In these dark days of spring1 I spend the time that in the summer will be spent pulling weeds and picking veggies planning my financial strategy for the year. This years big change was a bank switch.
My soon-to-be-former bank sent out notification a month or so ago that they were changing things up a bit. Seems they’d been hit harder than they anticipated by the lowered fees for late payments and they needed to make up the dollars on the rest of their customer base. I had 45 days to either 1) get approved for a mortgage by them2 or 2) give them a ton more money. How I was supposed to spontaneously generate more dollars is anyones guess. Honestly, if I could do that don’t they know I would have taken advantage of it by now? Silly bank.
The demand for more business/dollars was accompanied by an extra fantastic fee for failing to meet these crazy new requirements. So I went shopping. I looked at 6 banks and 5 credit unions, trying to get an idea of what was out there. Finding a way to access my money easily, make deposits, do all of my bill paying and not get charged for the privilege was not an easy set of requirements to meet. In the end there were zero banks and two credit unions that made the grade. I’m pleased to report that I am now a credit union member and am slowly working on closing off all my dealings with the bank.3 Capitalism is a wonderful thing.
- Does that even make sense? Only in the NorthWest can you have so much gloom that even the green of spring can’t lighten it. [↩]
- last time I asked, the couldn’t even bother to return my calls [↩]
- Well, they can keep the safe deposit box, but that’s it. [↩]