Conference 7.286::dcu

35.0. "Good experience with DCU" by CAADC::MANGU () Thu Jun 18 1987 04:46

    
    I've been with DEC for 6 yrs now and with DCU for 5 yrs. Up till
    last summer I never had a problem with DCU. I found some of their
    services better than my bank. My bank stopped paying interest on
    my checking account unless the balance was over a minimum of $1000
    (1%) and 5% for over $3000. Whereas DCU dropped it's minimum for
    interest over those 5 yrs. from $3000 to $500. The other excellent
    feature about DCU, was I was able to walk up to a teller when no
    other customers were there and asked for what transactions had cleared
    on my checking account (share drafts, whatever) since my last
    statement. It took 1 min for the teller to pull up my account and
    read off the transactions. (try this at a bank). I've always shown
    my badge whether asked for it or not. I've always been asked for
    my social security no and date of birth for transactions other than
    cashing checks or deposits.
    
    Last summer (or was it the summer before) when DCU replaced their
    system, lots of strange things started happening. Everytime I used
    the ATM on Main St (Maynard), usually to withdraw cash, each
    transaction appeared on my statement as having occured at least 2 times
    or 3 times. Of course they were fixed immediately or on the next
    day. When I called DCU about this they said that it was the new
    system. It would be fixed within the next few months. Also very
    annoying was the fact that the ATM on Main st was out of commission
    for a long period of time. The Parker St. one worked for some people
    and not others.
    
    Now I'm in the field (Chicago). I still bank with DCU. I found most
    of the local banks charge 15 cents per check if your balance goes
    below $2000 ($4000 at one bank) for the first 10 checks and then
    20 cents for each additional check. Plus a monthly service charge.
    Let's not bother with interest. If I had that kind of money, I wouldn't
    keep it in my checking account. I only use it to pay bills.

RE -.1
>    $3000. Whereas DCU dropped it's minimum for
>    interest over those 5 yrs. from $3000 to $500. 

DCU used to pay 'money-market' rates on balances above N, and 5.5% (or 
about that) on balances below N.  N started at $3000.  Over the years, 
DCU has dropped N incrementally down to $500.  EXCEPT:  Now they pay
5.5% on balances ABOVE N, and 0% interest on balances below.  I don't
have a problem with the low rate for  >$500.  I was, however, 
surprised to learn that they paid 0% on balances below $500, since 
originally they paid some interest on ALL your funds.

    I also remember that when they no longer paid for a balance under
    $500, they didn't notify us about the change.  I remember a few
    of us discovering this new policy when we got our monthly statements.
    When we asked when this happened, and where it notified us of this
    fact, they claimed it was in the DCU Input/Output letter.  They
    said that we must've overlooked it.  I'm still trying to locate
    it.
    
    Don

>    I also remember that when they no longer paid for a balance under
>    $500, they didn't notify us about the change.  I remember a few
>    of us discovering this new policy when we got our monthly statements.
>    When we asked when this happened, and where it notified us of this
>    fact, they claimed it was in the DCU Input/Output letter.  They
>    said that we must've overlooked it.  I'm still trying to locate
>    it.
    
I also noticed it about 4 months after the fact.  After 2 complaints 
to John Tulley (sp?) he finally said it would be in a future 
newsletter - i found it, in small type, about 3 months later