Millard discussed on KRLD Programming


To you finally ready to have you here Millard I understand your aggravated with how I praise credit unions all the time is that accurate well kind of I've heard you go on rants about the evil mega banks know that now and giant monster mega bags exactly and I couldn't agree more I'm proud to say that I'm with the small locally owned banks with less than a dozen branches and very very happy they've been great to me but here in my community which is a metropolitan area of nearly a million people we're dominated by America credit union and it's very very hard to get away from them the smaller credit unions are farming off some of their services to the large credit union so that we get caught in the same loop of no customer service that the big banks have been offering for years are you are are bringing up a very valid point credit unions are going through kind of an awkward adolescence and it's for a specific reason their credit union industry is having to have it because people who are in their twenties and thirties only want to do banking on their smartphones and setting up really really sophisticated apps requires huge money and a lot of smaller credit unions don't have enough funds to super serve there are people in their twenties and thirties who were never going to bank like maybe I did growing up and so to their credit unions are having the bulk up in is they become larger or as they go into these cooperative efforts with other credit unions they become more bureaucratic and not as personal as the experienced people been use to well the problem that I had the large credit union who was that I left them because of problems servicing my mortgage and I refinanced at a much better rate a couple of years ago to my local credit union only to find out that my local credit union was outsourcing all of the service for the mortgage loans to the mega credit unions so when you talk about a mega credit union there is only one shy norm credit union in the country that's a nother Clark term and that is navy federal but even navy federal is like one twenty fifth the size of one of the giant monster mega banks and so the larger credit union and may have some bureaucracy to it it's still relative to the size of even a regional bank right smaller entity and I'm sorry that you felt you weren't getting great service from them but you made the decision and you did another great decisions you went to a small local bank and that's another great choice so I I do support that you are letting your feet walk to where you were happy and where you're getting the best service and that's a great decision on your part and you know credit unions the way they're structured we're going to be generally a better choice than a bank but credit unions are not a monolith they can be good ones bad ones in in between just like there are with banks you're listening to the Clark Howard show this is a commercial announcement newsmax TV is your best source for the latest on the coronavirus story even president trump says he likes newsmax newsmax TV is already the fastest growing cable news channel in America now newsmax is also doing a poll asking Americans if they support president trump's handling of the crisis so take part in newsmax is national poll on your phone just text the word open.

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