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Would you move to get into a good credit union?(for a short time)
Old 10-07-2011, 09:30 AM   #1
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Would you move to get into a good credit union?(for a short time)

If you stayed in a motel for a week would that be enough time to get into a local credit union?
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Old 10-07-2011, 09:43 AM   #2
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If you stayed in a motel for a week would that be enough time to get into a local credit union?
Why do you want to do this?

The credit union might object to a local motel as a permanent address. If you did record that as your permanent address for the credit union but not for any other purpose, you might be violating provisions of the Patriot Act.

What advantage does this credit union have that justifies paying a week in a motel?
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Old 10-07-2011, 09:45 AM   #3
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Plenty of good CUs around and you can always join PENFED. Each CU has its own terms for joining, find ones you are interested in and check their requirements, some are not based on geographical location.
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Old 10-07-2011, 09:47 AM   #4
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Some pay a lot higher interest. I did not know about violating provisions of the Patriot Act. I would hate to end up in jail over trying to get higher interest. Imagine trying to explain that to your cell mates.
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Old 10-07-2011, 09:49 AM   #5
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Most of these rules have been relaxed or there are easy work arounds. Did you ask the specific CU about joining? Sometimes a member needs to sponser you and you most always need $5.
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Old 10-07-2011, 09:55 AM   #6
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That is a great idea jayc the only problem is that it is a local credit union 1000 miles away. I don't know anyone in the town. They require you to live in the same county as the credit union. Many of the national ones are easy to get into but not the local ones.
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Old 10-07-2011, 10:01 AM   #7
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That is a great idea jayc the only problem is that it is a local credit union 1000 miles away. I don't know anyone in the town.
Hang around a local bar and see if you can get a girlfriend in that town. Know how to slow dance?
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Old 10-07-2011, 10:05 AM   #8
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Good idea haha but what are the odds she belongs to the right credit union. Maybe ask which women love credit unions before the dance.LOL
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Old 10-07-2011, 10:25 AM   #9
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Maybe ask which women love credit unions before the dance.LOL
As I recall, that always was my best pick up line,,
Hey baby, you're even hotter than my Credit Union.




Did you search Bankrate?

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Old 10-07-2011, 11:21 AM   #10
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Would you move to get into a good credit union?(for a short time)
You have GOT to be kidding, or at least I hope so! No, I wouldn't move to get into a good credit union. Internet banking might be a solution if your local banks and credit unions aren't paying much interest at the present moment.
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Old 10-07-2011, 03:37 PM   #11
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I was thinking of only a short term move W2R maybe a few nights or a week but it looks like it against the law.
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Old 10-07-2011, 03:46 PM   #12
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Some pay a lot higher interest.
Would the gain you get from the higher interest pay for a motel for a week?
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Old 10-07-2011, 03:50 PM   #13
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Surely there are decent CUs in St. Louis or that you could join from a distance?
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Old 10-07-2011, 04:07 PM   #14
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Would the gain you get from the higher interest pay for a motel for a week?
Yes and then some but since it is against the law I have ruled it out.
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Old 10-07-2011, 04:13 PM   #15
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No.
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Old 12-10-2011, 10:15 AM   #16
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I'm also a resident of the Gateway to the West. I'd second the nomination for PenFed -they have very good rates (mortgages as well as CDs), a great no-fee credit card (1.25% cash back on everything, 5% cash back on gas), and allow on-line access. Just cost $20 one-time to join the NFMA to qualify.

If you're really that hard-up for an extra 0.2% yield on CDs, there are other sources (like brokered CDs) that can help you squeeze a little more yield compared to what your bank or current T-Bills/Notes/Bonds are offering.
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Old 12-10-2011, 04:34 PM   #17
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stayed in a motel for a week
Lets see...cheap-ass motel @ $50/day X 7 days =$350

How about gas? How about meals? Make it $500.

That better be a gold plated CU...just sayin.
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