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Message
re: I need a non 'woke' bank
Posted on 6/28/22 at 10:33 pm to schexyoung
Posted on 6/28/22 at 10:33 pm to schexyoung
quote:
Community banks and credit unions have nearly all the same tools and services for consumer banking as the majors.
And you're supporting local economies
0
Posted on 6/29/22 at 5:19 am to Reubaltaich
quote:
Interdasting. Please elaborate.
Exhibit A
When bankers question why credit unions remain exempt from paying state and federal taxes even as many increasingly operate more like banks, they have institutions like Jefferson Financial in Metarie, La., in mind.
Founded in January 1966 to serve employees of the local school system, Jefferson opened its first office on the second floor of a florist shop. Today it has more than 63,000 members and its field of membership includes 12 parishes and counties in Louisiana and Alabama, as well as more than 180 employee and affinity groups. Earnings for 2017 topped $8.6 million, up a whopping 147% from 2016.
Jefferson, with $890 million of assets, has also developed a reputation as a creative and aggressive commercial lender. In December, it led a consortium of credit unions that provided a $112 million syndicated loan to an Irvine, Calif.-based biofuels producer, Ryze Renewables, for construction of a refinery in Storey County, Nev.
As banking advocates see it, when a not-for-profit credit union has what they see as a rapidly expanding field of membership and leads a large loan syndication for which it likely competed against taxpaying banks, then it probably should not be exempt from paying taxes.
“Taxpayers should no longer subsidize these large, aggressive entities that are called not-for-profit, but don’t act that way,” the trade groups wrote to Hatch. “We urge you not to let the status quo stop your committee from ending this outdated tax exemption.”
This post was edited on 6/29/22 at 5:21 am
Posted on 6/29/22 at 5:22 am to Reubaltaich
Stay away from First Horizon. When it was first announced that Iberia Bank was merging with First Horizon, it didn't raise any red flags for us at the time. At the time, we had accounts with Iberia Bank for years since the mid 90's for personal and business. But shortly after that merger was announced and the new signs were going up, that's when it was announced that First Horizon was being merged with TD Bank. For those who don't know, TD Bank is the bank out of Canada that froze all of those truckers' accounts and anybody who donated to their cause. That merger sent ripples that were felt immediately. People started closing their accounts including us and moving to local banks. From my area, Home Bank and The Bank are two of the ones that I recommend. So when you see a First Horizon sign, what do you see? A red, white and blue sign with a star that will make you think USA. Perception is not the reality.
Posted on 6/29/22 at 5:35 am to Kreg Jennings
quote:
Kreg Jennings
OK, thanks for the response.
Posted on 6/29/22 at 5:53 am to Crowley Cajun
Its sad to see what has happened to our businesses in general over the last 10 years.
The best way to fight back on all this 'woke' crap is to hit 'em where it hurts most, in the pocket-book.
Shopping local and dealing with local businesses is one of the best ways to do that.
Even then, gotta keep an eye on them, especially when they get bought out by the big boys.
BTW, I am looking hard at Origin Bank up here in NELA.
Any opinions on Origin Bank, looks like they have a lot of branches in the NELA area.
The best way to fight back on all this 'woke' crap is to hit 'em where it hurts most, in the pocket-book.
Shopping local and dealing with local businesses is one of the best ways to do that.
Even then, gotta keep an eye on them, especially when they get bought out by the big boys.
BTW, I am looking hard at Origin Bank up here in NELA.
Any opinions on Origin Bank, looks like they have a lot of branches in the NELA area.
Posted on 6/29/22 at 7:53 pm to Reubaltaich
It is sad what has happened to businesses. You're right.
I'm not familiar with local banks in NELA. I'm in south Louisiana. One thing that we noticed at 1st Horizon is that if you cash a check at $600 and up, they don't just cash it. They now deposit the check and then do a withdrawal. Remember when it was reported that they were going to keep track of accounts and transactions at $600 and up? Well, national banks are apparently starting to. All banks will eventually have to comply but, in my opinion, local banks will be the last to comply.
I'm not familiar with local banks in NELA. I'm in south Louisiana. One thing that we noticed at 1st Horizon is that if you cash a check at $600 and up, they don't just cash it. They now deposit the check and then do a withdrawal. Remember when it was reported that they were going to keep track of accounts and transactions at $600 and up? Well, national banks are apparently starting to. All banks will eventually have to comply but, in my opinion, local banks will be the last to comply.
This post was edited on 6/29/22 at 7:55 pm
Posted on 6/29/22 at 8:02 pm to Reubaltaich
Good Luck....
Find a local credit union, best move I ever made.
Find a local credit union, best move I ever made.
Posted on 6/29/22 at 8:15 pm to HubbaBubba
quote:
And not credit unions as they are “not for profit” and pay ZERO taxes.
I took his comment of credit unions not paying taxes as a good reason to use them.
Posted on 10/12/24 at 11:36 am to Reubaltaich
I can help with this;
1) Old Glory Bank (endorsed by Larry Elder)
2) Christian Community Credit Union
3) South State Bank
4) Pentagon Federal Credit Union (must be able to prove US citizenship)
5) MidFirst Bank - Based out of TX
6) Woodforest National Bank
7) Coosa Valley Credit Union
8) Regent Bank
1) Old Glory Bank (endorsed by Larry Elder)
2) Christian Community Credit Union
3) South State Bank
4) Pentagon Federal Credit Union (must be able to prove US citizenship)
5) MidFirst Bank - Based out of TX
6) Woodforest National Bank
7) Coosa Valley Credit Union
8) Regent Bank
Posted on 10/12/24 at 11:36 am to Reubaltaich
Old Glory Bank
Posted on 10/12/24 at 11:49 am to greggparker619
Been with penfed for many years.
Posted on 10/12/24 at 11:51 am to Reubaltaich
Navy Federal if your a vet or a family member is. If they are woke I haven't seen it.
Posted on 10/12/24 at 11:55 am to goatmilker
I use Advancial Federal CU and like them.
Posted on 10/12/24 at 11:57 am to frogtown
quote:
Truist(formed with the merger of BB&T and SunTrust) is a "non woke" bank. Or at least it has been. I have seen zero woke stuff from them. Their founder, Kelly King, funded college courses about Ayn Rand at UNC Greensboro for a long time.
It’s been a couple years. Truist is woke a f.
Posted on 10/12/24 at 12:18 pm to HubbaBubba
quote:
What's your beef with credit unions? Who cares if they aren't "for profit" and don't pay taxes? That lowers costs, making it easier for credit unions to offer lower rates on loans and mortgages and pay higher savings and CD rates than banks. Plus they are guaranteed on deposits up to $250k, same as banks.
Plus, they support the local community.
Where I live, DATCU Credit Union has naming rights to UNT's football stadium, and they have an agreement with our local school district to be its "official financial institution" for the next decade. I don't see Chase or Wells Fargo doing that.
Posted on 10/12/24 at 12:29 pm to Reubaltaich
I use three Credit unions. Two are FDIC insured the other s NCUA. Adelfi, Christian Community Credit Union and Notre Dame Credit Union. All of them are non-woke and give to missions .
Posted on 10/12/24 at 12:50 pm to Quidam65
Why are you all commenting on a 2+ year old thread?
This post was edited on 10/12/24 at 12:52 pm
Posted on 10/12/24 at 12:55 pm to Reubaltaich
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