MADISON, Wis. (7/15/09)--A blogger on Salon.com
is in love with her "bank." "I love my bank! I'm dancing with adoration for this place that holds my money for me." The only trouble is--her "bank" is actually a credit union. If credit unions can get past the word "bank" as the Jess D. Facts blog raves about the unnamed credit union, they'll find this love letter provides examples of what credit unions do that banks don't and just how far credit unions will go to help a member in trouble. For example:
* When a workplace mixup results in her company depositing the wrong amount, the blogger accidentally deducts her car payment--twice--from her account. She needs that second payment for another bill. She calls the credit union first thing in the morning, explains the mixup and says she forgot to turn off her automated car payment. Then, "I asked if I could have my money back." After a pause and some tapping on a keyboard, the member service rep said, "Okay, there, it's done." The rep told her she'd noticed the problem and was going to call the member later that morning "in case today was one of your days off. I wanted to let you sleep in." * In May her husband used his ATM card near where he works, which is in a "shady part of town," said the blogger. The credit union called his cell phone to find out whether the transaction was legitimate, but he didn't answer. So the credit union called her. "Because he didn't answer his phone, they were now concerned for his life and didn't care anymore about the money." * In 2004, the blogger was laid off and couldn't pay her car loan, which was almost paid off. She didn't call and explain the situation "because I didn't have any money." During the period, she lost her house, but "I kept driving that car. The bank [credit union] never tried to contact me about that loan." Two years later, when she was rehired to her old position, she went to the credit union, embarrassed that it had been so long since she had made a car payment. "The woman in charge of loans listened to my apology and smiled. 'We knew you'd be back,' she said. She helped me set up the payments to come out of my check like it had been before." The blogger noted the car loan problem never made it into her credit report. "I love my bank," she said.
The blog generated a number of comments, including this one: "I feel the same way about my credit union. They are so much better at personal service than banks, I can't imagine why anyone who has access to a credit union would go anywhere else." To read the blog and comments, use the resource link.