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6/5/2007 12:41:16 PM

the etrade checking thing sounds good except:

Quote :

"A $100 minimum deposit is required to open a new account. Account holders must maintain a minimum average monthly balance of $5,000 to avoid a $15 monthly fee. This fee will be waived if the account holder 1) sets up a direct deposit of $200 or more per month, 2) maintains at least $50,000 in combined E*TRADE Bank deposits, or 3) maintains a combined balance of $50,000 or more in linked E*TRADE Securities, E*TRADE Bank accounts, and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock), or executes at least 30 stock or options trades during a calendar quarter."

I don't want to keep $5k in 3.25% APY when I could have most of it in 5.05% APY savings.

Of course, the $200 direct deposit could save you...

6/5/2007 1:02:42 PM

I moved my money from BoA to SECU after I became a state employee. I was keeping about 2k in my checking for emergencies, but now that money is in the money market secu account making 4.5%. I still have a BoA checking account since I have a mortgage w/ them and its free, but its only got $50 in it. I do use my BoA visa, which gets points, to pay for just about everything-- I havent really had a problem w/ BoA, but its nice to make some money on my savings, and its real easy to transfer money from savings to checking and back online...they dont charge any fees.

6/5/2007 1:08:53 PM

I have heard from some friends who got over screwed over by this that SECU does not report to the credit bureaus (or at least not in the same way that normal banks do). Basically they have been using SECU credit cards for years, having good spending habits for years and as they explained it, they have no credit history. Can anyone confirm or deny this? I would have to get more details from them to better explain exactly what happened.

6/5/2007 1:15:57 PM

An oh-so-current Wachovia story

6/5/2007 1:50:01 PM

I used to have Wachovia and was never unhappy with them, but SECU seemed to have some better rates and fewer fees so I switched over. There’s also a SECU right beside where I work, so it’s convenient for me.

SECU is convenient for while living here, and I like the idea of supporting businesses/companies in my home state. Wachovia started in Winston & is now based in Charlotte, & since I’ve had them before, I’d be willing to go back in I move out of state down the line.

Quote :

"Wachovia (Pronunciation: wah-KO-vee-yah) was the area first settled by Moravians in what is now Forsyth County, North Carolina, including the present city of Winston-Salem. The name is the Latin form of the German "die Wachau," the name of a lush green region along the Danube River which the settlers felt the land resembled."

6/5/2007 2:22:51 PM

^ explains the logo

6/5/2007 3:29:16 PM

Quote :

"I have heard from some friends who got over screwed over by this that SECU does not report to the credit bureaus ("

i'm pretty sure my SECU credit card was on my credit report when i checked in april

6/5/2007 3:29:38 PM

Quote :

"I have heard from some friends who got over screwed over by this that SECU does not report to the credit bureaus"

SECU only reports to Equifax. I'm not exactly at liberty to explain why; I can just say that while the downside is not having your good credit with SECU reported on your TransUnion and Experian credit reports, the upside is huge for a large portion of the membership.

As for the ATM's, SECU does have a $0.75 charge for any completed transaction at a foreign (non-Cashpoints) ATM and $0.35 for any incomplete transaction.

If you're eligible for membership, it's a smart idea to at least open up a $25 share account. It could end up saving you thousands of dollars in interest on an unsecured personal loan, car loan, mortgage loan, etc.

I can answer pretty much any question if anyone else has any...

6/5/2007 8:18:25 PM

Does anyone actually have etrade?

6/5/2007 11:20:02 PM

Who said the money markets get 4.6%? I've only ever seen 4.5. And I've noticed my Visa-linked SECU card isn't reported to Experian.

6/6/2007 10:09:22 AM

Quote :

"Money Market 4.50 / 4.60 APY"

6/6/2007 10:13:09 AM

^^http://www.ncsecu.org/RatesAndFees.aspx?page=9&item=0&name=cntlDepositRates


[Edited on June 6, 2007 at 10:16 AM. Reason : -]

6/6/2007 10:15:43 AM

Oh, I was thinking interest rate instead of APY.

6/6/2007 10:32:12 AM

Quote :

"Does anyone actually have etrade?"

I do. It rocks. No ATM fees whatsoever, and ACH transfers are completed w/in the same day (even from external accounts!)

As a small bonus, you can get $25 each for opening a checking + savings account right now.

Quote :

"Of course, the $200 direct deposit could save you..."

The Direct Deposit does in fact save me, $200 should be pretty doable for most of you.

6/6/2007 11:34:35 AM

What about Coastal Federal Credit Union?



I am eligible as an employee of my company to get an account there, and one of my coworkers has hers there, and says they're really good, but I'd like more feedback.

6/6/2007 7:17:04 PM

i thought about etrade but $5k sitting at 3.25% changed my mind. i also like being able to go in and talk to someone in person when i have questions.

6/6/2007 7:29:52 PM

Quote :

"5k sitting at 3.25% changed my mind"

you don't have to leave 5k at 3.25%. There are no fees if you setup a monthly Direct Deposit of at least $200.

6/7/2007 8:25:50 AM

I just noticed, you can get PDF's of that Grassroots Newsletter things theys end out every so often
http://www.ncsecu.org/Resources.aspx?page=0&item=0&Name=cntlNewsletters

6/7/2007 8:52:34 AM

^They send out a Grassroots Newsletter every month with your statement. I guess they started providing the pdfs for people that have opted out of getting their monthly statement in the mail. Nice.

6/7/2007 8:59:57 AM

Quote :

"SECU only reports to Equifax. I'm not exactly at liberty to explain why; I can just say that while the downside is not having your good credit with SECU reported on your TransUnion and Experian credit reports, the upside is huge for a large portion of the membership."

can you explain that part to me?

6/7/2007 9:03:08 AM

I think the point he was trying to make is that the pros hugely outweigh the one con.

6/7/2007 9:13:13 AM

i want to know what the pros are

6/7/2007 10:26:43 AM

Interest rates much higher than the national average and higher than nearly every brick and mortar bank you will find.

6/7/2007 10:31:39 AM

^^ have you not read this thread?

6/7/2007 11:12:58 AM

He's asking why SECU doesn't report to credit agencies. I'm curious myself, but the guy that said it said he can't explain it.

6/7/2007 11:13:44 AM

^ thats not what it sounds like, but it doesn't matter anyway

im pretty sure my car loan thru SECU shows up on all three of my credit reports...but i'll check

6/7/2007 11:15:43 AM

Maybe they report all loans, but not debit card history.

6/7/2007 11:16:36 AM

u mean credit card history right? debit cards don't count for anything.

6/7/2007 11:18:29 AM

yes

6/7/2007 11:19:16 AM

Quote :

"He's asking why SECU doesn't report to credit agencies. I'm curious myself, but the guy that said it said he can't explain it."

of course thats what i'm asking. what the hell are the pros of secu not reporting to all three credit agencies unless you're a deadbeat who doesn't pay their bills?

[Edited on June 7, 2007 at 11:22 AM. Reason : *]

6/7/2007 11:22:29 AM

You have part of the answer already. Another thing to consider is that every time you get a credit card, your potential credit goes down.

6/7/2007 11:26:13 AM

Plus lenders may be worried if you have too much credit available, so it would be a pro if you already had a lot of credit.

6/7/2007 11:34:56 AM

Quote :

"what the hell are the pros of secu not reporting to all three credit agencies unless you're a deadbeat who doesn't pay their bills? "

I don't think anyone called it a pro, they were referring to all the general pros of membership....the reporting thing is a con, but a small one con compared to all the pros. Like David said it would only be a pro if you wanted to hide an account from (2 out of 3) of the credit agencys

[Edited on June 7, 2007 at 11:50 AM. Reason : V who are you referring to?]

6/7/2007 11:38:45 AM

You gotta read the thread.

Quote :

"SECU only reports to Equifax. I'm not exactly at liberty to explain why; I can just say that while the downside is not having your good credit with SECU reported on your TransUnion and Experian credit reports, the upside is huge for a large portion of the membership."

6/7/2007 11:42:22 AM

Cheaper to report to only one?

6/7/2007 11:47:11 AM

So am I to infer that a large portion of SECU members don't pay their bills on time & consider it a huge upside to not have their credit reported to the other agencies? I'd really like to hear from DSI again.

[Edited on June 7, 2007 at 11:53 AM. Reason : *]

6/7/2007 11:53:06 AM

^You need to re read what people are saying. They are saying that all the pros of membership (high interest rates on their accounts, less fees, etc., etc.) outweigh the con of not having them report to the other agencies. I don't think anyone is saying that not reporting to those agencies is a pro.

[Edited on June 7, 2007 at 12:05 PM. Reason : -]

6/7/2007 11:58:28 AM

Yeah. I think Greg just poorly worded his post.

6/7/2007 11:59:14 AM

I don't care about the pros & cons of secu membership. I want to know why they don't report to the other two credit agencies & I'm hoping its not purely to protect members with bad credit. I apologize for not making that clear.

[Edited on June 7, 2007 at 12:17 PM. Reason : *]

6/7/2007 12:15:34 PM

i worked at the NCSECU and let me be the first to tell you that a shit load of members there have absolutely terrible credit scores and history.

6/7/2007 1:17:42 PM

What do you expect? They are state employees. They probably don't even make a living wage

[Edited on June 7, 2007 at 1:30 PM. Reason : -]

6/7/2007 1:29:34 PM

^^ so you are saying that banks don't have lots of members with shitty credit history? also, it is poor form to publicly say things like that even of you don't work there anymore.

^ you can't be serious. i would be willing to bet that most accounts there were aquired by people that have family that work for the state. i got 5 accounts there for family members and myself, and i am the only one to work for the state. not many state jobs pay you like shit. if you have a salary with the state you are making pretty decent money at least. teachers always complain about pay, then come to find out that most teachers make around 32k/yr. i know this is not a high paying job, but it is more than enough to live off of, especially of you are married.

[Edited on June 7, 2007 at 1:38 PM. Reason : sth]

6/7/2007 1:34:46 PM

That's the second time this week someone has taken me seriously even after using " "

Which emoticon means you are kidding around?

6/7/2007 1:39:20 PM

6/7/2007 1:40:04 PM

this one :i am fucking retarded:

[Edited on June 7, 2007 at 1:45 PM. Reason : sgh]

6/7/2007 1:40:49 PM

Quote :

"^^ so you are saying that banks don't have lots of members with shitty credit history? also, it is poor form to publicly say things like that even of you don't work there anymore. "

thanks jack ass

6/7/2007 2:29:49 PM

A lot of places choose to only report to 1 of the credit bureaus. Just like a lot of CC companies only pull 1 of your reports, rather than all 3. It doesn't matter, shit all pretty much ends up the same anyway. Unless there is incorrect data, all your reports will be in the same range.


Debit cards don't build credit. Also, paying your cell phone bill + energy bills doesn't count towards your credit profile (I hear this ALL the time from people). NOT paying them will affect your credit rating, however...


I think it's hardly in 'bad form' to post that most of SECU patrons are financial morons. MOST people in this country have shitty credit history + almost no funds. Americans are stupid about money management.

[Edited on June 7, 2007 at 2:34 PM. Reason : d]

6/7/2007 2:33:29 PM

Quote :

"I think it's hardly in 'bad form' to post that most of SECU patrons are financial morons. MOST people in this country have shitty credit history + almost no funds. Americans are stupid about money management."

^ you must be foreign or stupid.

Quote :

"Also, paying your cell phone bill + energy bills doesn't count towards your credit profile (I hear this ALL the time from people). NOT paying them will affect your credit rating, however..."

WOW ... it keeps it from going bad and you just said that. THATS why it helps you credit idiot.

[Edited on June 7, 2007 at 2:37 PM. Reason : zfx]

[Edited on June 7, 2007 at 2:38 PM. Reason : sdtgh]

6/7/2007 2:37:06 PM

me? an idiot? c'mon...


The average savings rate for American households fell down to less than 1% a couple years back.... right, that's smart money management!

The U.S. economy practically RUNS on consumer debt.

and sorry, but paying your bills on time does NOT help your credit. People expect to be able to obtain credit simply because they've paid their cable bill on time, THAT SHIT WILL NOT FACTOR IN WHATSOEVER. try again.

try not to get so defensive, I simply don't agree with your assertion that it's bad form for him to post something like that. get over yourself.

[Edited on June 7, 2007 at 2:47 PM. Reason : d]

[Edited on June 7, 2007 at 2:48 PM. Reason : d]

6/7/2007 2:46:50 PM