Finding a Bank

peteyjdFebruary 10, 2009

Does anyone know of a site that tells how safe a bank is? If they own bonds backed by sub-prime real estate or if they received money from the government? I am with Bank of America and the service is a joke. They don't call you back when they say they will. They just emailed my the wrong phone number to call. I have had it. Also they are in serious trouble with the Countrywide and Merill Lynch purchases. Time to say good-bye. Wells has some problems too. ( I live in San Francisco, Ca.). First Republic has a good rep, but guess what? Owned by Merrill, which is owned by B.of A. Any Ideas? And yes I know I'm insured by the government, but if it gets to that point, it would be a huge hassle dealing with them. Better to go now.

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Chemocurl zn5b/6a Indiana

I belong to 2 different credit unions. Both have always given me excellent service.

Sue

Here is a link that might be useful: Finding a Credit Union

    Bookmark   February 10, 2009 at 3:05PM
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klabio

Check out Schwab Bank if you are confortable with dealing remotely. They have interest bearing checking (curently 1%), refund ATM fees (unlimited), and just launched a flat 2% rebate credit card.

I've been dealing with banks and credit unions remotely since the early 90s. Any issues have always been dealt with easily.

I have also dealt for years with Pentagon Federal Credit Union but slowly Schwab's deals have been eclipsing PenFed's. If you are eligible they are good choice as well.

Here is a link that might be useful: Charles Schwab Bank

    Bookmark   February 11, 2009 at 3:11PM
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maryland_irisman

Just an FYI....FDIC only guarantees the principle....not interest. You will get your principle. During the "Thrift" bust some years ago I had some first hand experience with a savings a loan that went belly up. It took 3 months to get my principle only back.

    Bookmark   February 11, 2009 at 11:57PM
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dreamgarden

Here is another tool that might be helpful in your search.

TheStreet.com Ratings Screener

"Get our proprietary screening data on stocks, ETFs, mutual funds, banks and thrifts, and insurers."

A link that might be useful:

www.thestreet.com/screener/index.html?src=ratingsindex&tab=3

    Bookmark   February 12, 2009 at 2:08PM
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joyfulguy

At a credit union - they folks wot do business there ... are the folks wot own the place.

ole joyful

    Bookmark   February 12, 2009 at 7:35PM
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peteyjd

Thanks everyone! That's what I love about this site, I get an answer!

P

    Bookmark   February 14, 2009 at 12:24PM
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kec01

Credit unions are folding/going out of business in this day and age, too. Do NOT assume that they are safe just because they are credit unions.

    Bookmark   February 16, 2009 at 12:46PM
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