Does anyone have an acct here? What is the difference between acct there vs. FCB or Wachovia or Bank of America? Pros? Cons?

6/4/2007 9:32:34 PM

usually better interest rates for loans and accounts

they don't charge a fee to use other people's atms

6/4/2007 9:35:11 PM

http://www.ncsecu.org/Resources/Publications/PDF/Brochures/Accounts.pdf

6/4/2007 9:35:17 PM

credit unions are usually run by the members and for the members

as such, credit unions usually have more consumer-favorable rates and are less likely to stick you with tons of fees

6/4/2007 9:35:44 PM

i have one there

Share 1.73 / 1.75 APY
Money Market 4.50 / 4.60 APY
Checking 0.75 / 0.75 APY
IRA 5.00 / 5.13 APY
Used Vehicle 6.25

Checking Account Services
Monthly Maintenance Fee - interest bearing $ 1.00
Monthly Maintenance Fee - non - interest bearing 1 $ 2.00
Services Fee 2 $ 0
Non-sufficient Funds/ Special Handling $ 12.00
Stop Payment Order $ 8.00
Overdraft Transfer 3 $ 0.50
BillPay Service 4 $ 0.20


Share, IRA, SEP, and CESA Account Services
Transaction Fee $ 0
Service Fee - Share, IRA, SEP and CESA 5 $ 0
Service Fee - Money Market Shares 5 $ 0

Miscellaneous Charges
Returned Check / Item for Deposit or Payment $ 5.00
Check/Statement Copies - Routine Requests 6 $ 0
Check/Statement Copies - Excessive Requests 6 $ 1.00
Coupon and Bond Collection $ 12.25 minimum
Travelers Cheques Purchase $ 0
Money Order Purchase 7 $ 1.00 per money order
Outgoing Domestic Wire Transfer $ 6.00
Outgoing International Wire Transfer $ 10.00
Notary Service $ 0
Verification of Deposit Request $ 10.00

6/4/2007 9:36:03 PM

^^^^although SECU won't charge you for using somebody elses atm, you still have to pay the atm's fee for using it.

[Edited on June 4, 2007 at 9:37 PM. Reason : a]

6/4/2007 9:36:40 PM

yeah but wachovia might charge you a fee on top of the fee you would be charged to use a different atm

6/4/2007 9:37:37 PM

you are correct

6/4/2007 9:38:10 PM

They're awesome, high interest rates on your savings (1.7%), money maket (4.6%), bridge (based on S&P 500 returns), and checking acounts (.75%). Fees are practically non-existent, customer service is much better, free change machines, and crediting your account with deposits also goes much smoother.

Only thing that sucks is ATM's if you travel (none outside NC, but the fee is only 75 cents).

Credit Unions are not for profit, whereas large banks count on sticking you with fees in order to return profit to shareholders.


[Edited on June 4, 2007 at 9:42 PM. Reason : .]

6/4/2007 9:39:23 PM

I have an account there... opened my first account with them. But one thing to keep in mind... since they are a smaller bank, they will keep up with you and know more about your situation. When my step-dad didn't follow through with some kind of payment they froze my account because I was at the same address. I started banking at Wachovia and have been MUCH happier with their service and reliability. If you're looking to get a loan or accrue interest through savings & you have the ability to get an SECU account then do so... their rates are worth the hassle they can sometimes create.

Just my opinion-- figured it was time someone presented a less favorable view of them. There's no way I would go back to banking with them... but my account is still open there for some reason or another.

6/4/2007 9:44:36 PM

I've never had any problems and I absolutely love their much much more favorable rates than places like wachovia.............that being said I have accts at both places, just for different things

6/4/2007 9:47:15 PM

how reliable is their online banking? rbc and wachovia mostly suck @ that. w/my current bank, if i go spend 2 bucks at starbucks, it shows up as pending as soon as i get home. anyone use secu's?

6/4/2007 9:51:44 PM

fees are better and they will not try to rape you in the ass.

the idea behind the SECU is that you are a part owner ($25.00 opening share cost) in the bank. therefore they are not like the big banks that will try and trick or as my 70 yr grandma says hoodoo you out of your money.

a good example of a bank screwing the small guy http://brentroad.com/message_topic.aspx?topic=479235

i honestly think the big banks are some of the most socially irresponsible and greedy legit corporations except for maybe the gas companies and factories that dump toxic chemicals into the environment.

i do not see how commercial banks can compete for personal banking needs against any credit union

6/4/2007 9:55:26 PM

FREE CHANGE MACHINES ARE THE GREATEST THING ABOUT THEM

6/4/2007 9:55:34 PM

If your even considering moving to SECU you should just give them 25 bucks while you're a state employee then you at least have it for life and can open other accounts later (especially when you are building a large savings).

6/4/2007 9:57:33 PM

The 4 times I've made the effort to go to the change machine it's been broken. Go Figure

6/4/2007 9:58:53 PM

The only real downside I can think of is they don't offer business accounts or business loans, so don't expect those services, but as far as personal banking, Im in the banking business, and I haven't seen better services for personal banking anywhere else.

6/4/2007 10:01:29 PM

Less bullshit in general
I've been happy with the online banking, but I also don't live by it. If I'm broke, I just don't spend money if avoidable.
They do charge for using foreign ATMs...I thought it was free, but it's a $0.75 surcharge.
The change machines fucking rock.

I have direct deposit from NCSU into my SECU checking account, and then I move money into savings and checking at ING.

Quote :

"Fees are practically non-existent, customer service is much better, free change machines, and crediting your account with deposits also goes much smoother."

6/4/2007 10:11:53 PM

Quote :

"how reliable is their online banking? rbc and wachovia mostly suck @ that. w/my current bank, if i go spend 2 bucks at starbucks, it shows up as pending as soon as i get home. anyone use secu's?"

No. They don't do anything like this. The charge shows up when it is charged from your account. What I have typically seen is that when any transaction is made deducting from or adding to your account it shows up as a global total under a "Today's activity" heading. You don't get the details of each transaction until the following day.

Scenario:

I go to El Rodeo on 6/4 and spend $15
On 6/7 the charge is finally made to my account and shows up under "Today's activity" which says ($78.18) (because it totals all transactions for that day).
The El Rodeo detailed transaction shows up on 6/8.

[Edited on June 4, 2007 at 10:21 PM. Reason : -]

6/4/2007 10:19:29 PM

i've had a checking account and money market there for years, but have just recently started using them as my "primary" bank after wachovia pissed me off. so far, i've been very pleased. customer service is great, and feels more like a local small company vs. a huge impersonal corporation.

online banking is comparable to others as far as what you can do. a little plainer interface, but imo it makes it easier to use.

they're also on top of any odd transactions. i've had a couple of wild spending nights since i switched, and both times i've been awakened with calls early the next morning to confirm my debits.

as has been mentioned, the interest rates on accounts and loans are hard to beat also.

6/4/2007 10:47:33 PM

Wachovia has been sued and is currently being sued for ILLEGAL business practices, illegal holding of funds etc etc etc. There's 20 threads on it.

I was part of the last class action lawsuit against wachovia. There's like 2-3 currently. You need to remember Wachovia is a big business bank now. They claim to care about the small people but they STILL do the following

$29.95 returned check charges (That is illegal. The max allowed is $25.00). They call it $25.00 returned check fee and $4.95 processing... when the law states that the processing fee must be included in it.
They automatically place the biggest item first followed by smaller items at midnight when the charges go through so they get the maximum returned check charges possible.

Sigh... im too tired to go over the thousands of reasons Wachovia should be avoided like the plague. From the way they treat their own people to the way they treat customers and businesses. Stay away from them.

SECU is far superior. And the only reason the account above could have been frozen is if he was linked to another account by name. Address would not cause that to happen. ANY bank would have frozen your account for those reasons.

SECU is one of the best banks I have ever worked with. Everything is extremely easy to deal with and even their conversion rates for when I charge something out of country are better (The charge for the conversion).

They place no limits on visits to the branches. They don't charge for ANY ATM period. Most of the ATM's in this area are owned by them if not by another bank.

Checks are cheaper, accounts are cheaper to manage, there are no hidden fees, no hidden charges, no unexpected changes to your account (Wachovia is being sued currently for this).

But lets say you don't believe me. Just go to google and type in any of the following

"hate wachovia"
"wachovia sucks"

There's enough results with just those two... to steer you clear.

6/4/2007 10:49:38 PM

The only bad experience I've had with SECU dealt with identity theft/fraud. They don't have your back in those cases, it seems. They'll credit your account if you file a notice, but their internal investigations department headquartered in Raleigh is very lax, very rude, and they don't give a damn. They also don't prosecute the guilty party even if you have evidence of the fraud. In this regard, they're a far cry from USAA, which I was lucky enough to be able to become a member of.

6/4/2007 10:51:17 PM

Quote :

"They don't charge for ANY ATM period. "

Yes, they do, if it's not a cashpoints ATM.

I found this out the hard way this past Tuesday. I used the Wachovia ATM on hillsborough by el rodeo because I was wearing heels and it was raining. I didn't feel like hoofing it down to SECU before the time I needed the money. I was aware of the $2 wachovia would charge, and I didn't give a damn right then.

Still got dinged $0.75 from SECU on that one.

Quote :

" ATM Usage Fee L340 *HILLSBOROUGH STRRALEIGH NC $0.75 "

They're still really awesome, but you oughtn't be saying 'they don't do this AT ALL', when it's 'they don't do this much at all'.

6/4/2007 11:06:45 PM

Quote :

"When my step-dad didn't follow through with some kind of payment they froze my account because I was at the same address."

hahaha

and there is no way you can bank with them anymore because of a hassle that your dad created. thx for the laff.

oh and over-draft protection at secu is from YOUR own account, and not borrowed money from them.

[Edited on June 4, 2007 at 11:54 PM. Reason : asdf]

6/4/2007 11:40:25 PM

I have accounts with Wachovia & SECU and I think SECU is much better.

I use SECU's online banking & it's just as good as Wachovia's.

I also have a mortgage with SECU. Way better than getting a mortgage with a big bank. Wachovia wanted much higher fees & SECU has a great ARM program that only requires 10% down (no mortgage insurance).

6/4/2007 11:46:43 PM

Quote :

"They automatically place the biggest item first followed by smaller items at midnight when the charges go through so they get the maximum returned check charges possible."

i have heard about this shit from Shitty Bank of America. If over a weekend you have $150 in your account. You then debit $25 for gas, withdrawl $40 from the ATM, maybe debit a $10 12pk from foodlion and now have say $75 in your account. If forgetting about your balance you head to Best Buy and buy say a new graphics card for $160, on Monday they will "process" your $160 purchase first thus overdrafting your account. Then sure enough each of your other withdrawls of $40, $25, and $10 will all overdraft thus racking up 4 overdraft fees. I'm not sure what the current rate is but i'm guessing they butt fuck you for over $100.

6/5/2007 12:30:11 AM

Ya. Wachovia tried to do something like that to me. I deposited some money (before the 2pm deadline) & then bought a few things, but they only made the purchases count for that day, which caused an overdraw.

I got it reversed, but that's still a bitch thing to do.

6/5/2007 12:37:24 AM

my issue with wachovia was they lost an $800 cash deposit i made at the atm on peace street. i filed a claim, and the assholes closed my account while they did their investigation because i was a "liability" or some crap.

i was basically accused of lying by the claims representative, and they sent me a threatning letter about how it could affect my opening any future accounts with other banks if they decided to report it to some agency.

they eventually found the error and the money, and reopened my account. i told them to screw themselves and keep it closed. the only good thing was i got a call from a manager at that branch apologizing for the inconvenience. this was after i had told them to keep the account closed though, so i don't know how genuine it really was.

6/5/2007 2:56:22 AM

I like them. I've never had any issues with them. Sometimes (which i think happens to anyone, not just secu) i will get over charged for things in my pending transactions, but they straighten out in a day or two. I'm not talking anything huge or substantial, just a few extra bucks here and there. Cashpoints are pretty much EVERYWHERE in NC, but they aren't outside the state anywhere, so be warned of that.

6/5/2007 3:04:34 AM

I've never had a problem with them until recently.

I deposited a check a awhile ago and went about my business. 2 weeks or so later I go to make another deposit and they get the manager to come tell me that my account has been frozen because the check that I deposited previously bounced. I'm wondering why my account is frozen and she tells m e because I don't have enough in my account currently to cover the amount of the check....if I bring in money equal to the amount of the check, they'll release my account.

of course I get upset because I don't understand why they would put the money in my account when I deposit it but then tell me the check bounced TWO WEEKS LATER. Apparently whenever you deposit a check, they just assume its good and give you the money. THEN they send it to the headquarters or something to be processed and make sure its actually good. If its not then they basically take the money back that they put into your account. I also didn't understand why its then my responsibility to come up with the money for the bounced check. I would think that should be the other person and their bank's problem. Apparently not.

Of course this all happened on a friday so I had a whole weekend where I couldn't use my debit card, plus I had some other bills that were automatically drafted my account. Luckily those went through. When I did go back in with the money to cover the bounced check, the lady told me she'd release my account immediately. That didn't actually happen until a couple days later when I finally called them and complained, then she finally released my account.

oh and they charged me 5 dollars because of the bounced check.

I've had my account with them for almost 10 years and thats the first problem I've ever had.
Its not enough to make me want to leave, but it definitely was a nuisance.

[Edited on June 5, 2007 at 3:29 AM. Reason : .]

6/5/2007 3:27:49 AM

^ thats how that process works at any bank, and that 5 dollar fee is about a quarter of what it would be at a normal bank

[Edited on June 5, 2007 at 3:34 AM. Reason : .]

6/5/2007 3:32:27 AM

yeah I don't really blame them, I wasn't aware of the policy (its not like I deposit or write checks that bounce). I did assume that they processed checks a little quicker or at least would have told me as soon as it happened, not wait until i come in to do business later. I was more upset cause the lady was kind of a bitch when i asked her questions, and then when she didn't release my account like she said she would. Otherwise the experience was like i said, just a nuisance.

[Edited on June 5, 2007 at 3:53 AM. Reason : .]

6/5/2007 3:53:16 AM

yeah you just spent a lot of time typing up something that is standard bank policy

good job

6/5/2007 6:12:19 AM

so i guess i'll be the idiot and ask: do you have to be a state employee to have an account there?

6/5/2007 6:48:36 AM

Quote :

"The only bad experience I've had with SECU dealt with identity theft/fraud. They don't have your back in those cases, it seems. They'll credit your account if you file a notice, but their internal investigations department headquartered in Raleigh is very lax, very rude, and they don't give a damn. They also don't prosecute the guilty party even if you have evidence of the fraud. In this regard, they're a far cry from USAA, which I was lucky enough to be able to become a member of."

You got your money back! In some cases don't you think it's less expensive to refund the customer and eat the loss vs' the time and money involved in pursuing legal action. That's your job!

nacstate - Think you're pissed? You know how pissed folks would be if they held every piddly check deposited for 5-7 days until it cleared the Federal Reserve?

6/5/2007 7:06:27 AM

Quote :

"so i guess i'll be the idiot and ask: do you have to be a state employee to have an account there?"

No. You can get an account there by being in the immediate family of an existing member. That's how I opened an account. I would then go on to do a very stupid thing... become a state employee.

All the detailed eligibility rules are here:

http://www.ncsecu.org/AboutSECU.aspx (follow the membership eligibility link)

6/5/2007 7:17:48 AM

yeah I got mine through my Grandma

I really like SECU

6/5/2007 8:14:18 AM

Hmmm interesting. I would contact SECU about that charge for using an ATM. Their policy is no charges for ATM's period.

SECU recently helped my roommate when he was the victim of identity theft in the worst way. We found out when he opened a bill from Sprint for $460. It was for a phone opened several months ago in NYC. Then the Electric bill in florida came in. SECU actually helped him with those.

SECU stood behind me when Paypal tried to fuck me over when someone issued a chargeback for "unapproved charges". Not only did I confirm the guys name, email, address and phone, I confirmed that it was the name, phone and address associated with the credit card used. Hell I called the guy since it was a $3500 sale. Paypal tried to screw me and I went to SECU with this and they stood behind me 100%. Blocked the charges, issued a legal notice to paypal as to why they had a cold chance in hell of getting the funds and let me know my rights in this situation.

I'm nobody to them. I've never had more than $10,000 in any account with them. But they treat me as if I did.

When it really mattered Wachovia failed miserably. SECU rose up.

Nuff said.

6/5/2007 8:19:22 AM

Quote :

"I found this out the hard way this past Tuesday. I used the Wachovia ATM on hillsborough by el rodeo because I was wearing heels and it was raining. I didn't feel like hoofing it down to SECU before the time I needed the money. I was aware of the $2 wachovia would charge, and I didn't give a damn right then. Still got dinged $0.75 from SECU on that one."

NCSECU only has no ATM charges on their end. if you use a non-cashpoints ATM, NCSECU isn't going to charge you but the other bank (whose ATM it was) will charge you. NCSECU has no control over what other banks charge you to use their equipment.

with other banks (wachovia, rbc centura, BoA, etc), if you go use someone else's ATM you will be charged a fee by your bank and the other bank.

6/5/2007 8:39:36 AM

Under ATM and Debit Card Services on the fees page

Quote :

"PLUS Network Completed Transaction Fee $ 0.75"

$2 from wachovia and $0.75 from SECU.

And yes, this is the only time it's ever happened to me. Because it's the first time I've used a non-cashpoints ATM since I got an acct with them.

6/5/2007 9:21:51 AM

SECU will bounce your checks quick. I worked at a store and the only returned checks we would get where from SECU.

Good bank all around. Great place to work too.

6/5/2007 9:24:52 AM

It's a great bank. My only annoyance has been that they're not available by phone 24/7 the way that Wachovia is.

6/5/2007 9:27:05 AM

Quote :

"they will not try to rape you in the ass."

6/5/2007 9:30:22 AM

And if they ever were to (god forbid), they'd go slow, use lube, and give you a reacharound

6/5/2007 9:35:42 AM

My husband and I both moved from Wachovia to SECU and we have never regretted our decision.

My husband had problems with holds being placed on his account. He'd have a hold put on it for $200 that he charged to his check card, the $200 would come out, but the hold would still stay in place. So it would be as though $400 was missing from his account instead of only $200. Then he would start over-drafting his account and they would fee him to death and refuse to do anything to rectify the situation.

We do not any problems with SECU. Their fees are lower and their interest rates are higher. They're extremely personable and will work with you if you need help. We have not had a single problem arise since moving to SECU unlike with Wachovia, where a problem seemed to be around every corner. And their loan people are wonderful! We are building a house and have gone through them to get our mortgage. Unlike CountryWide and some other lenders, SECU took up a great deal of time with us, explaining all of our options and running different scenarios for us. They were even willing to talk to us about some of the loan offerings by the different companies. Admittedly, we might have been able to get a slightly better loan from someone else, but we chose to go with SECU for the simple reason that they were the friendliest and the most helpful out of everyone that we talked to.

6/5/2007 9:37:41 AM

I LOVE my money markey SECU account the interest is fabulous and I only have to keep $25 or so in a regular savings account to maintain it.

I also bank with Wachovia and have never had any problems. But SECU is <3

6/5/2007 9:44:21 AM

thanks for everyone's input, this is exactly what i was looking for! my best bud works there, but i wanted an opinion that wasn't sooo biased i think we've worked out what we're going to do. tdub to the rescue again

6/5/2007 10:17:41 AM

Quote :

"Just my opinion-- figured it was time someone presented a less favorable view of them. There's no way I would go back to banking with them... but my account is still open there for some reason or another. "

ncsukat, i think you are the first person i have ever met that has had any problems with SECU; but from your posts...it seems it was your Step-dad's fault not the bank that they froze your account.

[Edited on June 5, 2007 at 11:07 AM. Reason : /]

6/5/2007 11:06:54 AM

Quote :

"$2 from wachovia and $0.75 from SECU."

that's odd. i've never had a charge from secu (only whoever's atm i'm using) and i've used ALOT of non cash points in state and out of state machines. every big name bank and then some. lucky me i guess.

6/5/2007 11:15:29 AM

I'm switching my main checking accnt from SECU to E*Trade bank b/c they have free ATM + they reimburse you for the charges by the ATM owner. Free money anywhere FTW!

Also, their interest rates are ridiculous: 3.25% for Checking, and 5.25% for Savings.


But I digress, SECU has been really good to me. Especially in terms of fees, they've never charged me for anything in the 10+ years I've had an account with them.

6/5/2007 12:34:28 PM