Updated and revised on 5-16-01
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My husband became a member of Pacific Service Federal Credit Union 16 years ago when he started working for our Local Electrical Company.
I, have only jumped aboard, 5 years ago when I married him. I was a little skeptical at first because the only bank that I, as well as my entire family, had ever used and came to know well, was Bank Of America. Of course being the a creature of habit that I am, I felt no other bank could be as good. I begged my husband to change over to B of A where my account was, but he insisted that we stay with PSFCU and asked me to try it out and see how I like it.
Well, it is now safe to say that this Credit Union won me over in no time at all. For the past 6 years that I have banked with Pacific Service Federal Credit Union I have been in absolute awe of their wonderful service and benefits.
What I don't like about PSFCU-
As with everything, nothing is totally perfect. There will always be one or two things that you, the consumer, would like to change. That one thing for me about Pacific Service Federal Credit Unionis that I wish they had more local branches. There are only 2 branches here in the Bay Area. One in Walnut Creek and one in San Francisco. We usually use the one in Walnut Creek since it is only about 20 minutes from us as compared to 40 minutes to the San Francisco Branch.
Normally it is not an issue at all, since most of our banking is done online and such. However, on the times when you need to have a Cashiers Check made out or do some other business that you actually have to show up at the bank in person, it is a bit inconvenient to have to go so far.
(But to be honest, that still wouldn't get me to change banks. The benefits from being a member here have outweighed that con 100 to 1.)
What I like about PSFCU-
Our credit Union was able to give us the lowest rate for our Mortgage payment.
When we bought our first home, the credit Union wouldn't have much to do with us as far as helping us out with our loan. I guess they figured as 1st time home owners, that we were still a little bit of a risk. But, when it was time to buy our second home (which we have just recently done), the credit union took us under their wing, so to speak, and got us in our new home with a rate that was not only low, but lower than what all the other banks were offering. The whole transaction, was smooth from start to finish. They already knew us, had all our information, and trusted us from being members for so long with them. All we had to do was sign on the dotted lines! It was wonderful.
They also were able to give us a GREAT rate for our Automobile Loan. After we moved into our home, we decided to refinance our 2 year old van with PSFCU. We were currently financing our Van through Ford credit at the best rate they could give us. (Which, by the way, was a far cry from being low) Well, our Credit Union refinanced our van (over the phone) at absolutely no cost to us at all. We got a much better interest rate than before and were even allowed to take out the amount of the High Bluebook on our Van to have a little extra spending money for our yard at our new house. This was also a very pleasant experience and was all signed and completed with in 5 days. We never even had to go down to the credit union for any reason at all.
Also, since then, we have purchased another car. Since we decided to go with our credit union again, they had us preapproved and ready to go with 10 minutes of my initial phone call to them. So all we had to do is find the car we wanted and give the information to the credit union. They took over from there. It was VERY easy and convienient. No haggling involved. We knew exactly how much we could spend and exactly the interest rate and payment we would be looking at before hand. It was Great!
We get great deals on Vacation packages being a member of our Credit Union. Last year we planned our entire vacation to Disneyland with the Credit Union and ended up saying almost $700 on discounts and values.
All of our confirmations were made for us and everything was delivered to our front door. Within weeks we had our hotel receip, rental car receipt and tickets in our hands.
Visa Card Benefits-
Having a major credit card through Pacific Service Federal Credit Union also has it advantages.
At first we were issued a low balance credit card, with a fair interest rate. (Just like anyone who is a first time Credit Card holder, you have start out small and earn your way up.)
Through time, as we established credit with the credit Union and they got to know us better, we were issues a Gold Card with a much larger balance and an even lower interest rate. For 6 years we have held the same Visa Card and kept the same low "fixed" interest rate of 9.99%. (There is no going up or down, our rate stays the same.)
Note: Another wonderful benefit of having a credit card affiliated with the Credit Union that we are members of is that they have made exceptions for us to extend out Maximum balance several times, when we called and had an emergency. It was done right there on the phone, within 5 minutes. They have always bent over backwards for us to make our many requests happen.
The most obvious plus, is that being that our Credit Union is affiliated with my husbands company, we have the luxury of automatic deposit of his paychecks so that we don't have to worry about having to battle the lines at the bank come every other Friday, to deposit his check.
The Credit Union automatically deducts any loans that we have through them, right there on the spot. Leaving us with one or two less things to worry about come bill paying time.
The Service is great. Every time I call with questions or concerns about my account, I am promptly helped out with courteous and friendly representatives. In the 5 years I have dealt with the employees at PSFCU, I can't remember one time that I was every treated rudely, or not given the time and respect that I deserve. They are very professional and very knowledgeable at what they do. And they have always, take care of any and all problems that I have had in a very timely manner.
My monthly checking Charge is $4.00 per month, which is very cheap compared to many of the other banks which usually runs about $12.00 a month. This charge only applies if your checking account goes under $500 at the time that the monthly statement is prepared and sent out.
As far as our saving account, the only restrictions that apply is that we keep $5.00 in our account at all times to keep it open.
There is $0 surcharge for ATM's if you use the ATM at the credit Unions. However, our ATM is accepted everywhere if we are willing to pay the surcharge of that bank. For me, I have found one Bank ATM across town that has a $0 surcharge and that is the one I usually use. (Otherwise you will have to pay the surcharge of that individual bank that you are choosing to use. But, even if you need to do that, PSFCU will NOT charge you again for using another banks ATM, like some banks do.)
My overall experience with Pacific Service Federal Credit Union is wonderful. I don't feel that we could get the same service and benefits from any other Bank. Our family will be staying with them for the long haul!
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