A former FDIC employee writes that the FDIC’s call center (877-275-3342) is “a tremendously helpful place to get basic referral information if you’re having trouble with your bank, lender, or finance company.” They can’t help you with complaints, but they can route you to the correct agency, provide credit union contact info, and give you the names and numbers of state agencies where your bank is located.
My adjustable rate mortgage with Verity Credit Union is due to reset next month. As part of the note there is an option to convert to a fixed rate. The calculation of this fixed rate is clearly defined as equal to Fannie Mae’s required net yield for a 30 year fixed rate covered by an applicable 60-day mandatory delivery commitment plus five-eighths of one percentage point, rounded to the nearest five-eighths of one percentage point. So take the Fannie Mae 30 year 60 day rate add 5/8ths and round to the nearest eighth. The note said the note holder got to decide the day of the rate but Verity was nice enough to let me pick which day I wanted as long as I gave them 15 days notice before the reset date. I patiently watched the rates every day and fortunately right before I was to give them notice rates were steadily declining…
Here’s a little free advice from your friends at The Consumerist: Don’t deposit bags of meth at the ATM. You don’t get any interest and they’re probably going to figure out who are after they see your name and account number.
That’s a lady who is finally digging herself out of a payday loan hole with the help of a “non-profit” payday loan. At one point, Truckey was paying $600 a month in finance charges alone. Now she has a new loan through GoodMoney, operated by local credit union. The new loan’s APR is only 252%, about half what she was paying before.
Paula wrote to BC credit union to let them know their website gave her inaccurate directions to a nearby ATM. Within a few days, she received a personalized apology note and a little something extra.
Boom: they get angry and they sent many letters…
Carl spent some time selling Kias at a dealership in Colorado, and has written in with a few insights about Kia, selling cars, and some buying strategies for you. Some highlights:
A restaurant chain with a store in Mesa offers to accept Mexican pesos for pizza and receives threats at its Texas headquarters.The state’s largest credit union is bracing for similar fallout as it begins marketing savings accounts to undocumented immigrants.
Reader Jim Walls offers this advice about how to avoid banks entirely, but going to its socialist equivalent, the credit union. We thought it was an interesting, succinct explanation on why you might want to look at credit unions as the panacea for all our banking problems.