I have banked with several northwest banks and two credit unions over a period of close to 30 years. Not a finance expert by any means. I am however a consumer and have some experience with the horror stories told to me as the nightmares were unfolding at Washington Mutual not long ago.
Recently, the larger banks were the focus of protesting by occupy movements and others. One of the results of the protests were that some people were to close their accounts at big banks and instead open accounts at smaller hopefully local credit unions. I get that Ideal.
I question though, how realistic the idea of local credit unions being able to meet the needs that people have today. I mean, with all the portable devices as well as our mobility. Confidentiality. Security. Legals. Just to name a few.
I am not saying at all, that Credit Unions are a bad Idea. I do suggest that big banks play an important positive part in our communities every day as well.
Some of my worst experiences banking were at Credit Unions. I have belonged to two Credit Unions and for the most part, they were tight wads and for one reason or another were never able to really offer me the products that I was looking for at the time. Looking back at the type of consumer I was then, I think it was a sound policy on their part that they were not able to work with me. Good also, I think for the members of those Credit Unions as a collective. So, the credit union’s did not want to work with me. Nothing wrong with that, just a struggle and not a good experience for me.
While banking at US bank, I had to be very careful to follow all the rules and terms that I agreed to or literally get hundreds of dollars in fees levied against the accounts. It was while banking with US bank that I spent some time in a state that did not have a branch office within two thousand miles. I was then that I needed to open an account at Wells Fargo.
The decision to open the account at Wells Fargo has been one of the best choices I have made.
Wells Fargo has been very up front with me as to what kinds of fees, terms and benefits to the different products offered. That and Wells Fargo continues to be outstanding at suggesting products that are in my best interest. Wells Fargo continues saving me money, and has for the 5 years that I have been with them.
The employees have been splendid, whether in person or over the phone. I cannot say enough about the quality of employees there. Frankly it is nice and convenient to be able to find a branch of Wells Fargo most everywhere I travel, although I do not travel far.
The few times I have volunteered for the community, I have been pleased to see a big presence from Wells Fargo at the events. Exceptional!
My Personal experience has been very positive and I feel quite fortunate to be banking there.