Unprovoked Thoughts Thread

[Big Balls]

Do banks still do the 2:00 thing?

Cut off time for check deposits? Most do. We don't. Its available as soon as you make the deposit here no matter what time of day.

[RhinoGuy]

Cut off time for check deposits? Most do. We don't. Its available as soon as you make the deposit here no matter what time of day.

The place I bank with doesnt hold deposits. I have had accounts at banks before where you had to have the deposit in before 2:00 or it wouldnt credit to your account that night. I assumed all banks had changed over to the instant way since everything is digital now.

[Big Balls]

The place I bank with doesnt hold deposits. I have had accounts at banks before where you had to have the deposit in before 2:00 or it wouldnt credit to your account that night. I assumed all banks had changed over to the instant way since everything is digital now.

Is your bank actually a credit union?

[quack quack bang]

Is your bank actually a credit union?

Has to be BBVA Compass to convert payroll to pesos.......

[RhinoGuy]

Is your bank actually a credit union?

Yep.

Sent from my SM-N950U using Tapatalk

[Pinche Cabron]

Yep.

Sent from my SM-N950U using Tapatalk

Which one?

[RhinoGuy]

Which one?

Alabama credit union

Sent from my SM-N950U using Tapatalk

[Big Balls]

Yep.

Sent from my SM-N950U using Tapatalk

Then its not a bank.

But seriously, credit unions are typically always instant credit on deposits. Our bank was a credit union from the 70's all the way up until 2005. They didn't convert over to the cutoff time stuff because they didn't want to run all the current customers at the time off.

[RhinoGuy]

Then its not a bank.

But seriously, credit unions are typically always instant credit on deposits. Our bank was a credit union from the 70's all the way up until 2005. They didn't convert over to the cutoff time stuff because they didn't want to run all the current customers at the time off.

Is there any difference between a bank and a credit union?

Sent from my SM-N950U using Tapatalk

[Stan]

Is there any difference between a bank and a credit union?

Sent from my SM-N950U using Tapatalk

A credit union doesn't have a jack ass in charge

[Pinche Cabron]

Alabama credit union

Sent from my SM-N950U using Tapatalk

Alabama ONE (the old BFGoodrich CU?)

[Pinche Cabron]

Is there any difference between a bank and a credit union?

Sent from my SM-N950U using Tapatalk

You are a shareholder in your Credit Union. The people own it and the people elect the board each year (or certain members of the board)

[RhinoGuy]

Alabama ONE (the old BFGoodrich CU?)

https://www.alabamacu.com

Sent from my SM-N950U using Tapatalk

[Biff]

.

Sent from my SM-G950U using Tapatalk

[It Takes Eleven]

You are a shareholder in your Credit Union. The people own it and the people elect the board each year (or certain members of the board)

Because they're so widely held by the depositors as a mutual entity, many times the officers and board have a more inward-looking focus for their benefit. No shareholders to demand a return, so they end up having mediocre earnings despite not having to pay corporate income taxes like commercial banks. Most still run like the maw and paw community banks of decades gone by, serving their local fields of membership they way were intended when formed. However, there are others who have been very aggressive (and successful) in getting approval to greatly expand who they can serve. One of the more aggressive rulings by the NCUA to expand fields of membership was just partially overturned in a court challenge by banks. It'll be interesting if this will dial back some credit union expansion.