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I have been a member of LMCU for many years.  Living in California poses no problem, as an ACH transfer [deposit/withdrawal] from my hub account [Alliant Credit Union] is always completed in one banking day.  The fact that LMCU is not part of a shared network is a very minor issue, since their service and Rewards Checking Account is one of the best in the country.

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Dumb Consumers Credit Union question. If I already have their Rewards Checking from years ago, it should still work with their new 3.09% rate and I don't need a new account, right? I didn't see any language about new accounts in the description of the new Rewards Checking rules.

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mattun said:   Dumb Consumers Credit Union question. If I already have their Rewards Checking from years ago, it should still work with their new 3.09% rate and I don't need a new account, right? I didn't see any language about new accounts in the description of the new Rewards Checking rules.
  it should i had not used my for a year and it still worked.  there should be a reward status section online . Its still called reward checking

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I just so happened to look at my Great Lakes Credit Union statement today (monthly reconciling of the books) and noticed the following statement nested within the Transaction Details section:


[code]Effective July 1, 2014, only one
Ultimate Checking Account, per member,
will qualify to earn dividends.
Dividend bearing checking accounts are
limited to one per member.[/code]


Notice has been served.


Time to move on from this outfit.

Suggestions?

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If I could somehow get into Pelican State Credit Union and find family member in area that is with them have they been good about keeping there rates around 4%? Haven't they been around that % for a while now? Also I was kinda wanting to stay away from Kasaas Cash cause they seem to change all the time dont they or is that not the case with this one since its open to Louisiana residents only and very limited if you can even find a family member to get in there?

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Pelican State Credit Union (PSCU): We used to have "a lot of" reward checking accounts (three per social security number x number of household members) with them at (5.01%, $30K); good times.  The current (4.01%, $10K) means nothing to me, although I still have an inactive Kasasa Cash account with them. 

The key/secret is to pursue "non-obvious" ways to join a credit union.  For PSCU, the entry could be made to join certain local clubs at that time (not sure whether that door is closed now).  I am sure that there are other opportunities like PSCU nowadays, just need to be innovative and persistent.   

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KYBOSH said:   I just so happened to look at my Great Lakes Credit Union statement today (monthly reconciling of the books) and noticed the following statement nested within the Transaction Details section:


[code]Effective July 1, 2014, only one
Ultimate Checking Account, per member,
will qualify to earn dividends.
Dividend bearing checking accounts are
limited to one per member.[/code]


Notice has been served.


Time to move on from this outfit.

Suggestions?  if you dont have LMCU 

  GLCU won't be missed , the trend now a days is clearly bait and switch 

GLCU , first > 100 $ and 10 transcations ( can havea multiple accounts)

INOVA  5 tramncations each transcation > 51 $ 

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76hhma said:   Pelican State Credit Union (PSCU): We used to have "a lot of" reward checking accounts (three per social security number x number of household members) with them at (5.01%, $30K); good times.  The current (4.01%, $10K) means nothing to me, although I still have an inactive Kasasa Cash account with them. 

The key/secret is to pursue "non-obvious" ways to join a credit union.  For PSCU, the entry could be made to join certain local clubs at that time (not sure whether that door is closed now).  I am sure that there are other opportunities like PSCU nowadays, just need to be innovative and persistent.   

  I live in Kansas and apparently I have no family down there and the other place I was thinking of was Lake Michigan.  But I don't know if I want to join any bank that is using Kasasa cause they seem to go up or down all the time don't they compared to the ones that are not on kasasa?

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Yea lady at Pelican clearly did not read my email. I told her I was in Kansas and wanted to know if I could get in with joining a local club and she said I was ineligible. Which I already knew but like you said I beleive there are back doors in places besides having family at that bank.

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borail said:   Yea lady at Pelican clearly did not read my email. I told her I was in Kansas and wanted to know if I could get in with joining a local club and she said I was ineligible. Which I already knew but like you said I beleive there are back doors in places besides having family at that bank.
   Head ups 

for people who buy gift cards from Amzn to meet RCA criteria , minimum is now 50 cents no longer .15 cents

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Amazon's minimum or Pelican's (I guess I could just check AZ...) Just curious.

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BingBlangBlaow said:   Amazon's minimum or Pelican's (I guess I could just check AZ...) Just curious.
  Amazon minimum

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KYBOSH said:   I just so happened to look at my Great Lakes Credit Union statement today (monthly reconciling of the books) and noticed the following statement nested within the Transaction Details section:


[code]Effective July 1, 2014, only one
Ultimate Checking Account, per member,
will qualify to earn dividends.
Dividend bearing checking accounts are
limited to one per member.[/code]

Notice has been served.
 


 Does anyone know whether this means they will still pay our interest on multiple accounts for the month of June?  Or will only one account earn interest for June?
 

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MidnightLight said:   
KYBOSH said:   I just so happened to look at my Great Lakes Credit Union statement today (monthly reconciling of the books) and noticed the following statement nested within the Transaction Details section:


[code]Effective July 1, 2014, only one
Ultimate Checking Account, per member,
will qualify to earn dividends.
Dividend bearing checking accounts are
limited to one per member.[/code]

Notice has been served.


 Does anyone know whether this means they will still pay our interest on multiple accounts for the month of June?  Or will only one account earn interest for June?

  Given that it says "Effective July 1, 2014", I would say it's safe to assume that June's interest is not affected.

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cdancer20 said:   
MidnightLight said:   
KYBOSH said:   I just so happened to look at my Great Lakes Credit Union statement today (monthly reconciling of the books) and noticed the following statement nested within the Transaction Details section:


[code]Effective July 1, 2014, only one
Ultimate Checking Account, per member,
will qualify to earn dividends.
Dividend bearing checking accounts are
limited to one per member.[/code]

Notice has been served.


 Does anyone know whether this means they will still pay our interest on multiple accounts for the month of June?  Or will only one account earn interest for June?

  Given that it says "Effective July 1, 2014", I would say it's safe to assume that June's interest is not affected.

  
That was my assumption as well.  Just checking in case the great minds of FWF had any different thoughts on this matter.  Appreciate your response!
 

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Buckmann said:   Crap!  Inova is changing its terms. 


 

  Has anyone received direct information about this from Inova?  I'm trying to remember if I did but I only recall getting information about their new updates to the website and addition on PopMoney.  I believe though that if I wasn't following this thread, that I would know about this change coming next week.

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cdancer20 said:   
Buckmann said:   Crap!  Inova is changing its terms. 

 

  Has anyone received direct information about this from Inova?  I'm trying to remember if I did but I only recall getting information about their new updates to the website and addition on PopMoney.  I believe though that if I wasn't following this thread, that I would know about this change coming next week.

I received an email on May 4th entitled "Your E-Statement is ready - Important Change In Terms & Member Notice". About half way down the page was a sentence that read "Click here to view an important Change In Terms for Ovation Checking." That link took you to a page on their website with details of the change in requirements.
 

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I joined LMCU but know I need to find another local bank cause I want to have a local bank to take cash and checks and stuff and do a ACH push or pull but the bank Im at charges a fee and LMCU doesnt let u do it on there site you have to initiate it from your other bank.  Does anyone know banks that are nation wide that are good banks that would be good for doing this?  I'm in Kansas.  Wold I be able to do online bill pay at my current bank to push or pull that meet these requriments so I dont have to mess with going to another bank?

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borail said:   I joined LMCU but know I need to find another local bank cause I want to have a local bank to take cash and checks and stuff and do a ACH push or pull but the bank Im at charges a fee and LMCU doesnt let u do it on there site you have to initiate it from your other bank.  Does anyone know banks that are nation wide that are good banks that would be good for doing this?  I'm in Kansas.  Wold I be able to do online bill pay at my current bank to push or pull that meet these requriments so I dont have to mess with going to another bank?
  Alliant CU,
Ally

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Capone 360 with the firecracker bonus...

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fwuser12 said:   
borail said:   I joined LMCU but know I need to find another local bank cause I want to have a local bank to take cash and checks and stuff and do a ACH push or pull but the bank Im at charges a fee and LMCU doesnt let u do it on there site you have to initiate it from your other bank.  Does anyone know banks that are nation wide that are good banks that would be good for doing this?  I'm in Kansas.  Wold I be able to do online bill pay at my current bank to push or pull that meet these requriments so I dont have to mess with going to another bank?
  Alliant CU,
Ally

  I was actually going to suggest Alliant too.  I kept trying to put it off due to not wanting more checking accts but I finally gave in when I opened my LMCU acct last month.  Thus far it has been great!  1 biz day transfers is such a great tool.

On the flip side, I do want to say that you can also do online bill pay from your current bank to LMCU.  They list the option right on their website so I decided to test it out with a small transfer.  (For my bank-Inova), I made the request on the 1st, it was withdrawn on the 2nd, and showed up on my LMCU acct on the 3rd.  Therefore, I would say that is a great option if you don't want to go through Alliant.  Still could possibly be a 2 biz day transaction and 1 less time that you have to use Alliant as a hub (less activity is always better).  However, I won't say that this will satisfy your DD requirements if that's what you are trying to do.

Also, LMCU has mobile check deposit.  So you won't need another bank for that.

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fwuser12 said:   
borail said:   I joined LMCU but know I need to find another local bank cause I want to have a local bank to take cash and checks and stuff and do a ACH push or pull but the bank Im at charges a fee and LMCU doesnt let u do it on there site you have to initiate it from your other bank.  Does anyone know banks that are nation wide that are good banks that would be good for doing this?  I'm in Kansas.  Wold I be able to do online bill pay at my current bank to push or pull that meet these requriments so I dont have to mess with going to another bank?
  Alliant CU,
Ally


Seconded.  I have this exact combination of accounts (Alliant + Ally + LMCU) and it's been perfect so far.  I haven't had a local (brick and mortar) bank account in years.  My only additional suggestion is to also have a Schwab Investor Savings account for no-fee cash withdrawals from any ATM globally, as it can sometimes be a bit difficult to find a suitable ATM for the credit unions.

 

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MidnightLight said:   
fwuser12 said:   
borail said:   I joined LMCU but know I need to find another local bank cause I want to have a local bank to take cash and checks and stuff and do a ACH push or pull but the bank Im at charges a fee and LMCU doesnt let u do it on there site you have to initiate it from your other bank.  Does anyone know banks that are nation wide that are good banks that would be good for doing this?  I'm in Kansas.  Wold I be able to do online bill pay at my current bank to push or pull that meet these requriments so I dont have to mess with going to another bank?
  Alliant CU,
Ally


Seconded.  I have this exact combination of accounts (Alliant + Ally + LMCU) and it's been perfect so far.  I haven't had a local (brick and mortar) bank account in years.  My only additional suggestion is to also have a Schwab Investor Savings account for no-fee cash withdrawals from any ATM globally, as it can sometimes be a bit difficult to find a suitable ATM for the credit unions.
 

  Ally has free ATMs as well.  Not sure if it's global though.  But they don't charge fees and will replace ATM fees incurred (up to a certain amount?)

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Ally has no limit on atm fees reimbursed.

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gobigorgohome said:   Ally has no limit on atm fees reimbursed.
  I am going to start a bank that charges $100,000 to use the ATM.  Then I am going to have my wife use my bank's ATM machine.  My bank may have to pay taxes on the $100,000 fee received, but she will be reimbursed $100,000 from Ally, tax free.  We will wind up with a huge net gain. Rinse and repeat.

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^^^ Shh...

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Does anyone bank overseas or in Venezuela? I see there banks interest is 28.50%. Is it possible to bank overseas if you live in the states? Since America's banks are so pathetic interest wise!

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borail said:   Does anyone bank overseas or in Venezuela? I see there banks interest is 28.50%. Is it possible to bank overseas if you live in the states? Since America's banks are so pathetic interest wise!
  I'd say that the chance that your deposit will be seized and confiscated is extremely high. After all that country doesn't have a stable government anymore...

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borail said:   Does anyone bank overseas or in Venezuela? I see there banks interest is 28.50%. Is it possible to bank overseas if you live in the states? Since America's banks are so pathetic interest wise!

Venezuela limits how much currency a person can convert to foreign currencies, such as USA dollars. And they have a habit of seizing private assets.

Sounds likes great deal though, we look forward to your future posts as you beat those American banks!

Be sure to report your foreign currency to IRS, I'm not sure if there is a special form to report your seized money. But you might even get a write off from it! Double score!

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Well that was one option and here is a list List of countries by central bank interest rates.  So is it even possible to bank in another country and live in the states?  There is no one on here that is banking in one of these countries with high interest rates like this?

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borail said:   Well that was one option and here is a list List of countries by central bank interest rates.  So is it even possible to bank in another country and live in the states?  There is no one on here that is banking in one of these countries with high interest rates like this?
  There are a lot of risks and hurdles to doing so:

1) US law prohibits investment by US citizens or nationals in some of those countries.
2) US law (ie FACTA) increases the regulatory burden on both banks and depositors.
3) Know your customer rules may require you to establish the account in person.
4) Some of those countries (ie Venezula) have capital controls that make it next to impossible to withdraw money out of the country.
5) Foreign currency exchange risk could substantially reduce returns -- and dollar demoninated accounts usually have lower rates.
6) Banks in some countries may not open accounts for non-citizens.
7) Some foreign national banks have proposed substantial levies/seizure on banks accounts (see Malta).
8) Corruption could result in your money disappearing.

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borail said:   Well that was one option and here is a list List of countries by central bank interest rates.  So is it even possible to bank in another country and live in the states?  There is no one on here that is banking in one of these countries with high interest rates like this?
Investing in USA junk bonds is a lot safer and has equal or better interest rates.

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