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View Diary: San Jose: Millions Withdrawn from Bank of America and Wells Fargo! (288 comments)

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  •  We have used Credit Unions for past 26 years (7+ / 0-)

    We have done our primary banking business only with credit unions for almost three decades. We have always been treated well, and not hit constantly with outrageous fees.

    The only business we did at least three times with a local bank was our mortgages. We bought and later refinanced twice with one local bank that offered historically low rates (at the time), and their fees were very reasonable. We were fortunate in that it was a bank that had been long in the community, and had not been gobbled up by one of the mega banks, although I think that actually finally happened a few years ago.

    Doesn't matter. We popped enough out of my wife's retirement stock portfolio about a month before the 2008 collapse, and paid off the mortgage. Never was the value of an investment taken and used in such a timely fashion.

    FWIW, we made that decision because we read sites like DailyKos where one can find information that tends to be reality based about the economy.

    As much as I loath Bank of America, I do have a credit card with them which I have used over the past decade for a hobby business, and through which I have probably run between 50 and 60 thousand dollars borrowed and paid back always within 12 months, always on special low rate deals. I think I still have a purchase rate of under 10% on that card, believe it or not. I have not used it in some time as I am not working as actively on that hobby business right. If BOA chooses to ramp up rates and fees on that card, I will cancel it without a moment's hesitation.

    "You've got to be very careful if you don't know where you are going, because you might not get there." “When you come to the fork in the road, take it.” --Yogi Berra

    by HeartlandLiberal on Thu Oct 13, 2011 at 08:19:39 AM PDT

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