Home › Forums › Open Discussion › BECU or AlaskaUSA Credit Union
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October 1, 2011 at 4:14 pm #600748
mypatience1978ParticipantI have been with Bank of America for 16 years, but I am now going to switch due the the $5 a month charge for using my debit card. I am looking into either BECU or AlaskaUSA. I would just like some more input from people who use or have used these places before I make my final decision. Thanks.
October 1, 2011 at 5:34 pm #735765
ensignmarvinMemberI’ve been with BECU for about 20 yrs and have been very happy with them. Good online banking, a few cash machines around, Thriftway lot and Roxbury Safeway are closest. Even big fancy buildings, one in Tukwila the other in Everett, if you want to sit down and discuss face-to-face with someone.
October 1, 2011 at 5:43 pm #735766
KatherineLParticipantI’ve heard good things about BECU. I’ve been a member of the city credit union (Seattle Metropolitan Credit Union) for many years. It doesn’t have local ATM’s that I know of; I just get cash back when I buy something or use my debit/credit card. They don’t have a fee on their debit cards. I think the nearest branch is the main office downtown, very close to the bus route. Their customer service is excellent. Not trying to sell you, just another option.
October 1, 2011 at 7:24 pm #735767
mightymoParticipantI have no experience with the other credit unions, but BECU is nice. They also have two ATMs in Admiral, one outside the Safeway on California and one in the store (open 24 hours). You can also use ATMs in 7-11 stores for no fees. The online banking works well. They don’t have a branch close by but I find that I don’t have a need to go in very often. At Summerfest, a representative says they’re always looking into adding a neighborhood service center and that West Seattle is under consideration; with all the development in the works and empty storefronts, I’m sure they have options.
October 1, 2011 at 7:39 pm #735768
elikapekaParticipantWe belong to Watermark, recently merged with Sound. They have branches in Burien and downtown that I use, as well as other locations. No fees for anything, nice people. I use the BECU ATM’s if I’m in West Seattle.
Just make sure any credit union you join participates in shared branching and you can use any participating credit union’s ATM’s or branches. The only caveat is that deposits sometimes take a couple of days to clear if you make a deposit at a different credit union’s branch or ATM. I’ve used branches at other credit unions all over the country that are shared branching participants and everything works smoothly.
October 1, 2011 at 7:46 pm #735769
wundrgrrrlParticipantI’ve been with Alaska USA since 1994 and love them. I’ve lived in 3 states and never had any issues finding access. Their online system works really well too. It’s been a while since I’ve needed any loans, but when I did, rates were good and the process was smooth.
As far as physical locations, the QFC has great hours (open even on Sunday!) and the downtown loc isn’t far from work. Service has always been very good as well. They have a sort of “sister network” so you really can go into just about any credit union when necessary.
No negatives to report from my perspective at all!
October 2, 2011 at 2:01 am #735770
MousePotatoMemberWe have also been with AlaskaUSA and love them. Highly recommend. Love the hours at the QFC but you can also use the BECU cash machines for no charge. Great people that quickly get to know you personally.
October 2, 2011 at 7:38 pm #735771
elikapekaParticipantOne little caveat about credit unions. When you get a loan with one, they usually “cross-collaterize” their loans. For instance, if you have a Visa card and an auto loan, those are tied together. So if you default on your Visa, they can in theory repossess your car. One thing I’ve learned in my job over the years is if you have any hint of financial troubles, don’t keep your money in the same place where your borrow.
October 2, 2011 at 8:08 pm #735772
dobroParticipantI’ve been thinking about doing this too since I am a BOA customer. I know BECU is affiliated with Boeing. Is Alaska something to do with Alaska State Employees?
October 3, 2011 at 3:29 pm #735773
GoGoParticipantI joined AlaskaUSA this weekend, leaving BOA. Don’t forget that not only are they going to charge you to use your debit card, but they are NOT charging this fee to anyone who has $20,000 or more. So once again the little guy gets screwed. Screw BOA!!!
October 3, 2011 at 4:49 pm #735774
KBearParticipantDobro, BECU is not owned by Boeing, if that’s what you mean by “affiliated with”. While it was begun by and for Boeing employees, it is member-owned and membership is now open to anyone who lives in Washington. Both BECU and AlaskaUSA have histories on their web sites.
October 3, 2011 at 8:19 pm #735775
skeeterParticipantGoGo – keep in mind that the guy with $20,000 or more at BOA is generating far more revenue for BOA than the guy paying a $5 fee with a balance of $650. BOA is a for profit business. So they are making money off of all their customers – big and small. BOA performs a service. Some customers are willing to pay for it. Others find different alternatives. I don’t see why it would anger someone.
October 3, 2011 at 8:23 pm #735776
skeeterParticipantWells Fargo has a pretty good deal if you are willing/able to keep a pretty large balance in either your savings/checking/CD/loans/brokerage account. You get 100 free stock trades per year in your brokerage account with the premium account. Again, there is a sizable minimum balance, so this isn’t for everyone.
October 3, 2011 at 8:29 pm #735777
JasperbluParticipantLeft BofA and US Bank and moved my accounts to BECU and have been very happy, as happy as one can be with a bank anyway. Was a member of a credit union in AZ when I was still a state employee there and always liked my experience there as well. Depending on your needs, your long term plans, how often you need an ATM, etc. should guide your decision w/ regard to Alaska or BECU. Just be sure you can use OTHER credit unions for deposits, ATM’s, etc. (BECU offers that), it’s very helpful!
October 3, 2011 at 9:59 pm #735778
KlauseMemberelikapeka — “cross-collaterize”, isn’t quite true. I’ve been with BECU for 27yrs and I have yet to have them “cross-collaterize” my visa and any car loans. They keep them both very seperate. I have also been a BECU employee in the past and have not seen this practice.
Overall, Credit Unions are the way to go. Less fees, better dividends(interest)and better loan rates. ATM’s are available all over due to the fact that they share services with other credit unions. The 7-11 ATM’s are a good example of that. Definitely have a customer service agent explain all options that Credit Unions have to offer.
October 4, 2011 at 9:46 pm #735779
Michael WaldoParticipantI was with B of A for 20 years and got tried of all the games. I had a B of A visa card at 18%. I switched to BECU and got a card for 8%! transferred my balances and quit B of A. I couldn’t be happier with BECU. Credit unions take their profits and use them to keep rates low. Big banks take their profits and pay their CEO’s $20 million a year.
October 4, 2011 at 10:30 pm #735780
KenParticipantok I have been ready to move for a long time. Inertia is powerful.
Which credit union has the best online banking? Other than deposits I do nearly everything online.
I have a nearly dead watermark account since the online was so bad last time I looked. (several years ago)
October 4, 2011 at 10:34 pm #735781
JustSarahParticipantKen, you can do everything online with BECU, including deposits (checks, not cash, obviously!). Their web interface is intuitive and secure.
And in poor experiences:
I had a loan through AlaskaUSA just a few years back (opened in 2008) and their online banking interface seemed very outdated. I had to actually go to a branch to sign up for online banking. Boo!
October 4, 2011 at 11:09 pm #735782
elikapekaParticipantKlause, BECU does have a very good reputation.
I am simply relating my experience working with people in bankruptcy situations. Most credit unions do have that cross-collaterization in their loan documents, but most customers are unaware. Sometimes (not always) it has caused big problems for people – but I’ve never heard of BECU being anything but helpful in those situations.
October 4, 2011 at 11:53 pm #735783
BostonmanMemberI have 3 accounts with BofA and 1 with BECU. I say I like them both. The only downside to BECU is they don’t have any locations locally in West Seattle. They have been absolutly great every time I have been there though. They gave my kids chocolate chip cookies last time.
October 5, 2011 at 4:33 am #735784
JayDeeParticipantWhen I learned I could scan a check and deposit it at home with BECU I asked (rhetorically) if they could e-mail me cash that I could print on my ink-jet printer.
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Ken: BECU is pretty on-line friendly since they have no real branches (the local exceptions being the Roxbury Safeway and 2nd and Pine downtown). They would prefer to deal with you on-line. I don’t generally need “hand holding” so BECU has worked fine for me since I left BofA (Now that we have our Admiral Safeway ATMs back).
October 5, 2011 at 4:42 am #735785
TrickParticipantI’ve been with Alaska since 1999.
Always have been treated very personable and they always know who I am when I walk into the Westwood branch.
I have had both my car loans which rates beat most banks.
Online banking with them is pretty easy than it was a few years ago.
I wish they had more locations is the only downside.
October 5, 2011 at 11:34 am #735786
metrognomeParticipantwith few exceptions, I have used credit unions since I was a kid. I would rather invest my money in a co-op than in a for-profit bank. Same reason my insurance is through PEMCO and I shop at PCC or at least a local store when I can.
Many CU’s are offering a bonus for new members or current members who refer a new member (unrelated to BofA’s self-inflicted stupidity). For the typical person, their range of services and accessibility by ATM, phone, computer and shared branches are very competitive with banks; you have pretty easy access to your account in this country. Not sure about traveling outside the US.
One thing to note … ‘your [CU] savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government’ via the Nat’l CU Administration, a U.S. Gov’t Agency, rather than the FDIC.
Also, it used to be one had to be a member of the CU’s target group, i.e. be a Boeing employee or relative, to join. The law was changed a few years ago so that ‘open charter’ membership is now open to almost anyone. As a result, many CU’s are changing their names. Boeing Employees CU is now BECU, Group Health is now Salal, King County is now Prevail; many still retain their core customer source.
Interestingly, Salal CU defines those who are eligible as: “everyone who lives, works or worships in Washington State is eligible to become a member.” I guess I worship dark chocolate, so I can be a member
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