Credit Unions

I keep my money in a credit union. CU’s are supposed to be better than banks, though I have found that this is not necessarily the case. Last week, I made a purchase using my ATM card, unaware that I didn’t have enough money in my account to cover the purchase. Instead of declining my card, which is what banks used to do in the old days, the CU covered the purchase and charged me $25. This happened three more times before I caught on to what they were doing. By then they had charged me $100. I went to the bank to see if I could get the charges reversed. The woman I talked to said she would refund me $25 as a “courtesy”, which still leaves me out $75. What burns me up is this woman actually expected me to be grateful for this.

She told me it was my fault that I got hit with these fees. Well, yes and no. Yes, I should have kept better track of my account. However, if they had declined my card, I would have used my credit card instead and everything would be fine. (And isn’t this type of situation what a credit card is supposed to be used for?) Instead I’m out $75 because of their “courtesy”.

Credit unions are supposedly non-profit, but one thing I’ve learned in life is that some things that are “non-profit” actually aren’t. If these people aren’t making a profit, then why do they need to hit people with $25 fees? I smell a rat here.

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