COMMENTARY | I have used credit unions on and off for more than 10 years. A school employees’ credit union financed my first truck with the best rate in town. A few years after paying off that loan, a credit union won my second mortgage business with superior terms and an ultra-helpful loan officer. But Bank of America’s infamous and short-lived decision to burden debit accounts with an additional fee was the last straw. I swore to take all my banking – checking, savings and mortgage – to a credit union. And it was easier than you might think.
The decision to kiss my bank goodbye was years in the making. To put it simply, I grew tired of bankers hounding me with “account reviews” and “special offers” every time I visited a teller to deposit a check or make a counter withdrawal. I grew incredulous that my bank seized on my every visit to attempt to hook me into products in which I expressed no interest. Worse still, the bankers hawked products I didn’t need and sometimes couldn’t afford. My bank’s version of “personalized” banking involved bankers using the ruse of helping with my transaction (often a small check deposit) to lure me into their cubicles and subject me to a 10 minute account “review.”
Like most adults, I’m busy. I go to the bank to hoping to get in and out as quickly as possible. My new credit union lets me do just that, with none of the big bank hassles. And they always have hot coffee for me, too.
My new credit union was ready and waiting to help me make the switch. A credit union banker helped me identify the bills I wanted to switch to my new account and get my direct deposits rearranged. The whole process took less than 30 minutes. The end result? I have a new no-fee checking account (with free checks!).
A personable and efficient credit union staff handles my transactions smoothly. After just two visits, they know me by name. Just like with the big banks, I can utilize online and mobile banking. Banks treated me as an interchangeable customer whose value was tied to his account’s role in the bank’s overall metrics. The credit union treats me like a part-owner by catering to my needs, not their wants. So each visit I get fast transactions, no hassles, friendly treatment – and a hot cup of coffee.
That’s banking as it should be.