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Make the Switch? Big Banks vs Credit Unions?

Discussion in 'Off Topic' started by lola85, Nov 15, 2013.

  1. lola85

    lola85 Portland Member

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    Looking for some info on local Portland credit unions. I'm looking to reallocate my liquid savings and checking account.

    Positives? Negatives?

    Couple that popped via quick google search.

    Oregonians Credit Union
    OnPoint Community Credit Union
    Mid Oregon Community Credit Union
    First Community Credit Union
    Northwest Community Credit Union

    Seem to be quite a few choices. Looking for feed back on anyone that uses one for personal banking.
     
  2. rick benjamin

    rick benjamin USA, Or, Damascus Secure the drama Silver Supporter 2016 Volunteer

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  3. drew

    drew OR Well-Known Member

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    I'm with Advantis and am very happy. Free checking that pays a couple percent interest to 25K of funds and ATM fee refunds.
     
  4. JRH Oregon

    JRH Oregon Oregon Active Member

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    My wife and I use Northwest, she also works there. Most of our loans are through selco.
     
  5. deen_ad

    deen_ad Vancouver, WA Well-Known Member

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    Haven't kept a significant amount of money in a "big bank" account since about 1979 when I went to the CU I now have. Even before that I used a CU after I kept getting "screwed" by a bank in Vancouver. Seems every month the account was short 10¢-20¢ and I could never find it, nor could you get them to admit there was a mistake.


    Deen
    NRA Life Member, Benefactor Level
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    "A gun is like a parachute. If you need one and don't have it, you'll probably never need one again!"
     
  6. erudne

    erudne The Pie Matrix PPL Say Sleeping W/Your Rifle Is A bad Thing? Bronze Supporter

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    What money I had I pulled out, but a CU is a different breed of cat than a Big Bank.
    There are also local banks that did NOT buy into the Clinton/Bush/Bush/Obama Scam.
    Best to keep cash and deposit just enough to cover your checks for monthly payments
     
  7. rkoreis

    rkoreis Vancouver, WA Member

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  8. daoism

    daoism PDX Member

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    Been with Trailhead Credit Union (formerly NW Resources Federal CU) for several years. They've always been good to us. Currently their only branch is downtown but they're opening another on N. Mississippi.
     
  9. Blitzkrieg

    Blitzkrieg WA Well-Known Member

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    Stable credit unions are always best if you have some cash reserves. I would recommend hard assets (ammo, gold, silver) and a carefully selected retreat location with water, fuel, food, medical and food supplies and tools to survive off grid, first
     
  10. Oklahomie

    Oklahomie Marysville Active Member

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    +1 for navyfed, moved to them from BofA. I had a car loan through chase and they were pleasant to work with, pretty flexible on due dates. The way BofA pushes through transactions was bad, a $12 subway sand which almost cost me $800 in over draft fees. They corrected it and them I withdrew all $13 and went navyfed.
     
  11. DieselScout

    DieselScout S Clackamas County Well-Known Member

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    I have been a life long member of Clackamas Federal Credit Union and cannot say enough good things about them. I have financed 2 cars (both paid off now) and got a home loan from them and all the interactions were easy, painless, straightforward, and no pressure. No hidden fees or tactics just honest interactions. I have dealt with big banks before for a club I am a member of and never again. The credit union has always felt comfortable, friendly and as all the employees are working for me.
     
    jbett98 and (deleted member) like this.
  12. huthuthike

    huthuthike Hillsboro OR Active Member

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    We have used Unitus, First Tech, Boeing and Lower Columbia Longshoremen's Federal Credit Union. The last 2 specifically due to promotions/events/discounts... I will say that I feel like they see me as a person, not as money walking in the door. I know they are trying to make money but I feel different. We switched from US Bank and it has been a world of difference.
     
  13. DieselScout

    DieselScout S Clackamas County Well-Known Member

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    Just a follow up today, we got our new car today, and as stated before the process was very easy. I applied for the loan over the phone. They emailed the docs to me and I digitally signed them. The loan agent I was dealing with also sent my info to the auto broker who works out of the credit union and within a few hours he had called me and was looking for the car we wanted. We met last Friday and he had a selection of 4 cars to choose from, he inspected my trade in and gave me a fair trade value for it, which I was very happy with it. We picked out the car we wanted and took delivery of it today. In the middle of all this the loan officer who I was working with noticed my credit has improved drastically from when I got my credit card. I got it in college and I had no credit at that point. She cut my interest rate by more then half an upped my credit limit. I don't use it all that much, it's more of an emergency card then anything else. I've never had to pay interest on it, or get near it's limit, but it was nice of them to look out for my interests. The process over all was painless, we got a good deal on a new car and there was no hassle what-so-ever. I would recommend Clackamas Federal to anyone, frankly their only draw back is they don't have many branches.
     
  14. Starship

    Starship NE Portland Active Member

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    Unitus, good customer service and web access.
    If you personally need to go to a physical location make sure there are some in your area.
     
  15. U201491

    U201491 Well-Known Member

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    If the banks go down so will the credit unions.
    FDIC will be broke and defunct, and there will be no insurance
    in a major fall to destruction.
    So it is only a temporary stopgap to save some fees.
    and the outcome in the end will be the same result.
    Put a % of money into barter supplies to survive.
     
  16. WAYNO

    WAYNO Oregon City Gold Supporter Gold Supporter Bronze Supporter

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    I've been around a long time. I've used banks, and I've used credit unions. With all the credit union mergers shutting down smaller/neighborhood credit unions, and the credit unions themselves getting bigger, I don't see much difference between the two.

    WAYNO.
     
    Taku and (deleted member) like this.
  17. isaacR

    isaacR CA New Member

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    Americans have become much less trusting in the banking-industrial complex, despite the ubiquity of large multinational bank branches. As a result, a steady trickle of people have been leaving and electing for credit union membership. Source of article: Credit union membership continuing uptick.