credit union getting greedy

[dmccarty]

We use credit cards for everything, pay them off every month. Trying to get on online pay for everything I can.

I hear I need to Buy Local Buy Local Buy Local. Last week I ordered some stuff from Amazon that I doubt I could find locally. The only place that might have had ONE of the items is an hour round trip. It certainly does not pay to drive out there even if they had the product. We have Amazon Prime and that is one of the best dollars I spend since we get free streaming and free two day shipping. The cost of Prime is paid for after the XMAS holidays.

For the last two weeks, I have been looking for a canning funnel and jar lifters. You would think in a rural area they would be available but they are not in the two grocery stores or two dollar stores. The grocery store has jars and other canning supplies but not the funnels or lifter. The wifey went to Target and they were not being carried either. I should have just ordered them on Amazon and I would have had the items last week but I thought for sure I could find these simple things locally.

After the items were not at Target, I ordered them on Amazon and they will be delivered on Monday. Frankly, the stuff I found on Amazon is MUCH better than what I would have found locally.

Shopping online saves me such much time and effort it is unreal. Then there is savings of gas and wear and tear on the vehicles...

Later,
Dan

 

[Bird]

Bird, since I have my pension and 457K plan withdrawals electronically deposited to my credit union accounts near the end of the month, I just drive thru and take $400-500 out of the ATM once a month, that's my spending cash and the CU is right next door to my regular grocery stop. I have never used a credit card for cash withdrawals, EVER since there is usually a fee for those. Interesting that you can use a Discover card for that purpose and not pay a fee. Is there any limit on the amount you can withdraw? (assumes you don't mind sharing that info, thanks)

JD, there's some considerable fees if I use an ATM; it's been so long I've about forgotten, but I think it was $1.00 for the Credit Union and $1.50 or $2.00 for the owner of the ATM, so when we were traveling, I would draw $200 at a time; carry $100 and give the other $100 to my wife. Of course if I used my own credit union's ATM, I wouldn't have those fees, but my credit union has 9 locations in 3 counties; the closest one being 20 miles from my house. With my Discover Card, the machine you slide it through asks if you want cash back. If you touch "Yes", it displays $20, $40, and $60 so you touch the one you want, and it will then ask if that's right. I never do anything but the $60 at a time, but I have done that more than once in the same day, so I'm not sure what the limit would be. And of course, since I pay in full each month, there's no interest or other fees. But my wife and I usually each carry $100 to $150; never more than that; no need to.

Of course my pension and my wife's social security are direct deposited into that checking account. If my credit union had an office as close as the grocery stores, I probably wouldn't use the credit card for cash. But you say you get $400-$500 a month; we won't spend $60 in cash in a month; just use plastic. And I'm one of those characters who saves all the receipts, staples them to the monthly bill, and keeps them for years.:laughing:

 

[jinman]

If there's anything this thread shows, it's that the only thing common with all of us is that we all spend money. Everyone has their own habit that works for them. From the number of people living in a household to the number of miles to the nearest store or bank, all of us live in different environments that affect our habits. My nearest bank branch is 48 miles from where I live, yet I keep that bank because everywhere I travel in the USA there are branches in every major city. I also like their online services and carry a debit card that is exactly like an electronic checkbook as previously pointed out. Frankly, the local Walmart is my source for cash. If I pay with a debit card, I can get cash for no fee. It's just a system that works for me, and in no way is that to say it's the best.

We've strayed a bit from the OP's original thesis in this thread. He feels that CUs are becoming greedy. Some of the rest of us feel that all financial institutions are struggling to survive. Sure, the salaries of their execs are bloated, but small branch financial institutions may soon become history. Technology has figured a way to replace the offices and people with money-bots called ATMs. Just like you can't get an actual Social Security check sent to your house, one day there may be nothing but money-bots out there. Good or bad, that's the direction of things it seems. Good ol' greenback legal tender is under attack. If we sometimes feel like we are caught in a whirlpool, just think how the poor teller feels who can't read checks without glasses, but there's an ATM machine out front that can read the amounts on checks better than the tellers.

 

[Grumpy Old Man]

Use cash avoid all the hassles , Are you so incompetent you can't manage your own cash without help ?

 

[MossRoad]

Use cash avoid all the hassles , Are you so incompetent you can't manage your own cash without help ?

Who are you talking to?

 

[NY_Yankees_Fan]

FYI......Federal law also protects you if you need to dispute charges on a credit card, but not if you use a debit card or other forms of payment. If you paid cash or used a debit card, the retailer already has your money. So you have a lot less leverage, and there’s no guarantee you’ll get that money back. But if you pay for something with your credit card and aren’t happy with the purchase, your card issuer can legally withhold payment from the retailer until they resolve the dispute, and you won’t be charged.

They also provide more protection if someone steals your card or bank information. If you notice a fraudulent charge on your credit card account, you can call the card issuer, make a dispute claim, and the charge should be removed from your balance. But if thieves steal your debit card information and use it, it may take weeks for the bank to investigate your claim and replace the lost funds. In the meantime, you may have to deal with a dwindling bank balance or bounced checks.

 

[Grumpy Old Man]

FYI......Federal law also protects you if you need to dispute charges on a credit card, but not if you use a debit card or other forms of payment. If you paid cash or used a debit card, the retailer already has your money. So you have a lot less leverage, and there’s no guarantee you’ll get that money back. But if you pay for something with your credit card and aren’t happy with the purchase, your card issuer can legally withhold payment from the retailer until they resolve the dispute, and you won’t be charged.

They also provide more protection if someone steals your card or bank information. If you notice a fraudulent charge on your credit card account, you can call the card issuer, make a dispute claim, and the charge should be removed from your balance. But if thieves steal your debit card information and use it, it may take weeks for the bank to investigate your claim and replace the lost funds. In the meantime, you may have to deal with a dwindling bank balance or bounced checks.

Two different schools of thought ,I'm 6'3" and 260 lbs I've never really had to deal with not getting what I want . I buy wholesale and never pay retail for anything ever .that's all the leverage I need .

 

[MossRoad]

Two different schools of thought ,I'm 6'3" and 260 lbs I've never really had to deal with not getting what I want . I buy wholesale and never pay retail for anything ever .that's all the leverage I need .

Buying wholesale is illegal unless you are using a business to purchase. And then if you are using a business to purchase, and using it for personal use, that is illegal too, which goes back to my question about being a tax cheat.

 

[Grumpy Old Man]

Buying wholesale is illegal unless you are using a business to purchase. And then if you are using a business to purchase, and using it for personal use, that is illegal too, which goes back to my question about being a tax cheat.

Let's see you've called me a tax dodger then a tax cheat whats next ?

 

[NY_Yankees_Fan]

Use cash avoid all the hassles , Are you so incompetent you can't manage your own cash without help ?

I use reward credit cards for EVERY purchase. In 2012 the credit card companies gave me $1,256 in cash back for using the credit card. As with others on TBN I pay off the balance every month. I have not paid a credit card fee, interest etc in 20 plus years.

Cash used to be king before they invented cash reward credit cards. :thumbsup:

 

[Redneck in training]

I heard a story about 15 years ago about one local rich farmer who did business with same little local bank all his life more or less on informal basis. Then something changed and they refused to lend him money. It pissed him off so much that he bought the bank and fired the banker.

 

[chopped]

I learned a new word today. Thanks!

Parsimonius
parsimonius
parsimonius.

I like it! :thumbsup:

ME TOO
Pronunciation of parsimony - how to pronounce parsimony correctly.
Have never heard it but it sounds like royalty I will stay with what people call me now."Cheap Bastaxxrd).lol:laughing::laughing::laughing::laughing::laughing:

 

[ultrarunner]

No one "needs" a bank or credit union pay cash live within your means ! if you have to finance it you can't afford it , and the fools who go out to dinner and use a credit card are just dumb as dirt , It's a fuuny thing how easy it is to spend what you don't have by using that little plastic card ,,If you had to pull cash out of your pocket all day long you would not be spending 1/2 as much as that little card .

I appreciate your sentiments on many levels...

Just want to point out not have a bank or credit union is not an option for me if I want to get paid.

My employer requires direct deposit...

 

[Redneck in training]

I heard a story about 15 years ago about one local rich farmer who did business with same little local bank all his life more or less on informal basis. Then something changed and they refused to lend him money. It pissed him off so much that he bought the bank and fired the banker.

Just recalled his name: Garst. I think he is a brother of the founder of Garst seed.

 

[JDgreen227]

I use reward credit cards for EVERY purchase. In 2012 the credit card companies gave me $1,256 in cash back for using the credit card. As with others on TBN I pay off the balance every month. I have not paid a credit card fee, interest etc in 20 plus years.

Cash used to be king before they invented cash reward credit cards. :thumbsup:

$1256 in "cash back"? What % do those cards give you as a reward? I am not sure how much I could get as cash back if I used such a card, because the only real expenses I have that a card could be used for are groceries and gasoline and diesel fuel. Last year I spent $4340 on groceries and $860 on gasoline and diesel fuel. So, $5200.00 total. My Chase card gives me a whopping 1% cash back on purchases. The thing is, because I pay cash for groceries I am much more careful about what I am buying. Pay cash and I will buy ground round. Charge it, and I would probably buy T-bones and shrimp cocktail which I cannot afford. :laughing:

 

[NY_Yankees_Fan]

JD when I say everything I mean everything, cup of coffee and donut, $3.00 on the credit card, college tution, on the card, eletronics, on the card, travel, on the card, eat out, etc, etc. Wife does the same it really does add up. Depending on the card it can vary between 1-5%.

 

[dmccarty]

JD when I say everything I mean everything, cup of coffee and donut, $3.00 on the credit card, college tution, on the card, eletronics, on the card, travel, on the card, eat out, etc, etc. Wife does the same it really does add up. Depending on the card it can vary between 1-5%.

We charge everything as well, except for utility bills which we could pay via CC, but it would require more effort than it is worth. We have several CC's that we use to maximize cash back and these cards save us a bunch of money. If we paid by cash, we would be loosing money. We no longer use the debit card since there are no protections on it like there is with a CC.

I was in a work meeting a couple weeks ago, and of the half dozen people there, all had had fraudulent charges placed on their CCs. They were protected because they were using a CC. If the fraudulent charges had been on a debit card, they would have be SOL.

One can save a bunch of money using the certain CCs. Furthermore, we save a bunch of money by ordering online. Amazon requires the use of plastic one way or another. We certainly cannot buy what we need locally. Even simple things like canning tools that one would expect to be kept in stock in a rural area.

Later,
Dan

 

[Gale Hawkins]

My cu just announced an end to free overdraft protection, and increase to the interest. I called to ask why but couldn't get an answer, other that its not as much as other banks. I reminded them they exist because of their members, they are not a bank. Their loan rates are no longer competitive. I've been with them 30 yrs but am looking at another cu. the soap box is now available for someone else.

Free is not free any more it seems. Things have changed for these folks so they are being forced to give away less/charge more these days from what I read.

 

[kenmac]

Use cash avoid all the hassles

I'm with you, Play with snakes long enough and you will get bitten.It only takes 1 mistake,Your payment don't make it in on time (for what ever reason) some clerk on their end doesn't enter your payment correctly,etc,etc,. To each their own, That's what's makes the world go around

 

[JBourquin]

JD when I say everything I mean everything, cup of coffee and donut, $3.00 on the credit card, college tution, on the card, eletronics, on the card, travel, on the card, eat out, etc, etc. Wife does the same it really does add up. Depending on the card it can vary between 1-5%.

I do the same, as much as I can anyway. Just over $25k on my Discover card last year. $0 paid in interest. Paid in full every month.