Mitch Haley via Mercedes <mercedes@okiebenz.com> writes: > Commercials for credit unions and mutual insurance companies are the > first obvious sign that management is running it as a for-profit > business, instead of for the mutual benefit of the member-owners. At > that point, the best you can hope for is demutualization with a chunk > of free stock shares going to you as a prior owner.
My employer credit union was originally open to Indiana University employees only. Then they started accepting anyone employed in education at any level. Now they are open to anyone, and even offer business accounts and business lending. They've basically turned into a commercial bank, complete with punishing fees for overdrafts, minimum balances, etc. They are generally not competitive on mortgage or auto loans anymore. Due to inertia, I haven't looked at alternatives, but occasionally think that maybe I should. Allan _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
