Posted 10/14/2021 08:55 (#9268293 - in reply to #9268089) Subject: RE: Credit Union vs Big Banks
My local bank that I have done everything with, including land and farm loans, was bought by a credit union. The past president before they sold was telling me that credit union’s had more lenient lending criteria and it was hard to compete with them. True or not I don’t know, he probably already knew they were going to sell and was just prepping me. No changes occurred with lending. Was also told that was why they wanted to buy it because of it’s commercial and agricultural portfolio. Personal banking and daily accounts absolutely stink. Big bank mentality, gutted the local staff, call the local number and transfers you to menu in Michigan. The local staff was gutted and partially replaced with people from out of town because no one wants to stay there. So the credit union part was a relatively smooth transition, but ABSOLUTELY stay with a local bank!