Since I started my first real job, I've had an account at a local credit union. It used to be specifically for employees of a certain company, but has expanded to include anybody who wants to start an account. For all of these many years, I've gotten a quarterly statement.
Earlier this week, I got my statement. I was shocked to see two charges of $5 each, billed as PAPER STATEMENT FEE. I know a lot of places charge for the paper statement. I think my regular bank charges $2, as does another institution where Hick currently gets a quarterly statement for HIS money. I don't mind paying that, because sometimes I just want a paper statement for reference. My issue is with the "surprise" of these two charges, and the fact that I only received one of the statements.
I know that this credit union has been pushing online accounts for a while. They had started offering more and more services over the years, including checks and online banking, whereas it used to be just a savings account kind of business, with Christmas Club accounts, and loans for cars. I had thought about setting up an online account, but all I would do with it would be check my balances in my CDs and regular account. The less info out there to be stolen online, the better! So I figured my quarterly paper statement was just fine.
When I saw these fees, I was concerned. One was for July, which is understandable. It was the 2nd Quarter statement. But the other was for AUGUST! And I didn't even get a statement then. What's up with that? Is the credit union going to act like a bank now, and send out MONTHLY statements? I'm not paying $5 a month! I went online to see about setting up an account, but the first thing that came up was a warning that it was NOT SECURE. I went in a different way, which gave me the same screens, and appeared to be secure. But I was leery.
I called the credit union. A very nice lady listened to my complaints.
"I don't remember ever seeing that it would cost me $5 a month for my statements! Is that a thing now? Because I used to only get them quarterly."
"We have been advertising this since November 2024." [Which means that IF they had included it on the newsletter tucked in with the quarterly statements, I would have seen it twice, but if it was online, I would not have seen it at all.]
"I know about the availability of the online accounts. But I never saw that fee mentioned."
"The paper those statements are printed on is incredibly expensive!"
"So what do I need to do, just go online to set up a password for my account, and then the paper statement fee will go away from now on?"
"Yes, or I can do that for you right now."
"What? Then do that for me! Because I really don't want an online account."
"Okay. It's done."
"Thank you! I also have a son who has an account there. I think I'm still on it. I guess you're not allowed to take the fee off of that account also?"
"Yes. I can do it. There. I fixed that one."
"Thank you so much!"
"Any time you come in, or if you call ahead, we can print you a statement on regular paper."
"That's great! My husband comes in there once a month to make a deposit. So he could get one then, if we wanted one?"
"Yes. We can do that."
"Thank you! You have been very helpful. I really appreciate it."
See there? Val dodged another sign of progress! And it only cost her $10.
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