ginger Posted October 18, 2021 Report Share Posted October 18, 2021 I need a more relationship based banking experience. SEFCU isn't cutting it for me anymore. You would think with their impending consolidation with CAPCOM they would be looking for business instead of alienating long established customers. I'm doubting their commitment to Broome County as I've heard a couple of other stories from members regarding PPP loans etal. Suggestions? I've been with SEFCU for 40 years...well there were a lot of consolidations...I think it's time to cut ties with them and try something new. Quote Link to comment Share on other sites More sharing options...
ginger Posted October 18, 2021 Author Report Share Posted October 18, 2021 Oh look...I guess I knew this was coming...Biden has to go...Talk about climate change? This business climate sucks. Quote Link to comment Share on other sites More sharing options...
Bo Marsh Posted October 18, 2021 Report Share Posted October 18, 2021 You can try other banks but there probably won’t be much difference. There is no loyalty to customers anymore. They don’t care if you stay or go. None of them. The days of getting a free toaster for being a loyal customer from your insurance company or bank is over. They won’t even cough up a free balloon either. Pick the one that is most convenient for YOU. We’re only numbers to them. Quote Link to comment Share on other sites More sharing options...
FormerSomeone Posted October 19, 2021 Report Share Posted October 19, 2021 I've been with Visions since they absorbed Two Rivers and have no complaints. For savings we use M&T and, again, no complaints. They were both very helpful with an unpleasant Power of Attorney I had to go through with my parents end-game and made it smooth (though nothing could have made it painless). Quote Link to comment Share on other sites More sharing options...
ginger Posted October 19, 2021 Author Report Share Posted October 19, 2021 You're both probably right. I don't understand how they can expect people to have stellar credit scores coming off the economic downturn, plus continuing covid drama. The credit score is more important than a 40 year business relationship and ability to repay a simple 2 yr loan? It's not like they don't know how much I have deposited each week since I have direct deposit. I guess economic recovery isn't part of their lexicon. I'm glad they feel comfortable in their current position. I think I'm going to move everything to GPO in Utica/New Hartford area. I already have a savings account there. Inconvenient (shrug) I just don't want to do business with SEFCU anymore. Quote Link to comment Share on other sites More sharing options...
FormerSomeone Posted October 19, 2021 Report Share Posted October 19, 2021 My Dad gave me a great bit of advice in the 1970's: "never buy a car on credit." I never have and that has made a BIG difference (I believe). Though I had some $200 horror stories that cost as much to keep rolling as monthly payments might have. Up to $2,000 clunkers in slightly better shap. Eventually it got better and I learned to work on my own cars and trucks. After a series of new cars and trucks I figured vehicles were gettimng better (especially with 5-year user car warranties) and I started to pick used again. Current SUV is a 2017 Limited Edition with all the bell and whistles and I go for two years old with less than 25K miles and pay cash. House is paid for as well; though that took five years to pay off. If you borrow you are working for the bank but get no benefits. Quote Link to comment Share on other sites More sharing options...
PeteMoss Posted October 19, 2021 Report Share Posted October 19, 2021 9 hours ago, FormerSomeone said: My Dad gave me a great bit of advice in the 1970's: "never buy a car on credit." I never have and that has made a BIG difference (I believe). Though I had some $200 horror stories that cost as much to keep rolling as monthly payments might have. Up to $2,000 clunkers in slightly better shape. Eventually it got better and I learned to work on my own cars and trucks. After a series of new cars and trucks I figured vehicles were getting better (especially with 5-year user car warranties) and I started to pick used again. Current SUV is a 2017 Limited Edition with all the bell and whistles and I go for two years old with less than 25K miles and pay cash. House is paid for as well; though that took five years to pay off. If you borrow you are working for the bank but get no benefits. Everything you wrote is especially appropriate now. If you are going to buy a used car for, let's say $10K The highest interest rate you can get will be 0.5% per year. That is $50. That $50 will be considered income and it will be taxed at the highest rate that you pay. If you buy the car with it, you will not have payments to make and in fact may get a better deal since you are paying in cash. Of course do not use all your money. You need to have some cash readily available. Quote Link to comment Share on other sites More sharing options...
27 Time World Champions Posted October 19, 2021 Report Share Posted October 19, 2021 9 hours ago, PeteMoss said: Everything you wrote is especially appropriate now. If you are going to buy a used car for, let's say $10K The highest interest rate you can get will be 0.5% per year. That is $50. That $50 will be considered income and it will be taxed at the highest rate that you pay. If you buy the car with it, you will not have payments to make and in fact may get a better deal since you are paying in cash. Of course do not use all your money. You need to have some cash readily available. You never get a better deal if you’re paying cash. The dealer wants you to finance the car. That’s why you pretend you’re going to finance the car, get the better deal and then surprise them at the end and say you want to pay cash instead. Watch all Hell break loose. I’ve done this more than once. Never fails. Quote Link to comment Share on other sites More sharing options...
ginger Posted October 19, 2021 Author Report Share Posted October 19, 2021 Of course you are all right and that was the case...I wanted to keep the cash on hand and purchase a used Jeep...between $12--13K for winter...borrow 10k and dip into cash for the balance...should have a been a no brainer for my bank..I wasn't asking for a car loan. .. not like I haven't had a dozen or more through them over the years. But OK...whatever, now the cash won't be in reserve for them either. Quote Link to comment Share on other sites More sharing options...
ginger Posted October 19, 2021 Author Report Share Posted October 19, 2021 lol..I just wanted the car yesterday...it's fine...as long the snow doesn't fly for a few more weeks! Quote Link to comment Share on other sites More sharing options...
FormerSomeone Posted October 19, 2021 Report Share Posted October 19, 2021 2 hours ago, 27 Time World Champions said: You never get a better deal if you’re paying cash. The dealer wants you to finance the car. That’s why you pretend you’re going to finance the car, get the better deal and then surprise them at the end and say you want to pay cash instead. Watch all Hell break loose. I’ve done this more than once. Never fails. That's true. It used to be they loved the fast cash deal without the bank delay and would shave something off or toss in extras- but now the "extras" are all expensive packages and they're not offerred on used vehicles. Now most large dealers try to do internal financing through the manufacturer and they get more from the interest than the margin on the car. But, financially, you're still ahead if you're not paying that interest. Quote Link to comment Share on other sites More sharing options...
Bingoloid Posted October 20, 2021 Report Share Posted October 20, 2021 Ginger, if you're really looking for auto finance, you might try a rate check through Lightstream.com. They do all kinds of personal loans. I used them a couple times in the past and trust them not to screw things up. If your credit score took a hit you might not be thrilled with the rate, but I understand they're pretty flexible about approvals and it might still be better than you'll get anywhere else. (If you need any information about how to improve your credit score quickly, you can also send me a message about what happened and I'll try to help, I am familiar with how they're calculated and sometimes it can be fixed in just a couple weeks.) As for banking in general, my bank doesn't do personal/auto, but I used to bank with Chase and it was far and away a better customer experience than local banks or any bigger ones I've dealt with. They do have a local branch in Vestal now. Quote Link to comment Share on other sites More sharing options...
2pelo Honey Posted October 20, 2021 Report Share Posted October 20, 2021 20 hours ago, ginger said: Of course you are all right and that was the case...I wanted to keep the cash on hand and purchase a used Jeep...between $12--13K for winter...borrow 10k and dip into cash for the balance...should have a been a no brainer for my bank..I wasn't asking for a car loan. .. not like I haven't had a dozen or more through them over the years. But OK...whatever, now the cash won't be in reserve for them either. Ginger, so you're saying you wanted an unsecured loan for the 10k, instead of a car loan? Rates will always be higher for that, due to exposure. Sorry if I misread. Quote Link to comment Share on other sites More sharing options...
ginger Posted October 21, 2021 Author Report Share Posted October 21, 2021 On 10/20/2021 at 1:09 PM, 2pelo Honey said: Ginger, so you're saying you wanted an unsecured loan for the 10k, instead of a car loan? Rates will always be higher for that, due to exposure. Sorry if I misread. You didn't misread, thing is..I asked for a 2 yrs loan but I was going to pay it off over the winter, I hate having a car payment.. so the interest didn't really factor in for me. Quote Link to comment Share on other sites More sharing options...
2pelo Honey Posted October 21, 2021 Report Share Posted October 21, 2021 42 minutes ago, ginger said: You didn't misread, thing is..I asked for a 2 yrs loan but I was going to pay it off over the winter, I hate having a car payment.. so the interest didn't really factor in for me. Well, you could always take out a car loan, even w/ longer term, and pay it off early. Quote Link to comment Share on other sites More sharing options...
ginger Posted October 21, 2021 Author Report Share Posted October 21, 2021 I could but they want me to purchase a car that's too expensive for my use. I made this mistake once with my first Jeep...it was a $28,000 vehicle with a five year loan but I blew through it in less than 3 years at 370 K miles and then had to keep paying for another 2 years. So I'm paying for a car I no longer have. I should have purchased another car and kept the Jeep as my "good car" or only used it for winter. The Jeeps I'm looking at are $10-13K with a 100K miles.. I'm looking for a $5,000/100,000m expenditure per year...to only drive in winter...so I could potentially have that as a winter car for 3 years. All I know is the Ford Focus is not going anywhere I need to be...the engine isn't going to be big enough for the job in snow and I keep have problems with road kill in construction zones...I blew $2 g's in August and September on tires alignments tie rods...plus I ran over that tree in July...grrrr! I need a higher profile vehicle. lol If i move to Tampa all I have to worry about is hitting cranes and river seals..did I tell that story? About when I was in Florida and a river seal flopped itself out the road in front of me? My brother kept telling me there are no deer in Florida so I can relax and stop looking for them. On my last day there this thing comes out of nowhere. MY mind refused to believe it was a seal..I wasn't near the ocean. I thought it was an otter but I guess otters have claws. This thing definitely had flippers. It was brown like these...it was using it's flippers and tail to propel itself wish I could find a better example. Quote Link to comment Share on other sites More sharing options...
ginger Posted October 22, 2021 Author Report Share Posted October 22, 2021 OMG...lol... have a good night everyone! Quote Link to comment Share on other sites More sharing options...
ginger Posted February 2, 2022 Author Report Share Posted February 2, 2022 I hope no one needs to access their SEFCU account...they're experiencing difficulties. I can't even get a balance via phone or computer. I'm guessing I can't use my card either since it won't recognize my pin number. BUT I DON'T NEED TO HAVE A FULL TANK OF FUEL IN THE NEXT 40 MINUTES! LOL no worries...but what if I didn't have alternatives? Quote Link to comment Share on other sites More sharing options...
PeteMoss Posted February 2, 2022 Report Share Posted February 2, 2022 ransomware ? Quote Link to comment Share on other sites More sharing options...
ginger Posted February 2, 2022 Author Report Share Posted February 2, 2022 5 hours ago, PeteMoss said: ransomware ? I don't know but it's fixed now..an acquaintance said she couldn't access her account as early as 8am yesterday. Online and dial kept saying I don't have an account. Finally I used dial on my land line and it had a message they were have difficulties. Quote Link to comment Share on other sites More sharing options...
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