Internet Credit Union

#1

Post by ctoth » Thu, Jun 27, 2013, 11:37 PM UTC

Re: Internet Credit Union

#2

Post by VandyILL » Thu, Jun 27, 2013, 11:45 PM UTC

Interesting idea, but without a physical locatiin I wonder if they'll be able to compete with the online products people would expect from an online bank.

Also, usually credit unions are linked to a small commub you etc & help finance things in that community. Is there going to be a specific focus for this bank?

Re: Internet Credit Union

#3

Post by nthitz » Fri, Jun 28, 2013, 12:49 AM UTC

I have serious apprehension about trusting a banking service labeled as "Beta"

Re: Internet Credit Union

#4

Post by jareds » Fri, Jun 28, 2013, 12:51 AM UTC

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.

Re: Internet Credit Union

#5

Post by jpdoctor » Fri, Jun 28, 2013, 12:51 AM UTC

Preemptive answer to a question that should get asked: NCUA is the equivalent of FDIC for credit unions.

Re: Internet Credit Union

#6

Post by bankIsSketch » Fri, Jun 28, 2013, 1:03 AM UTC

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/

NOTE: Change the /237/ in link [2] and you will see its running portals for other banks... This bank is just a cheap domain outsourcing their entire infrastructure on the cheap. No.

Re: Internet Credit Union

#7

Post by brg » Fri, Jun 28, 2013, 1:07 AM UTC

Netbank was somewhat successful until it diversified too quickly.

http://en.wikipedia.org/wiki/NetBank

Re: Internet Credit Union

#8

Post by zacharycohn » Fri, Jun 28, 2013, 1:07 AM UTC

VandyILL wrote: post #2

Interesting idea, but without a physical locatiin I wonder if they'll be able to compete with the online products people would expect from an online bank. Also, usually credit unions are linked to a small commub you etc & help finance things in that community. Is there going to be a specific focus for this bank?

... yes. The Internet Community is their chosen focus...

Re: Internet Credit Union

#9

Post by T-A » Fri, Jun 28, 2013, 1:09 AM UTC

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?

Re: Internet Credit Union

#10

Post by [deleted] » Fri, Jun 28, 2013, 1:10 AM UTC

bankIsSketch wrote: post #6

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/…

[deleted]