Credit Unions

[DarinSchmidt]

I heard the other day that this week was "Switch over to your local Credit Union" week. Has anyone done this? I am a member of WPCU and I couldnt be happier.

I also found this, which I'll be switching over to here shortly. https://www.americafirst.com/personal/checking-savings/health-savings-account/personal-hsa.cfm

I'm waiting to hear back from WPCU to see if they offer anything like it.

[micki]

I'm kind of out of the loop with a lot of this.  What is the benefit to switch from a bank to credit union?  As far as the HSA, there are pros and cons...

[DarinSchmidt]

The benefit of going with a Credit Union is that it helps localy and usually that also means better rates on any loans that you may want to take out and better rates on savings accounts and such. I'm sure there are other +'s, but those were the ones i cared about the most.

From what i read about that HSA account, the money rolls over and anything above your deductable is 100% covered.

[slandis3]

Not a fan of credit unions, will just stick with good old trusty chase bank.

[micki]

Mike we use Chase also that's why I'm wondering what the difference would be.  Why are you not a fan of the credit unions?

[DarinSchmidt]

Not a fan of credit unions, will just stick with good old trusty chase bank.

Trusty chase bank??? Federal Banks dont do much for the individual or the community around you.

Why arent you a fan of Credit Unions?

I had an account with Chase, huge dissapointment. Rates all blew compared to my account with USBank, WPCU has even better rates than USBank. The local Credit union in sidney kind of sucks, but sidney isnt as "rich" of a town/city as Dayton. Figured the credit unions around troy-Huber would do really well.

[micki]

In this economy, I guess I'm just afraid to "change" anything right now.  If it aint broke don't fix it kind of thing.  My son usues WPCU but that's just because he has a loan through them.  The biggest thing I don't like about WPCU is you have to go to Troy to do any in house kind of banking. 

[micki]

My son's company uses HSA and he hates it.  He claims he's somehow getting ripped off but I'm not exactly sure why he feels that way.  He said the same thing last year when they had the "traditional" insurance LOL

[DarinSchmidt]

In this economy, I guess I'm just afraid to "change" anything right now.  If it aint broke don't fix it kind of thing.  My son usues WPCU but that's just because he has a loan through them.  The biggest thing I don't like about WPCU is you have to go to Troy to do any in house kind of banking. 

Thats not true, you can go to any credit union in any city to do any banking.  Or at least most, they are usually on the same network and work together to survive against the fed banks. Does chase give you 7% int on the first $500 in your savings account?

[slandis3]

Just don't like them, on top of the fact they were 2% higher on a refinance loan than Chase.

[Sunny]

We have been with a WPCU for a long time.  Very happy with them.  Loan rates were a lot cheaper.   Bill's work offered the HSA.  From my understanding, it is more for people who are on the healthier side and don't have kids. 

[micki]

Bill's work offered the HSA.  From my understanding, it is more for people who are on the healthier side and don't have kids. 

My son's family is healthy but they have 2 kids.  The kids rarely go to the Dr. other than Well Child check.  He seems to think he is paying more with the HSA, (his company didn't give them a choice).  I'm not sure he fully understands how it works but he is pretty bull headed and of course isn't going to listen to his Mother!  LOL

[DarinSchmidt]

Just don't like them, on top of the fact they were 2% higher on a refinance loan than Chase.

Just dont like them.... 

2% higher, which Credit union did you try? I havent met a Fed bank that could touch the Credit union's rates yet. But my Credit score could be a factor in that.

HSA's are for "healthier" people. But i do have a kid and IF that becomes such a factor that HSA no longer is making the cut, I can always get out of it and spend all that money saved, with interest, tax free, for whatever.

[Sunny]

The rates for the HSA were cheaper than the normal insurance.  They raise the rates every year on the insurance, but not for the people who opted for the HSA. 

[DarinSchmidt]

My son's family is healthy but they have 2 kids.  The kids rarely go to the Dr. other than Well Child check.  He seems to think he is paying more with the HSA, (his company didn't give them a choice).  I'm not sure he fully understands how it works but he is pretty bull headed and of course isn't going to listen to his Mother!  LOL

LOL, it depends on what kind of HSA though too. Some dont roll over which i think is junk, so you are forced to spend every dime you can at the end of the year. It should be allowed to accumulate i think, its your money.

[Viggen]

I have chase... been with the same company since 1921 (I think it was winters bank back then & no I am not 90+ yrs old) when my grandmother worked there.

I haven't been happy with chase for several years now, not helping out the small business owners when they need stuff refinanced.  Seems like the bigger they have become the less they care about people. 

I have wanted to switch for a while.... just haven't pulled the plug yet

[Sunny]

LOL, it depends on what kind of HSA though too. Some dont roll over which i think is junk, so you are forced to spend every dime you can at the end of the year. It should be allowed to accumulate i think, its your money.

Ours rolls over.  We have been on it for over a year now and haven't spent any of it.  I didn't know there were some that didn't roll over, kind of defeats the purpose of saving for it.

[DarinSchmidt]

Well, pull the plug Viggen, you can always cancel the account later if you arent happy with them and go some where else. What i did was opened a CU account and just had some money deposited in there and use them here and there and as soon as i get my car paid off this feb-Apr, I'll be switching over my home loan to them and ditching USBank as my primary account. I'll prob still keep them and have a little bit of money deposited because i have had the account since i was really young, but other than that, I wont miss it.

[micki]

HSA's are for "healthier" people. But i do have a kid and IF that becomes such a factor that HSA no longer is making the cut, I can always get out of it and spend all that money saved, with interest, tax free, for whatever.

Might want to double check that...  You can't get your money out to spend on whatever, it has to be "approved" health related spending.

[micki]

The rates for the HSA were cheaper than the normal insurance.  They raise the rates every year on the insurance, but not for the people who opted for the HSA. 

This year he had no option it was all HSA.  It didn't help that his company was bought out 2 times in 3 months and the insurance changed 3 times.  I think he just has a bittere taste in his mouth over the entire thing. 

LOL, it depends on what kind of HSA though too. Some dont roll over which i think is junk, so you are forced to spend every dime you can at the end of the year. It should be allowed to accumulate i think, its your money.

I think his rolls over.  I'll ask him again sometime, if I dare.... 

[Sunny]

I have chase... been with the same company since 1921 (I think it was winters bank back then & no I am not 90+ yrs old) when my grandmother worked there.

I haven't been happy with chase for several years now, not helping out the small business owners when they need stuff refinanced.  Seems like the bigger they have become the less they care about people. 

I have wanted to switch for a while.... just haven't pulled the plug yet

You can open an account with a Credit Union while you keep your bank.  I was with Peoples while Bill was with the Credit Union. We used 2 different banks for years.

[DarinSchmidt]

Might want to double check that...  You can't get your money out to spend on whatever, it has to be "approved" health related spending.

I think it depends on the type of HSA. My dads allows him to use it for dental and vision, so he doesnt event pay for dental or vision insurance. I'm not sure about the link i provided above on what the HSA covers, is allowed to be spent on, etc, and others dont allow you to roll over the money like my Aunts, which she's always going to the hospital to spend all the money and buying a bunch of medical junk just to spend whats left over.....


Heres a nice article about why to switch to a CU. About 1/2 way down where the images appear on the left side of the page http://abcnews.go.com/Business/WorldNews/credit-unions-54-percent-increase-membership-related-bank/story?id=14897356

[Boonjob]

Wow this thread exploded...*wonder why*....

As for credit unions, they are ok unless you leave the area, or need in house banking out of area, or go over seas, or want share options... i can go on and on... as with anything there are pros and cons with both...  but my rates here(pnc) are just fine the way they are, and the employee account makes it too good to want to move anywhere.

Usbank had better rates on both of the homes I purchased over WPCU... and my credit score was good both times, so that is not a factor at all... On a side note I hate usbank, and closed all my other account with them aside from the mortgage.

As for closing the HSA and spending the tax free money on whatever you want... can I see this written on the plan? I am almost assured this would be illegal... if not I would love to utilize that plan for nothing more than stock piling money into it only to close it out at the end of the year, rinse and repeat.... IRA what? we don't need those we have HSA's that allow you to close them and keep the money

MOST HSA suck, they are slow to pay, they audit your claims almost all the time, they sometimes will lock your account, they wont allow you to roll your funds over at the end, you cant transfer funds from them, and though they are tax free you shouldn't count on the interest. they have pros and cons like all...

[Sunny]

Might want to double check that...  You can't get your money out to spend on whatever, it has to be "approved" health related spending.

That's what I was thinking.  We got different checks with our account.  They have the medical symbol on them and it says Health Medical Checks on them. 

[micki]

I think it depends on the type of HSA. My dads allows him to use it for dental and vision, so he doesnt event pay for dental or vision insurance. I'm not sure about the link i provided above on what the HSA covers, is allowed to be spent on, etc, and others dont allow you to roll over the money like my Aunts, which she's always going to the hospital to spend all the money and buying a bunch of medical junk just to spend whats left over.....

Dental and vision are "approved" to be used for medical.  Tylenol used to be but was taken off I think last year.  The idea of I don't want this anymore so I'll take my money and buy a new TV is not true.  You have to be able to prove you spent the money on "approved" medical supplies, dr. visits etc. per the law. 

That is crazy what your Aunt has to do, what a waste!

[DarinSchmidt]

As for closing the HSA and spending the tax free money on whatever you want... can I see this written on the plan? I am almost assured this would be illegal... if not I would love to utilize that plan for nothing more than stock piling money into it only to close it out at the end of the year, rinse and repeat.... IRA what? we don't need those we have HSA's that allow you to close them and keep the money

Who said anything about closing them? ----- Correction: I c where you missunderstood what i was saying, forgot that i mentioned about switching over to a traditional insurance plan----And when i said that you could spend it on anything, i was refering to anything mediacal as thats what it is, a medical account.

[micki]

Wow this thread exploded...*wonder why*....

As for credit unions, they are ok unless you leave the area, or need in house banking out of area, or go over seas, or want share options... i can go on and on... as with anything there are pros and cons with both...  but my rates here(pnc) are just fine the way they are, and the employee account makes it too good to want to move anywhere.

Usbank had better rates on both of the homes I purchased over WPCU... and my credit score was good both times, so that is not a factor at all... On a side note I hate usbank, and closed all my other account with them aside from the mortgage.

As for closing the HSA and spending the tax free money on whatever you want... can I see this written on the plan? I am almost assured this would be illegal... if not I would love to utilize that plan for nothing more than stock piling money into it only to close it out at the end of the year, rinse and repeat.... IRA what? we don't need those we have HSA's that allow you to close them and keep the money

MOST HSA suck, they are slow to pay, they audit your claims almost all the time, they sometimes will lock your account, they wont allow you to roll your funds over at the end, you cant transfer funds from them, and though they are tax free you shouldn't count on the interest. they have pros and cons like all...

+1

I think the slow to pay and auditing etc. are a lot of my sons complaints.  And you are correct on the withdraw of HSA monies. 

[DarinSchmidt]

Dental and vision are "approved" to be used for medical.  Tylenol used to be but was taken off I think last year.  The idea of I don't want this anymore so I'll take my money and buy a new TV is not true.  You have to be able to prove you spent the money on "approved" medical supplies, dr. visits etc. per the law. 

That is crazy what your Aunt has to do, what a waste!

I wasnt saying that you could go on a shopping spree with it if you decided it wasnt able to protect your family anymore. But that you could stop paying into it, spend the rest on medial stuff till you run out and then pay for a traditional form of insurance.

My dad has a Debit card that he uses for his HSA. SO there is no wait process

[micki]

HSA's are for "healthier" people. But i do have a kid and IF that becomes such a factor that HSA no longer is making the cut, I can always get out of it and spend all that money saved, with interest, tax free, for whatever.

This didn't come across to me that you were going to spend it all on medical expenses, just sayin... 

[DarinSchmidt]

This didn't come across to me that you were going to spend it all on medical expenses, just sayin... 

Yeah, sorry, i should have said spend it on whatever lol, should have been more specific.

[micki]

But that you could stop paying into it, spend the rest on medial stuff till you run out and then pay for a traditional form of insurance.

My dad has a Debit card that he uses for his HSA. SO there is no wait process

Depends on your company, my son doesn't have a choice it's HSA or nothing.  He too has a credit card but still has issues.  We looked into getting HSA for our company and there were just too many loop holes for us to feel comfortable to provide that for our employees.  I think there may be a day when HSA will be our only choice and we will have to bite the bullet and do that, but I'm not sure we are comfortable taking that leap at this time.  Never know what 2012 will bring when it's time to renew though. 

[DarinSchmidt]

I had an HSA when i worked for Northrup Grumman also. But it was kind of odd. They would give you 2k per year, it would roll over, you could put more into if you want to, and they also gave us a medical card (not a debit card) which then we could use, the doctor office would send in the claim and i paid nothing out of pocket, not even a co-pay, and they would send the doctor the money.

There are many types of HSA's out there. You just have to find the one you are happy with if your employer's insurance sucks.

[DarinSchmidt]

The HSA link from that one Credit Union i posted, it has a Visa Debit card, it wouldnt hurt to look into that and see if he would better benefit from that. Unless the Company is forcing him to sign up for theirs somehow.

[micki]

The HSA link from that one Credit Union i posted, it has a Visa Debit card, it wouldnt hurt to look into that and see if he would better benefit from that. Unless the Company is forcing him to sign up for theirs somehow.

Yes he has to use the one the company uses.  When we looked into switching our employees to an HSA, they would have had to go with the plan/group we chose, not just any of them they chose.

[micki]

worked for Northrup Grumman also.

On a side note... A friend of mine just started working for Northrup Grumman about a month ago.  She was working for General Dynamics I think.  Small world!

[slandis3]

I went through Universal one credit union. Our credit score was 700+ with both the wife and I so no issues there. Chase also offers more no fee ATM's than any credit union plus offer a lot more online interactions. I haven't been inside a bank in a long time, with U1CU I had to go to the bank for everything.

[Todd W.]

Very happy with WPCU.  Have thought about looking at doing more of our banking with USAA but haven't had a lot of time to research it. 

[DarinSchmidt]

I went through Universal one credit union. Our credit score was 700+ with both the wife and I so no issues there. Chase also offers more no fee ATM's than any credit union plus offer a lot more online interactions. I haven't been inside a bank in a long time, with U1CU I had to go to the bank for everything.

I didnt care much for U1CU either. i dont think they hgave the financial backing like WPCU does though. And yet at the U1CU, the manager or whatever drives a Zx0..... I ended up closing an account i had there and went to WPCU. WPCU has a ton of online features and such, just as functional as a fed bank. Fed Banks promote spending, WPCU promotes saving.

[slandis3]

I didnt care much for U1CU either. i dont think they hgave the financial backing like WPCU does though. And yet at the U1CU, the manager or whatever drives a Zx0..... I ended up closing an account i had there and went to WPCU. WPCU has a ton of online features and such, just as functional as a fed bank. Fed Banks promote spending, WPCU promotes saving.

Yea still not worth switching, I have my house loans and car loans there so payments are easy and I can do my payments weekly ( which I do on my cars) which I like.

[DarinSchmidt]

Yea still not worth switching, I have my house loans and car loans there so payments are easy and I can do my payments weekly ( which I do on my cars) which I like.

Going to a credit union wont prevent you from doing any of that....

I'm notby any means saying that anyone should switch. I was just wnting to inform people of the national "Switch to a Credit Union" week.

But some people like what they have and there is nothing wrong with that. Banks of any kind, any branch, any state, any city will provide you diff rates on loans and such that you apply for, credit union or federal.

I havent had anyone beat the CU's rates in the past 2-3 years. My Co-worker just applied for a car loan and got 3.2% , I get 7% interest on the first $500 in my savings account and standard rates on anything over that. I have made more money on my savings account at the CU in the past year than i have in the past 15 or so years at a Fed bank. The past 2-4 years they have offered something like "Profit sharing" Credit unions are non profit, i forget what they called it, but they gave us money since they did so well the past 4 years, about $100 or so each time. How many of the Fed banks hand out free money? I can do anything on WPCU's website that i can on USBank or Chase.com that i am aware of. The Closest WPCU from me is in Troy but i can go to Universal 1 credit union and access my WPCU accounts if needed.

[Boonjob]

A dividend., and nothing is free. even a dividend...

[DarinSchmidt]

It was free to me. I never paid them anything, never had to sign up for anything, etc.

[Boonjob]

You signed up for an account with them, and meet certain criteria... and you paid for it... they dont get their extra income(dividend) from thin air.

[slandis3]

Going to a credit union wont prevent you from doing any of that....

True but switching my home loan to another bank often (not always) means you gotta pay to have an appraisal done, closing cost, etc. Not worth the hassle and the missed work.

[DarinSchmidt]

You can twist it however you want Boon. It was money they gave to their customers that no Federal bank would ever give you. You have to have a bank account for many jobs these days so signing up for an account is a normal part of life. Nothing in life is free, sure, if you want to get down and technical about it, but i had to do nothing extra to get it, and i already had an account before they decided to do it, so it's not like they were dangling a dividend carrot in front of me to entice me to sign up for an account, switch my bank account type into something else, get a loan from them, etc, to get the dividend. I didnt have to pay to get my account, i pay no anual fees, i just got a car loan from them not too long ago, so it was other people's money from loans and bank investments that paid the dividend to me.

Though the dividend that you got was based on how many accounts you have, how much money you have in your accounts, any laons you have with them, etc.

[DarinSchmidt]

rue but switching my home loan to another bank often (not always) means you gotta pay to have an appraisal done, closing cost, etc. Not worth the hassle and the missed work.

Yeah, you have to pay $300 to get an appraisal done, which has prevented me from putting the effort into switching over my home loan currently as well. But i did check and see what i could get my home loan down to and it was 3.25%, but i been curently throwing all of my extra income towards the business and my car.

I was just wanting others to know that by reading this thread that a CU isnt some kind of stone age bank that some kind of make them out to be, and not all credit unions are created equial, but offer better customer perks i think than fed banks. I was just wanting to make people aware of the event this week and it's turned into a debate between CU's vs FB's. Some Fed Banks are good as well by not charging you to hold your money, demanding a min balance, etc, like i have with USBank. They were the first Bank to give me a 5k Credit Card with 8% APR. But thats about the only good thing that has come from them compared to my experiences with other banks.

[DarinSchmidt]

Wow this thread exploded...*wonder why*....

As for credit unions, they are ok unless you leave the area, or need in house banking out of area, or go over seas, or want share options...

You mention Share Options, I'm not totally sure what this is but it may be what you are talking about, I havent looked into it to see what all is available as i'm not really interested in it. http://www.wpcu.coop/Index/LearnMore/ProductsRates/Investments/SelfDirectedInvesting.aspx

But with you having an employee account with PNC (one of those who were banking off of people forclosing homes by frauding paperwork and such along with Chase, Wells Fargo, and i think 1-2 more major ones.), i'm sure there are attached benefits to that account that other banks cant offer.

[Boonjob]

You can twist it however you want Boon. It was money they gave to their customers that no Federal bank would ever give you. You have to have a bank account for many jobs these days so signing up for an account is a normal part of life. Nothing in life is free, sure, if you want to get down and technical about it, but i had to do nothing extra to get it, and i already had an account before they decided to do it, so it's not like they were dangling a dividend carrot in front of me to entice me to sign up for an account, switch my bank account type into something else, get a loan from them, etc, to get the dividend. I didnt have to pay to get my account, i pay no anual fees, i just got a car loan from them not too long ago, so it was other people's money from loans and bank investments that paid the dividend to me.

Though the dividend that you got was based on how many accounts you have, how much money you have in your accounts, any laons you have with them, etc.

WHOA, WHOA, WHOA... slow your role... Nothing is being twisted here....

- CU have always done it, it's part of their non profit status... and actually yes they do use it as a pro to "entice" more business(and you did to.)

- Federal Banks can provide dividends, so saying they wont isn't accurate.... You collect one so easily from WPCU because of their not for profit status... by having an account you are a part shareholder in the company by default... the shareholder status is what earns you your dividend... Own share in your federal bank, and you could still collect one... Most federal banks prefer to keep their "retained earnings" and expand the company, in more ways than literal growth, some of these way can still show returns for their normal banking consumers.... 

- What may seem completely free to you is not the case... You pay interest on your loan(regardless of how great a % you got)... that interest is returned back to the investor(whether the union itself, or private). if returned to the union it is direct income(income you are paying to them)... if it is to a private investor, that investor will take a percentage of that and return it back to the union in the form of income for them servicing the account. NOW even though you state you have only a car loan and getting it for free your not... you are paying x% interest on every payment/transaction you are making... the union turns a profit off of that and is only giving you what is left over back... a 4 year dividend of $100 is not alot... that's $2.09 a month that they are giving back to you out of your % your paying them... federal banks can do the same with retained earnings, but they opt to offer cash back rewards, or points programs, yadda yadda yadda... every purchase nets you x back... they still do all of this too... it just depends on how they are allocating your funds.

- dividends are also comprised of more than just interest you pay, you are correct there... in that it comes from everyone in the union... so those who attract bad check fees,nsf,late charges etc may not feel the same way as you as they may have contributed to a considerable amount  more of your dividend than you did...


Not sure what I twisted.

[Boonjob]

But with you having an employee account with PNC (one of those who were banking off of people forclosing homes by frauding paperwork and such along with Chase, Wells Fargo, and i think 1-2 more major ones.), i'm sure there are attached benefits to that account that other banks cant offer.

Not sure what you are getting at here. its just a job for me...

But if you are referring to the moratorium, you may want to check the results better.

[Wall_Tank]

My dad has a Debit card that he uses for his HSA. SO there is no wait process

This is typically true for an HSA.   Micki, your son is probably refering to and HRA, which is operated by the company.

[DarinSchmidt]

WHOA, WHOA, WHOA... slow your role... Nothing is being twisted here....

lol - All  i was saying is that prior to my laon, ~$400 in dividends or more and all the int was profit to me till i got my loan.

The part about me paying the loan, yes, that is now conributing to the dividend, but before i got the loan in Dec of last year, i contributed nothing aside from a nice sized checking/savings account. Which in the savings account i earn 7% on the first 500, .25% on the rest roughly (fluctuatees), .25% on my checking, and earned dividends on top of that for the past 4 years. Sure, 100 may not be much over the past year, but how many peopel can even say they made that much on their savings accounts over the past 5 years. But on top of that i make $ on my checking and savings account. So pretty much the money i have made off the CU has paid or close to paid for all the Int i paid on the car loan.

Fed banks can hand out money, but they wont, they never have in my lifetime or my dads (though thats not saying that maybe some banks have, i know USBank hasnt and i havent yet seen chase do it either, but i havent been a member of chase the past 3 years). Have you ever been paid a dividend from a fed bank? Do the savings accounts of an fed bank earn over .5%, how are their CD options looking?

A credit UNION is a union for a reason, splits the profits amung it's members, us. Fed bank doesnt have to do anythig it doesnt want to do and is only interested in building more money for themselfs so they can buy more private jets, have bigger incomes, get bigger bailouts and not loan small businesses money they need to be competative, etc.

Saying you can do one thing is different than actually doing it.

I like USBank, i have only had a couple issues with them in the past 20 years, but i see better resaults with CU's, certain ones. U1CU, i didnt like so much, WPCU i couldnt be happier with.

All i can say to the individual is to look at the #'s. Look at all the headlines in the news about what was going on.


Boon, when i was talking about the empoyee bank account having attached benefits, i mean it just liek it sounds. Like working at McD's and getting a free burger just because you work there.

As far as the statement about the Banks frauding paperwork on the home forclosures and such, theres plenty of news articles out on the net about it. PNC, Chase, Wells Fargo,

[Boonjob]

Ok.

[slandis3]

lol - All  i was saying is that prior to my laon, ~$400 in dividends or more and all the int was profit to me till i got my loan.

I may be wrong but you have to claim dividends on your taxes correct, maybe ,no? If that is true then not only are you paying interest on your loan you then have to turn around and pay taxes on the money they gave you?

[Boonjob]

You are correct slandis

[micki]

This is typically true for an HSA.   Micki, your son is probably refering to and HRA, which is operated by the company.

It could be Paul, I'll have to ask him about it.  Something didn't sound right when he was telling us about it compared to what we considered getting for our employees. 

[micki]

I may be wrong but you have to claim dividends on your taxes correct, maybe ,no? If that is true then not only are you paying interest on your loan you then have to turn around and pay taxes on the money they gave you?

Well, that stinks!   

[slandis3]

You are correct slandis

So its really not free money if you have to pay for it.

[Boonjob]

Yeah it's like buying a used car that someone already paid a tax on, and having to pay tax again when it is purchased by someone else. total drag.

[DarinSchmidt]

So its really not free money if you have to pay for it.

Blowing this out of proporton a little arent you?

So you are telling me that if i just handed you $100, you would say its not free money because you had to claim taxes on it? Its $100 you didnt have to work for, even if $7 of it gets taken away for taxed. Thats still $93 free money. The taxes came out of money given to you by the dividend, so the taxes were paid with free money, do techincally you didnt pay for the taxes on it either. And the money i have been talking about this whole time was pre-my loan, not after. But regardless, i see this  just keeps getting turned around some how.

If you didnt have to work for it, it is free. To you, maybe not to someone else, who actually paid for it. If i give you an xmas gift, it is free to you, but not to me, which i paid the taxes on it. as you would have had to if i would have just handed you the total value to get the gift, same concept.

[Boonjob]

IT'S NOT FREEEEEEEEE... IT'S WHAT YOU AND EVERYONE ELSE IN YOUR UNION OVER PAID/ACCRUED THROUGH OUT THE YEAR(s)... IT'S ALL YOUR(union) MONEY TO BEGIN WITH, YOUR JUST GETTING IT BACK BECAUSE YOUR BANK(UNION) CAN'T KEEP IT FOR THEMSELVES........ I DON'T KNOW HOW SIMPLER TO PUT IT.... LOL

It may seem that you may not have personally paid $400 worth of interest/interest accural/nsf/overdrafts/penalties or whatever, but you did... you had an account there, that account made them interest, just like it did for you(they keep a % of what you see in your savings account etc).... not to mention the money they made off of lending your savings for other loans etc... IT IS ALLL YOUR MONEY, ROFL.

If you draw .5% on a savings acount its safe to say your union is actually drawing 1-2% percent on your funds and your only seeing the .5% from that... saying they make 2% they take the remaining 1.5% after they give you your .5% of your money  and pay their lights, salaries, yadda yadda. and what ever is left that they didn't need to pay their bills they add to a big "pool"... then at the end of the year(or whenever your dividends are paid) they take that pool of extra money and give it back to the union(the people whose money it was to begin with)... I just used these numebrs to keep it simple, it may not be the exact numbers for your bank.


Yes, a Federal bank may keep this money(profit) where as a Credit Union has to give it back in the form of dividends, but this doesn't make it free(as in it was yours to begin with)... and a federal bank can still give it all or some back in the form of a points program, or cashback, or cash rewards, yadda yadda yadda

[slandis3]

If you gave me $100 yes it would be free, but if I in return give you $1000 dollars in interest on a loan then no its not free.

[Boonjob]

SEE SLANDIS GETS IT!!!!


and even though they aren't directly keeping it for themselves, they in a way actually are, because they are giving it back to you the shareholders, who are going to keep in in your accounts or use some or all to pay your bills to them, in turn restarting the whole cycle over... this is how they grow.... Did I blow your mind?

[micki]

Ok, I'll settle this...All you boys just give me your money and I'll divide it between me, myself and I and call it dividens (or anything else I can think of at that moment) then I'll go fish shopping!  However for your time in giving me your money, I will buy and deliver each of you a small blue/green chromis!     

[Boonjob]

We will call you MCU, Micki Credit Union.

[micki]

I've been called worse!   

[slandis3]

Lol

[Boonjob]

LOL

[DarinSchmidt]

actually, i'm just going to pull myself away from this argument, you havent listened to a single thing i have said. you just love to argue, i get it, but i'm not going to be a part of it.

[Boonjob]

                     

[DarinSchmidt]

If you gave me $100 yes it would be free, but if I in return give you $1000 dollars in interest on a loan then no its not free.

this i agree with, but, you are talking about a different situation than the one presented. The money discussed was before having a loan, which pretty much paid for the interest on the current loan i have, so i broke even, so any future money, will be, to me, free earned money.

[slandis3]

actually, i'm just going to pull myself away from this argument, you havent listened to a single thing i have said. you just love to argue, i get it, but i'm not going to be a part of it.

Looks to me like there is more than one person arguing here. 

[HUNGER]

i have 3 acounts 1 at wpcu and 1 at abby cu and pnc but i never keep money in the bank why let any ank make money off your money id rather have cash in hand than a piece of paper saying i have money but the bank has it

[micki]

i have 3 acounts 1 at wpcu and 1 at abby cu and pnc but i never keep money in the bank why let any ank make money off your money id rather have cash in hand than a piece of paper saying i have money but the bank has it

So we need to sneak over to your house when your not home and see where you hide the cash!      

[DarinSchmidt]

i have 3 acounts 1 at wpcu and 1 at abby cu and pnc but i never keep money in the bank why let any ank make money off your money id rather have cash in hand than a piece of paper saying i have money but the bank has it

That's a good point but to me I look at it like this. If I keep any money out of the bank that I plan so save for a rainy day, anything over $1000, keeping it out of the bank depreciates because of the economy, ~3% each year. But if you put it in the bank, it earns a little helping it not depreciate as fast, or you could invest it but then its tied up and may not be easily accessible.

[Sunny]

So we need to sneak over to your house when your not home and see where you hide the cash!      

Ohhhhhhhh   stop by and pick me up ....  ROAD TRIP !!!!!

[HUNGER]

it doesnt depreciate i have 30,000 last year and now i have 35,000 and if all the banks go under i still have 35,000 and if it was in a bank u would have to fit to get it and if they have no money than you have no money

[HUNGER]

its not hiden its in a 4'x6' safe

[HUNGER]

and as for homes getting forclosed on thats great if you owe and u dont pay than they should take it from you

[micki]

Ohhhhhhhh   stop by and pick me up ....  ROAD TRIP !!!!!

Schweet!!!

[micki]

its not hiden its in a 4'x6' safe

Even better!  Sunny we are SET!  WOOT WOOT!!! 

[Boonjob]

It all wont matter anyways once the zombie's attack.

[Sunny]

It all wont matter anyways once the zombie's attack.

That's OK, I married one ...



I'm ready whenever you are Micki ...

[HUNGER]

It all wont matter anyways once the zombie's attack.

very true better have alot of rounds

[Boonjob]

Yep, ammo will be the currency then.  and I have plenty of it, I'll be like the next bill gates when the zombie apocalypse happens

[HUNGER]

cool we mite have to meet up i have enough to  eliminate vandalia  but mite need more

[micki]

I'll be right over Sunny!   

Ok Dave and Cody, I need protection! 

[HUNGER]

its going to cost ya

[cyberwollf]

Yep, ammo will be the currency then.  and I have plenty of it, I'll be like the next bill gates when the zombie apocalypse happens

I need to find the pic. My freind has like 10 crates of .45 he stacked them in the shape of a couch and put cushions and a slip cover over it. Makes a nice seat.

[HUNGER]

im good

[HUNGER]

cody this one is for you

[Boonjob]

MMMMM... GUN PRON IN A MAN CAVE... MMMMmmmmmm

[Boonjob]

HA! I love it, i may have to do that... we made some end world kits with 5 gal buckets... one of them is submerged in my sump in the basement... buuttt I like this idea soo much more... my wife will love this in the living room.

[micki]

wow... you guys are serious about this stuff!   

[HUNGER]

yup ready for zombies or the goverment

[Boonjob]

Duh micki, it's going to happen, the question is just when... you gotta be prepeated(WTF? spell check *prepared)... I know I can keep W.C. on the lock down prolly all by myself...I know Kev can prolly say the same.

[HUNGER]

HA! I love it, i may have to do that... we made some end world kits with 5 gal buckets... one of them is submerged in my sump in the basement... buuttt I like this idea soo much more... my wife will love this in the living room.

that is a sweet idea

[micki]

I need to live closer to you guys!   

[HUNGER]

naa when it does happan im head as far away from a big city as i can

[Boonjob]

I wish I could take credit, but remington actually though of it first with their armorer's kit, but I tweaked it and beefed it up a bit more... everything is vaccumm sealed, rations,radio,batteries,lights,basics, and a few firearms and ammo... I'm not crazy or anything... i just got bored and didn't have enough room in my gun safe any longer so on a rainy day a buddy of mine and I made a few for our houses. lol

[HUNGER]

thats a great idea mite have to steal it

[Boonjob]

I so have been wanting to buy on of these for such occasions, and I think it would just be cool in general.


http://www.silohome.com/missile_base_real_estate_investment_opportunity.htm

[HUNGER]

my buddy in out side new carile has a a room 30x30  50 foot under ground with it own air supply and has enough food and water for 3 years he has to have a vault door to his basment because of the amount of guns and ammo

[micki]

Can't we just make love instead of war???  LOL

[Boonjob]

it is war when i.... n/m....



that sounds awesome dave... i wish i could do that... i just have to settle for placing plastic buckets around my basement rofl... makes me sound like an ametuer.

[HUNGER]

ya one day i will have it to need to find a home first

[HUNGER]

[HUNGER]

here another good room

[micki]

it is war when i.... n/m....

 

[Boonjob]

We have totally hijacked this thread.

[HUNGER]

its good thow no need to be fighting over a bank

[Boonjob]

If i had a room like that I most certainly would find my self in the middle of a divorce.... though now that I think of it... it might be worth it....hhhhmmmmmm

[micki]

We have totally hijacked this thread.

This it true...   

[Boonjob]

stop terrorizing this thread! ...

[Boonjob]

i want a shirt that says that about the zombie leader

[micki]

If i had a room like that I most certainly would find my self in the middle of a divorce.... though now that I think of it... it might be worth it....hhhhmmmmmm

Eazy... I know your wife, she is a nice woman!  You on the other hand...   

[HUNGER]

i think i seen a shirt somewhere that said that