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Banks, Credit Unions, and Fees: Oh my!

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  • Guest's Avatar
    Guest replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by pirate View Post
    If banks didn't pay taxes and didn't have to spend anything on CRA then you'd likely see more happy bank shareholders.
    Fixed

    Leave a comment:


  • Handyman
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Yeah if Banks had their taxes ended tomorrow they would not change anything. It is like the idiotic idea of having gas tax holidays...why would the gas company drop the price when they know people will pay it as is. They already shifted the burden to the customer anyways.

    Same holds true for the banks...they would do nothing but protect their bottom line.

    Leave a comment:


  • Bob Gray
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by unofan View Post
    Right. Because Potter's Bank was the hero and Bailey's Savings and Loan was the villain in It's a Wonderful Life, right?

    The ability of society to repeat its mistakes never ceases to amaze me.

    I say this as a customer of Wells Fargo (though, again, without any loyalty - as soon as they try to fark me, I'm gone).
    I find myself agreeing with unofan!

    Leave a comment:


  • unofan
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by pirate View Post
    If banks didn't pay taxes and didn't have to spend anything on CRA then you'd likely see more happy bank customers.
    Right. Because Potter's Bank was the hero and Bailey's Savings and Loan was the villain in It's a Wonderful Life, right?

    The ability of society to repeat its mistakes never ceases to amaze me.

    I say this as a customer of Wells Fargo (though, again, without any loyalty - as soon as they try to fark me, I'm gone).

    Leave a comment:


  • pirate
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by nmupiccdiva View Post
    Ruse or not, I was paid last month for using my card, and don't get charged any ATM fees. Ruse or not, I'm satisfied, which seems to be better than those who use the banks are feeling right now.
    I am not saying it is a ruse, I googled CU's and that is one of the top 5. That most of the top finds are from the CU industry wasn't lost on me...they appear to have a pretty good campaign of trying to keep their view at the top of the search results.

    They should defend their turf if the claims on that 1 website are accurate...the one thing that will really help is that many CU's support the largest workforce in america: state and federal employees. Now, I'm not saying that government employees are the largest special interest in the country and have a direct connection to those who make the rules...but some might say that;-)

    If banks didn't pay taxes and didn't have to spend anything on CRA then you'd likely see more happy bank customers.

    Leave a comment:


  • ScoobyDoo
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    My favorite part is how the banks tried to destroy the entire world economy and now this is how they "get back on track". It's funny.

    Leave a comment:


  • Guest's Avatar
    Guest replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by joecct View Post
    Do we get in this much of a palaver when our local or state government raises "fees" to cover shortfalls in revenue?
    If my town tried to raise fees there would be an armed revolt. The most vocal people in my town are morons.

    Leave a comment:


  • joecct
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Do we get in this much of a palaver when our local or state government raises "fees" to cover shortfalls in revenue?

    Leave a comment:


  • Bob Gray
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by CLS View Post
    If the Credit Unions were to start getting taxed, they may or may not start charging fees for ATM/Debit card transactions and the like.

    One thing I'm sure of, though. If Banks were taxed like Credit Unions are now, they would not start offering the free services I get offered now by my Credit Union. If they can charge for checking accounts, they will. If the income from debit card fees exceeds the lost business due to less debit card usage, they will continue to charge it, whether or not Credit Unions get taxed.


    The big winner if Credit Unions were to start getting taxed like Banks would be Banks, not consumers
    Well said. Over the years when I've dealt with the big banks, it's been nothing but headaches and fees. How Wells Fargo stays in business after the bumbling people I've dealt with there, I'll never understand. By contrast, my credit union is very good to work with. Why anyone goes with the big banks is beyond me, other than just liking that they have branches everywhere.

    Leave a comment:


  • FlagDUDE08
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    It's amazing the number of commercials I now see out there for banks that tout "Free checking", "No ATM fees", "Talk to a real person", and things like that. Actually, Ally just recently started a rewards program. I suppose it helps if you're silent partners with a company that facilitates automobile loans.

    So long as there is a sucker born every minute, people will continue to accept all of these fees.

    Leave a comment:


  • CLS
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    If the Credit Unions were to start getting taxed, they may or may not start charging fees for ATM/Debit card transactions and the like.

    One thing I'm sure of, though. If Banks were taxed like Credit Unions are now, they would not start offering the free services I get offered now by my Credit Union. If they can charge for checking accounts, they will. If the income from debit card fees exceeds the lost business due to less debit card usage, they will continue to charge it, whether or not Credit Unions get taxed.


    The big winner if Credit Unions were to start getting taxed like Banks would be Banks, not consumers

    Leave a comment:


  • goldy_331
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by pirate View Post
    Without investigating fully, I tend to agree with the idea of taxing CUs. Even though I belong to and benefit from a CU, I agree they should be taxed like other businesses. No reason I should get a subsidy.

    Leave a comment:


  • nmupiccdiva
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Ruse or not, I was paid last month for using my card, and don't get charged any ATM fees. Ruse or not, I'm satisfied, which seems to be better than those who use the banks are feeling right now.

    Leave a comment:


  • pirate
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    http://www.creditunionruse.com/

    Leave a comment:


  • nmupiccdiva
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    I had a credit union account when I was growing up, went bank in college (and got royally screwed by these more times that I can count), and switched back to a CU when I moved to Duluth. I couldn't be happier with this CU and am glad I switched back.

    Leave a comment:

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