11–20 of 26 posts
Why is this here? There are other credit unions. This 'bank' is running on Wordpress - 3.5.1 from what I can tell [0]. Isn't that vulnerable [1]? The customer login page takes you somewhere else [2] - seems sketchy. I can't find any information about their interest rates - why should I put my money with them? [0] https://iafcu.org/wp-admin [1] http://codex.wordpress.org/Version_3.5.2 [2] https://obc.itsme247.com/237/…
I don't know if he is right or not, but I've been a die-hard CU member for the last 12 years, and would never go back to a bank for my personal finances.
I don't know very much about the banking system, but I had a roommate in college who was a business/finance student, and always told me, "Banks are for businesses. You, as a person, don't have enough assets to make a bank care about you. Credit Unions are for people." I don't know if he is right or not, but I've been a die-hard CU member for the last 12 years, and would never go back to a bank for my personal finance…
As far as I can gather from Wikipedia, it seems that in other languages, the term for 'Credit Union' still includes the word 'bank', so that might be the confusion. Still, I don't believe my bank technically is a credit union. Also, bankers here aren't dicks.
They are working on quite a bit at the moment; their site might appear 'sketchy' at first glance but it seems like this is only the beginning and they have some pretty serious plans for their future.
https://iafcu.org/special-posts/membership/ "Persons who live, work, worship, attend school, or participate in associations headquartered in New Brunswick or Highland Park, New Jersey" Am I misunderstanding what this means, or are they saying you have to live there in order to be a member?
This makes it more difficult to establish an open-to-everyone web-based credit union; you basically have to have some sort of online community already in place, and attract members from that community.
Nevertheless, there are some web-based credit unions that have been able to successfully meet the requirements ... however, this explains why you don't see the cooperative equivalent of an ING Direct/Capital One 360.
Even so, I do hope that either the regulations change or some established web-based credit unions are able to attract people away from the for-profit banks, because credit unions, being member owned, never put profits before people. (But if they DO happen to make a profit, it goes back to the members, not to some outside shareholder.)
I was interested until I couldn't easily find the interest rate for a savings account. I like having a physical branch with in walking distance, but iff you could give me an extra percent on a savings account that is accessed infrequently I'd probably go for it.
I'm really not sure why I would normally need access to a physical branch. I once had to get paperwork notarized at another bank, but that only cost me $5 and USAA probably would have sent a notary out if that paperwork had anything to do with them.
Why is this here? There are other credit unions. This 'bank' is running on Wordpress - 3.5.1 from what I can tell [0]. Isn't that vulnerable [1]? The customer login page takes you somewhere else [2] - seems sketchy. I can't find any information about their interest rates - why should I put my money with them? [0] https://iafcu.org/wp-admin [1] http://codex.wordpress.org/Version_3.5.2 [2] https://obc.itsme247.com/237/…
It seems like a interesting option (they have some decent ideas in place) but I agree it also seem sketchy/fly by night. It is only a small credit union for people in a specific part of NJ, USA.
https://iafcu.org/special-posts/membership/ "Persons who live, work, worship, attend school, or participate in associations headquartered in New Brunswick or Highland Park, New Jersey" Am I misunderstanding what this means, or are they saying you have to live there in order to be a member?
EDIT: See "Persons participating in programs to alleviate poverty or distress that are located in the approved area" on the members page