I’ve been a customer of my credit union since… at least 1998, maybe 1997. I joined because their main office was about a 30-second drive from where I worked, and their free checking account was really free at a time when most banks still had minimum balance requirements.
It has been tempting to leave them on several occasions. When I lived in Germany, Citibank’s worldwide branches were nearly irresistible. Back in the States, living in Sunny Isles Beach, the 90-minute round trip from home to the nearest branch was a massive inconvenience (WaMu’s then surcharge-free ATMs were a blessing). Now they have a branch much closer to where I live, but it’s still horribly out of the way.
But then I remember how well they treat me. They’re always nice, and not in that fake way, but when I’ve had very large deposits I am a rock star. When my credit sucked and I couldn’t get a decent car loan — here’s a tip, make sure all your bills get paid before you move abroad — they actually gave me a great deal. Every credit and loan request has been met with prompt approval, minimum fuss, and much better rates than my credit score would suggest.
Today I asked for a better deal on my VISA. They’re going to re-issue it as a Platinum, raise my limit by 2.5X, and my interest rate will drop to nearly the lowest that they offer. It’s now the cheapest card in my wallet by a long shot and just a couple hundred bucks shy of my highest limit. I wish that I’d asked sooner — I’d been carrying a balance for most of the past year.
I stick with them because they’ve always treated me as a highly valued customer. How many banks still do that?
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