Stock Market Thread

[HAULN-SS]

I use a credit Union. Echo what everyone else says. Loans are super easy to get, best rates I have come across. I also refinanced the WV house with mine, got a great rate on a 5/5 arm which a lot of Banks won't do at all

[.RJ]

I never go to a physical bank so service doesn't apply to me. Only loan is through Honda so it's set to auto pay and forget about it. I'll likely look at some local credit unions when it comes time to replace my car.

Yeah, this is fine until you need to pay off the car to sell and get the title....

[Evan]

Yeah, this is fine until you need to pay off the car to sell and get the title....

How does paying it off in person help?
Ive always had to wait for it in the mail regardless of if I pay it off in person or online

[WRXtranceformed]

I've actually never had success with credit unions having better rates for me for some reason. On my truck I financed with BoA but the dealership's BoA lending contact actually did better than our wealth management discounted rate through BoA. I still have a NFCU account but every time I go to check their rates they're higher than the other bigger banks. Same thing was true with my mortgage, and not that I have had all pleasant experiences with big banks managing mortgage processes (BoA was a complete disaster when I bought my first house) but I'm not sure I want to deal with a smaller entity when I'm making a purchase that big. Wells, for how trash the company is right now, did an absolutely stellar job managing our current home loan from start to finish...to the point where I would actually recommend the team that serviced us to our friends.

[.RJ]

Yeah, this is fine until you need to pay off the car to sell and get the title....

How does paying it off in person help?
Ive always had to wait for it in the mail regardless of if I pay it off in person or online

you can walk into a branch and handle the transaction, at least with NFCU, and they give you whatever paperwork you need on the spot.  Getting the title released for my 135 took many hours of phone calls, tons of misinformation, inability to connect with the people that can give you what you need, 2 trips to the DMV... shit show.  Its either that or wait for 6 weeks for "processing time".  No, fuck you, this does not take 6 weeks.  At the end of all of it, a phone call and an email from someone inside the depths of the bank who works with the titles/title release gave me what I needed to go print a title at the DMV.  

People I know that work/have worked inside banks say that this type of poor infrastructure, service and information compartmentalization is entirely normal within that industry.  Blows my mind.  But I've learned my lesson, never again.  Even my mortgage (NFCU) was painless.  NEVER. AGAIN.

[G.Irish]

Yeah, this is fine until you need to pay off the car to sell and get the title....

How does paying it off in person help?
Ive always had to wait for it in the mail regardless of if I pay it off in person or online

Yeah I still have an account at COFCU as well as a NFCU account.  With both when I've wanted to sell or pay off a vehicle the first story I get is, 'it'll take blah blah blah weeks to process and get mailed to you'.  But then when I asked they've always been able to expedite and I could either pick up the title in person (before e-titles) or get the credit union to do the release and I just went straight to DMV to pick the title up in about 24 hours.  I've only had to wait weeks for a title once when I paid off my 1000RR, and that was because I wasn't looking to sell it right away.

[Apoc]

I'm not sure I want to deal with a smaller entity when I'm making a purchase that big.

Why?

Our last home purchase and refinance were with an 800 person company. Both experiences were pretty painless and the mortgage got sold to Chase before we even got our first bill.

[WRXtranceformed]

I'm not sure I want to deal with a smaller entity when I'm making a purchase that big.

Why?

Our last home purchase and refinance were with an 800 person company. Both experiences were pretty painless and the mortgage got sold to Chase before we even got our first bill.

There are a lot of reasons, but mostly being I haven't seen a single one of them being able to beat a bigger bank rate or loan incentives in the two homes I've purchased.  To your point, if for some reason one gives you a better rate, they're probably not going to service the loan anyway so it may not really matter.

[D_Eclipse9916]

I'm not sure I want to deal with a smaller entity when I'm making a purchase that big.

Why?

Our last home purchase and refinance were with an 800 person company. Both experiences were pretty painless and the mortgage got sold to Chase before we even got our first bill.

Our last home purchase DHI put an additional $3500 down for doing it through them vs any other loan.  I cross-shopped them agianst my credit union and got them to match the rate.

HOWEVER, the experience was absolute GARBAGE and I hate the web interface to pay my bill.  It has now been sold twice and "Penny Mac" isn't any better.  Really shocked to say I miss my old BB&T loan and their web interface.

[Apoc]

I pay all our bills except credit cards, including mortgage, with our online bill pay. Means I don't have to remember 50 logins.

[.RJ]

I'm not sure I want to deal with a smaller entity when I'm making a purchase that big.

Why?

Our last home purchase and refinance were with an 800 person company. Both experiences were pretty painless and the mortgage got sold to Chase before we even got our first bill.

NFCU retains the servicing for all loans.  And, all loans are sold within 30 days of closing anyways.

Ok, Ill stop now.

[Sully]

My experience buying the s2k from a guy with nfcu loan was pretty shitty. The woman we dealt with was extremely difficult to deal with and they still had to release title to DMV requiring me to have a power of attorney to pick it up. Multiple trips to DMV because it hasn't been released the first trip even after they said it had and like a super small window where apparently (at least what I was told) the title would not be able to be picked up after DMV had it a certain amount of time and would be sent back even though it was digital. I don't know, complete cluster fuck even though I went to his bank with him with a certified check for the amount of his loan and paid it off right there on the spot.

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[Jewels]

So I use a local bank here in the Valley. F&M has held all my accounts for a long time. I've had a personal loan through them, and got both my mortgages through that division. They sell my mortgages off immediately but I always ask at closing who I got sold to. I'm friends with the VP of the Mortgage division so that's a nice perk when you can ask any question any time. And when getting a mortgage, I'll never go back to a big bank, the service is bar none compared to the debacle of using BOA once. I like the idea of a local bank, I think everyone has personal likes/dislikes each side, but for me, I love that the ladies in the branch in my little town, know me so well, they even ask about the kiddo (who has her own account there as well, that she signed for).

So basically, I have no real specific info for you, but I do think credit unions typically operate like a small local bank, so if I were to need that, I'd probably go that way too.

[Apoc]

I had to go into our credit union yesterday to order paper checks to pay for pre-school. (FML)

I think that was the first time I was in a branch since I opened the account.

Okay, that's a lie. We had to go to one to complete the sale of the Mini because the buyer was getting a loan with the same credit union.

Death to all physical stores of every kind!

[Sully]

I'm currently at a small local bank that I've been at since a kid. I loved it and everyone in the knew me and my family and transactions were super easy. Since then though, pretty much the entire staff has transferred or moved to other locations it banks and no one knows me anymore because I don't go on that often. The staff that's currently there is kind of rude and incompetent. And it's not really convenient because I moved a little ways away and there's only like 6 to 8 branches in the central VA region I believe. Maybe even less in what you'd call accessible to me without driving 45 minutes.

With all that, is very hard to convince my new wife to do our shared banking there especially cause she's coming from a bigger back which I don't want to use because they were the bank inside Martin's which was a good number of their convenient locations which are now gone

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Is cofcu the bank at JMU? Don't we get perks for being alumni or something?

Edit (my main thing about convenience though is like hours. I can never do anything at my bank cause they aren't open at all on Saturday and I work during all their other hours during the week

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[WRXtranceformed]

Woof!

http://money.cnn.com/2018/06/11/investin...index.html

[BLINGMW]

I don't watch treasury yields so this was new to me. But I heard about this "Inverted Yield Curve" today, how we're almost there, and how it's indicated the last 9 recessions, so I guess I'll start paying attention. Thoughts?

https://seekingalpha.com/article/4163929...recessions

https://www.investopedia.com/terms/i/inv...dcurve.asp

[CaptainHenreh]

I don't watch treasury yields so this was new to me. But I heard about this "Inverted Yield Curve" today, how we're almost there, and how it's indicated the last 9 recessions, so I guess I'll start paying attention. Thoughts?

https://seekingalpha.com/article/4163929...recessions

https://www.investopedia.com/terms/i/inv...dcurve.asp

[rherold9]

Well that's good news... I get to live through my first recession as an adult

[JPolen01]

So how about Tesla, hu?