OT: Where should I bank???

[JAllen]

I need to switch who I bank with. I'm bank with a credit union that is based in Vancouver Washington and won't want to deal with going up there without a car.

Criteria:

-locations in SE and/or NE Portland.
-Credit Union. (might be open to a small local bank...maybe)
-Best "perks"
-Ease of remote services (apps, online banking, 24hour phone availability)
-Anything else you might think is helpful!

:help:

[4Rings6Stars]

I never thought too much about this so this thread should be interesting...but why is a credit union better than a big bank? I had a small local bank until I moved to Boston to go to college and needed something with more locations.

I'm happy (or maybe blissfully ignorant) with the big bad BofA... locations and ATMs everywhere, good app / mobile banking, free checking, linked rewards credit card...etc.

I'm guessing it's when it comes to mortgages / personal loans that a credit union is better?

[makoti]

I bank with a CU in PA. I live in VA. I haven't set foot in a bank in nearly 5 years. If you don't need to go in, don't change if you like it.

[JAllen]

I bank with a CU in PA. I live in VA. I haven't set foot in a bank in nearly 5 years. If you don't need to go in, don't change if you like it.

If I could I would, but not changing isn't an option. Long story...

[MattTuck]

Well, if you want your money to rest in the hands of a global cabal of financial sith lords, then go ahead and use bank of America...

haha... kidding, sort of. I mean, keeping your money in a 'too big to fail' institution is a little like being part of the problem instead of the solution. If the government is unable or unwilling to make these banks smaller, it is up to the market to do that. I do my very small part.

I use a credit union.

I don't think people who use BofA or Chase are bad or anything, I just think they value convenience over a slightly esoteric policy consideration that most people are completely unaware of.

Also, big banks work pretty well for folks with money. If you start hitting late fees, over draft fees, etc. they can be pretty punitive.

[Mzilliox]

Umpqua Bank is my choice in the PNW. not a credit union, but its got that feel to it.

[54ny77]

Go with First CitiWide Bank.

http://www.nbc.com/saturday-night-live/video/first-citywide-change-bank/n9701

[slidey]

I was in a similar boat a while back, in that, I put a positive weight in being able to go into the branch.

I've had an account with a CU for a while, and then opened another one with Schwab. I have a residual amount of money lying around in BoA too though, which I don't see myself closing anytime soon - just for those moments when you just need to get some cash, and haven't been able to pre-empt the need before-hand.

So, key for you is two-fold: use > 1 bank to handle your mobility needs, and look into Schwab. My biggest gripe with Schwab is their lack of 2-factor auth :crap: (or, its well hidden nature)

[bikerboy337]

Any chance you have military connections? USAA, PenFed, Navy Credit Union, etc... are all amazing... i use USAA and PenFed for almost all banking/loan needs... all remotely... only issue i've ever had is if I want to deposit cash, thats a pain, but i've only dealt with that 1 time...

[eddief]

Charles Schwab Bank is good. Even though they don't have branches, they pay / reimburse for any ATM fees charged anywhere in the world. And then I think they provide everything every other retail bank does.

[rwsaunders]

In PDX you have Advantis CU and OnPoint CU to choose from and as somebody else said, Umpqua Bank is all over the PNW with neighborhood branches.

[tiretrax]

If you are using a CU, you can go to a local service center and remain with the original one, if you wish. I still use one in Washington, DC even though I live in Dallas (for far too many years).

[choke]

I use a CU in VA and I only lived there a couple of months a long time ago. It's such a good CU that I've felt no reason to change.

Wherever I have lived, I open an account in a local bank. The amount will vary with the bank but it's normally a small minimum. This allows me to write a check for cash or cash a check from another party whenever needed. I've done this in several locations over the years and it's never been a problem.

[JAllen]

Any chance you have military connections? USAA, PenFed, Navy Credit Union, etc... are all amazing... i use USAA and PenFed for almost all banking/loan needs... all remotely... only issue i've ever had is if I want to deposit cash, thats a pain, but i've only dealt with that 1 time... unfortunately no. My grandfather was in the US Army, but never utilized any of those (at least that I know of).

In PDX you have Advantis CU and OnPoint CU to choose from and as somebody else said, Umpqua Bank is all over the PNW with neighborhood branches.
I was looking at advantis, on point, unitus, and rivermark.

[Elefantino]

Thankfully, no one has mentioned Bitcoin. :eek:

[kramnnim]

Clark Howard ("how to spend less and save more" radio guy) has nothing but bad things to say about the "Evil Monster Megabanks" and praises credit unions for personal use and small local banks for small businesses.

Here is one of the things he mentioned on a megabank rant... http://www.latimes.com/business/la-fi-wells-fargo-sale-pressure-20131222-story.html

[blessthismess]

Wells Fargo was the worst banking experience I have ever had. I've banked with various entities over the years and the six months with WFB was what finally pushed me to switch to a credit union. Happy ever after. Good luck with your search.

[Anarchist]

Umpqua.

[rwsaunders]

I was looking at advantis, on point, unitus, and rivermark.

Of the four CU's mentioned, here's the order of financial strength if that means anything to you. Go for the lowest fees and rates, the most convenient locations (when trouble arises, it's nice to meet face to face), free ATM use and the easiest web/mobile app to navigate.

Once you join a CU, you're a member for life and you also have the opportunity to be elected to the board, as a CU is a not for profit organization. Try that with your local bank...even Umpqua.

OnPoint
Advantis
Unitus
Rivermark

[bagochips3]

My biggest gripe with Schwab is their lack of 2-factor auth :crap: (or, its well hidden nature)

They offer it. You have to call and ask and they will mail you a fob that changes its value every minute. Would be nice if they offered something that works with your smart phone so you don't need to carry the fob around everywhere.