Credit Unions & Banks

My friend told me that his banker does his bank reconciliation. He says that the men are lined up for her to reconcile their bank accounts. So a shout out to Mallory Thrush at Oregon First Community Credit Union for helping the guys stay on track with their bank accounts. Funny, I could never reconcile my checking account before computers either.

My experience with BECU was not good. I wanted to buy a car with financing. BECU came in at 4.5%, so did Key Bank, and another place came in at 5%. I chose BECU, since it was a credit union. BECU would only qualify the loan for 30 days, and it took me 4 months to find a car. I was at the dealers, closing the loan, when the loan came in 5%. Just the month before I had gotten a 4.5% qualifying letter. BECU said my credit score had gone lower. My credit score had gone lower because they pulled my score so many times. I could have fixed it, if they had warned me. The .05% difference will cost me $1200 over the life of the loan.

The thing is Credit Unions aren't for profit, so more money is staying in the bank. That means that they are in a position to give more and better loans. That's why I signed up with them in the first place.