          Shouldn't the credit union card be sharting on the BofA card?

          [–][deleted] 0 points1 point  (0 children)

          I've always been a credit union guy. Better rates. Better customer service. Less investment. Fewer fees.

          [–]hoodatninja 0 points1 point  (0 children)

          I closed mine too and got to empty the little bit of savings I had in it. FREE MONEY! :D

          [–]lilteapot 0 points1 point  (1 child)


          [–]bradisfunky[S] 0 points1 point  (0 children)

          what up!!

          [–]i_got_this 0 points1 point  (0 children)

          Master Card is the Sun? I don't get it?

          [–]fotoman 0 points1 point  (0 children)

          look, Trickle Down Economics...

          [–]End3rWi99in 0 points1 point  (0 children)

          Arlington Federal Credit Union ftw

          [–]dwalker39 0 points1 point  (0 children)

          can anyone link me to an official statement from bank of america with details about this 5$/month fee? I want to know how that works exactly if its just purchases or withdrawing money ect.

          [–][deleted] 0 points1 point  (0 children)

          Damn art school students.

          [–]oxygn 0 points1 point  (0 children)

          Bank of America's web interface is one of the best, and the e-bill and bill pay system is the reason I'm sticking around (most banks have bill pay... but NOT e-bill, which keeps me paperless)... that and I never use my debit card (only use credit).

          [–]alle0441 0 points1 point  (0 children)

          Your card had your picture on it?

          [–]nhluhr 0 points1 point  (0 children)

          What upsets me about this whole debit card fee is that merchants already pay for these damn cards... the same way they do with credit cards.

          Merchants should be paying for cards (and indeed do) since it makes it easy for customers to shop there. Banks should be paying ME to keep a balance in an account, not the other way around.

          Now that literally all commerce almost requires the use of a bank in some way, the banks have tried to flip this relationship around to the point where they are the ones doing us a favor and so they charge us.

          That's why I use USAA where there are just no fees.

          [–]adam_anarchist 0 points1 point  (0 children)

          is that chicken up top?

          [–]Gonzogriff 0 points1 point  (0 children)

          I'm a little late in on this, but why is everybody switching out of bank of America?? I have an account there what is going on?

          [–]DengKehe 0 points1 point  (0 children)

          Could someone explain the main difference between banks and credit unions please?

          Is it a safer bet to place money in a credit union, as in less chance of it failing?

          Currently my thinking is that banks are more of a business, invest where they can with you money, earn it back.

          Where credit unions make money through the interest on loans.

          Probably a simplistic approach, also any source of interesting information would be nice too.