If they just mirrored the silhouette image in the pic above it would look like he was walking off the roof of a bank. If this keeps up I'm sure there will be some (more) of those happening.
Kind of off topic, but does anyone know why credit unions are doing away with shared branch services? They are still doing the CO-OP ATMs but you can no longer go into a different credit union and withdraw money.
I used to be able to go into my local credit union where I am a member and transfer money to and from my other credit union. Now I was told that I will either need to link them in their apps or withdraw money from the ATM and then deposit it through the ATM.
FYI - shared branches are a partnership between other credit unions. Nothing to do with your own CU's branches. They allow you to walk into a CU that you aren't a member of and deposit or withdraw money at their facility - from your CU.
I used to do that when I was going to a casino in OK if I won a lot of money and didn't want to carry cash. I didn't have any branches for my own CU anywhere near me because I moved from FL to TX, so I would just hit a shared branch on the way home and deposit cash. Worked great. I later found out that if I hit a big enough jackpot I could ask the casino to cut me a check and I would just deposit it over the phone. I did that several times for anywhere from $5k to $30k. That also kept me from spending my winnings, and allowed me to use them for my kid's tuition.
I just noticed that myself. I recently had to get POA on my mom (she is in the late stages of dementia) so I could figure out how to get Medicaid for her so she can be in a good nursing home. I know most aren't good, but this one actually is.
Once I got a qualified income trust setup for her I had a required amount of money that had to be deposited into the trust each month, and the remainder of her nursing home charges had to come out of one of her own credit unions. She is in FL and I am in TX and it is difficult moving the money around when you start the process. I was looking for a shared branch for her local FL CU and found one about 200 miles form me. Her other NATIONAL, FEDERAL credit union has zero shared branches anywhere. I did finally figure out how to make things work using linked accounts and billpay, and now that I finally got checks made up I can write a check to her from her and deposit it on the phone app. I still have to mail the one from the trust though, due to Medicaid regs.
My guess is the bankers or the fed somehow wasn't making enough money with people using shared branches so they are making it prohibitively expensive for credit unions to do that anymore. No evidence - just a gut feeling.
https://twstalker.com/ShadowofEzra/status/1821713182378840564
I don't trust those ATMs for putting cash in. I gotta have the bank open to put cash in.
If they just mirrored the silhouette image in the pic above it would look like he was walking off the roof of a bank. If this keeps up I'm sure there will be some (more) of those happening.
Kind of off topic, but does anyone know why credit unions are doing away with shared branch services? They are still doing the CO-OP ATMs but you can no longer go into a different credit union and withdraw money.
I used to be able to go into my local credit union where I am a member and transfer money to and from my other credit union. Now I was told that I will either need to link them in their apps or withdraw money from the ATM and then deposit it through the ATM.
I use a credit union but only one.. I'm able to use other locations of the same credit union.
FYI - shared branches are a partnership between other credit unions. Nothing to do with your own CU's branches. They allow you to walk into a CU that you aren't a member of and deposit or withdraw money at their facility - from your CU.
I used to do that when I was going to a casino in OK if I won a lot of money and didn't want to carry cash. I didn't have any branches for my own CU anywhere near me because I moved from FL to TX, so I would just hit a shared branch on the way home and deposit cash. Worked great. I later found out that if I hit a big enough jackpot I could ask the casino to cut me a check and I would just deposit it over the phone. I did that several times for anywhere from $5k to $30k. That also kept me from spending my winnings, and allowed me to use them for my kid's tuition.
I just noticed that myself. I recently had to get POA on my mom (she is in the late stages of dementia) so I could figure out how to get Medicaid for her so she can be in a good nursing home. I know most aren't good, but this one actually is.
Once I got a qualified income trust setup for her I had a required amount of money that had to be deposited into the trust each month, and the remainder of her nursing home charges had to come out of one of her own credit unions. She is in FL and I am in TX and it is difficult moving the money around when you start the process. I was looking for a shared branch for her local FL CU and found one about 200 miles form me. Her other NATIONAL, FEDERAL credit union has zero shared branches anywhere. I did finally figure out how to make things work using linked accounts and billpay, and now that I finally got checks made up I can write a check to her from her and deposit it on the phone app. I still have to mail the one from the trust though, due to Medicaid regs.
My guess is the bankers or the fed somehow wasn't making enough money with people using shared branches so they are making it prohibitively expensive for credit unions to do that anymore. No evidence - just a gut feeling.
It just seems very 15 minute city to take away our ability to have banking flexibility geographically.
remember....the FED was 'rolled into' the US Treasury by Trump
Minds will be blown when the sheeple find out...🐑🤯
Like any other business, they are struggling to remain profitable.
When fat with profit, they way overbuilt and are now beginning to feel the pain.
I saw one near me vacate their building, only to have a pot dispensary take over.
Cash is king. And so is having an underground vault.
My dear sister, the picture makes it appear as if the Federal Reserve packed its bags and is gone.