“These are the times that try men's souls.” | Alberta Pioneer it sounds like you need to rattle chains or move on to the next bank. Back in 09' I had never had a operating loan until that time. All economy went south, I had tried my local banks that I had dealt with and had 100% of my business in home construction and savings & checking. Well they were totally unrealistic in their interest they wanted and collateral. So I called a Ag Credit bank, the vice president of that bank personally came to my house and reviewed my books. We had had a knowledge of each other over a lifespan of more than 25 years, taking to each other at events etc. But I had never done business with them.
He gave me a verbal approval of 2/3's of what you needed to borrow and unsecured. It totally blew me away. He read between the line and saw we just had a cash flow problem that would end in less than 10 months. So we left the local banks we had dealt with over 10 years, went with this Ag bank and switched checking to a credit union. Well last two years that credit union, has given us grief over depositing large checks in their opinion. That would be anything from $3,500 to over $100,000 they gave trouble like it was drug money. So in fact we kept those accounts at credit union, but we just opened new accounts at a old bank that just came to local town not far away. They branched out into another state and it's closer for us to deal with them now.
So point is it doesn't hurt to move or talk to new banks every 5-7 years and see what they will offer you. Loan officers change, policies change. I couldn't believe that credit union didn't care that my son and I pulled 1/4 million out right then. Gal didn't want us to close accounts, but didn't care about money leaving. I guess they are more in tune with dealing with customers that constantly come in over drafted 100 bucks on their debit card. In fact she told my son and I they just couldn't deal with our larger deposits. I shook my head as we are small potato's in our money. The new bank down the road a 1/2 mile was very glad to get our money that day.
My point is the bank should be working for you, not the other way around. Operating money if at all possible is nice to fund yourself, however there will be times in your life you will need a bank. At that point the bank should be working for you. |
Appropriate time to wait for banker
