What are some of the credit unions out there with a relatively open membership? Reccomendations on which ones to go for for mortgages, home equity loans/lines, etc..
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sureshkumarksk
Happy Member
posted: Aug. 28, 2012 @ 1:25p
DCU is also good for me.
adnds
Member
posted: Aug. 28, 2012 @ 2:30p
Alliant Credit Union's rates aren't the best anymore (still decent), but the ease of their online banking transfers has kept my account. I joined them back in the day when their Sprint discount was still super high.
RedWolfe01
Senior Member - 1K
posted: Aug. 29, 2012 @ 8:16p
With Penfed I suggest applying for a credit card before you get serious about moving all your accounts. Penfed is very much an all or naught as far as approvals. They will either lock the vault or open it wide. If you get approved for a credit card (max 50K per member across all) then you will get approved for pretty much anything they offer. Obviously mortages are based on Fannie and not their own requirements.
I assume that they will cap your limit based on income. I know that they went from not even being willing to open a credit card for me to offering a pre-approved 50K auto loan and 50K in credit card line within a year.
greling
Thrifty Member
posted: Aug. 30, 2012 @ 2:04p
Charles Schwab Bank. Not a credit union, but so good that it might as well be one.
Marlin1975
Senior Member - 2K
posted: Aug. 30, 2012 @ 2:27p
I left Wachovia/Wells Fargo and went to PenFed. Have savings, checking, CDs, and CC with them. Not many branchs but rarly need to go to one.
$200 bonus for checking with DD and a $25 referral bonus.
$10 for membership in FAN if you don't work for one of their 8 million affiliated employers.
DB
nsdp
Dismembered Member
posted: Sep. 1, 2012 @ 11:24a
I would strongly suggest that you investigate the financial ratings of the credit unions. Randolph Brooks has a fairly large field and a top 10 rating from SNL Financial and A+ from Weiss (new rating 2 years old so I have some questions about track record). As a former contract attorney for NCUA I would look for one of the 3% or so that are allowed to insure your account for $500,000 not $250,000. They pay an extra premium for that coverage. NCUA audits include internal controls as well as loan quality and coverage ratios and give a better overall picture. .You won't find promotional gimmicks at the top tier credit unions.
glxpass
Senior Member - 5K
posted: Sep. 1, 2012 @ 11:42a
nsdp said: I would strongly suggest that you investigate the financial ratings of the credit unions. Randolph Brooks has a fairly large field and a top 10 rating from SNL Financial and A+ from Weiss (new rating 2 years old so I have some questions about track record). As a former contract attorney for NCUA I would look for one of the 3% or so that are allowed to insure your account for $500,000 not $250,000. They pay an extra premium for that coverage. NCUA audits include internal controls as well as loan quality and coverage ratios and give a better overall picture. .You won't find promotional gimmicks at the top tier credit unions. Plenty of financially high-rated credit unions offer worthwhile promotions. PenFed (Pentagon Federal Credit Union) immediately comes to mind.
To get an idea of the health of banks and/or credit unions, see DepositAccounts.com - Bank Health Ratings. You can filter the results by best/worst ratings, banks and/or CUs, asset size, and state.
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