Join a Credit Union

If you want to get credit you have 2 ways. You can become a member of credit union. It is nonprofit cooperative organization that provides banking and financial services, including mortgages, home improvement loans and home equity loans, to their members. Another way is to apply to credit card company and step by step build credit history. At the first you can only obtain credit card for no credit. If you would be responsible user in the future you will become an owner of good credit card with different benefits. Credit card companies offer different credit programs: credit cards with rewards, balance transfer credit cards . I prefer to use credit cards, but several my friends are members of credit unions. I don’t know what is better everybody choose according to his taste and individual needs.

It only took three months. Whew! I had to get some additional papers from a bank I formerly had an account with. That’s what was holding up my application (a long story), but the branch manager at USA Federal Credit Union approved my savings account today. Now I can set up direct deposit from payroll. Once there’s a bit of money in the account, I’ll get checking and a debit card. No more banking for me. I’ve joined the credit union.

and have had some monies here for years.

I used to work for one. Just check that the fees actually are lower than other banks… many credit unions are struggling due to their size and have to charge lots of little fees to get by…

There’s a credit union for Commonwealth Public Service Union members (and possibly other people / other union members too) called Member’s Equity, which I’ve heard good things about… would be interested in hearign anyone’s stories about this, as I’m thinking about moving the home loan and everything else across to this – banks suck.

I thought today was the day I would nail this goal… not. I went down to the Credit Union, handed in the completed application, showed my IDs, chose the kinds of accounts I wanted to set up, thought it was a done deed … when my application was rejected. A certain bank that I’d had some problems with in the past had posted something on the interbank exchange that caused the Credit Union to put a stop on the app. If I want to proceed, I need to get a letter from the bank saying all is well. sigh

This stumbing block isn’t impossible to overcome, but the situation is demotivating. This objective just sunk a bunch of notches on my list of priorities. And that’s too bad. I had hoped to be done with this and moving on.

I got my application two weeks ago, but I have not submitted it yet. Should be a slam dunk. I qualify by virtue of where I work. I think I’m feeling guilty about depositing only $20 to start. Seems so small. I know that mighty oaks from little acorns grow. My problem is choosing the acorn to start with.

I got a call last week confirming that my application had been received, but that the credit union needed to confirm my employment details. Because they’re industry specific, they only allow people of certain professions to join.

Anyway, I must have checked out, because I received my new account number, card and a bunch of other stuff today. So I am now a member of a credit union!

Most importantly, this means: no more bank fees, ever. :D

I sent off my application form today. I finally found someone to witness my identity – now I am just keeping my fingers crossed that they accept me. I can’t wait to get rid of my bank!

While I support local organisations, the real key for me is that, once I finish university at the end of the year, I’ll be paying $5+ a month just to have a bank account at my current bank. Which is rubbish, frankly. No thanks!

I’ve been with this bank since I got my first account, when I was four – but they simply don’t care about their everyday customers. So bye bye bank!

All I’ve got to do is find someone who can verify my identity, to sign my application form for me…