Why you should dump Chase for a credit union

In response to a recent post of ours on how Chase is doing away with the “free” part of the former WaMu free checking accounts, came this comment, which so beautifully lays out a case for why Chase is worth dumping for a more reasonable financial institution, like a credit union.

I got my Chase letter too.  As soon as Chase took over WAMU, I closed my savings account because it went to .01% (thats $1 a year for $1000 deposit) from 1.75% with no notice.

One thing to watch out with Chase when you close an account with them: the account data is IMMEDIATELY removed from the internet.  You can’t get any information or statements without paying Chase, after you close the account.  Make sure you print everything you might need before closing it.

I have one item left at Chase, a credit card I’ve had for over 10 years.  I wonder when they will get me to close that as well with some stupid new program or fee.

I use my local credit union for almost all of my financial stuff now, after WAMU disappeared into the great Chase bank vault, so I really won’t even notice not having a Chase account for ATM use, since I have several credit union ATMs nearby.  I can’t ever see why I would trust ANY of the big banks with any significant money every again.

1 Comment

  • By Frank, December 29, 2010 @ 4:03 pm

    Found a way to really piss Chase reps off…when they call you and inform you they are going to record the call; tell them it is OK as long as you can also record the call. They will tell you “you are not authorized to do that” and then terminate the call if you insist.

    This is from the same company that told me I could no longer use cash to pay my mortgage. When I asked for the policy being referenced (so I could give it to my lawyer) they quickly recanted.


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