Banking… how things have changed

[2manyrocks]

For all the technology and policies used to protect banks from paying out money to the wrong people, they still manage to lose a heck of a lot of money making really, really stupid loans.

 

[newbury]

I miss (slightly) rolling coins in wrappers. Throughout my youth I had coin rolls on my dresser, from pennies to half-dollars, gradually filling them up and cashing them in. In the early years it was money from collecting soda bottles along the roadside, 2 cents at a time. Then over the years it became pocket change.
Now with 6 grandchildren we have a line of piggy banks on the mantel that get fed.

 

[grsthegreat]

I too in younger days liked rolling coins. But not as much as banding 100’s

 

[two_bit_score]

For all the technology and policies used to protect banks from paying out money to the wrong people, they still manage to lose a heck of a lot of money making really, really stupid loans.

Most of those are encouraged, if not actually mandated, by the Federal government.

 

[Oaktree]

You're right about that. Some of the people have changed over time, but when I first started going there I didn't even have to tell them my account number.

I'll bet that's just more "small town" than credit union-specific. I've been banking at the same local bank for 18 years now and no one asks me for credentials there either.

 

[wilso]

We also use only online banking. Btw, just realized the last time I visited a bank was before the quarantine. Since I installed a dave banking app, there is no need to go anywhere, at least I haven't faced any issues that would require my physical presence in the bank.

 

[ultrarunner]

When mom passed away it was over 8 hours in visits at US Bank to unfreeze the accounts… I was told no way without being there in person and I’m well known at the branch.

Credit Union about 15 minutes max for the same thing and I’m not well known.

The bank ran a 4.25 money market special and still advertises it but won’t tell you when it ends but I found out my 4.25 dropped to 2% 60 two cycles later.

Kind of shady and when I asked reviewing the US Bank statement I was told limited time to which I said you are still advertising???

 

[2manyrocks]

Repealing the prohibition on interstate banking wasn't a good idea for consumers or bank regulators, either.

 

[grsthegreat]

I dropped my last bank account about 2 years ago….or about then.

A branch of the credit union i belonged to moved into my town. Moved all my business accounts and some household accounts there. I also have accounts in 2 other credit unions.

I have 6 separate cd’s earning at minimum 5% right now spread between them.